Jerome Powell signals Fed rate cut In Jackson Hole speech
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Federal Reserve chairman Jerome Powell said, “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance”.
U.S. Federal Reserve Chair Jerome Powell on Friday pointed to a possible rate cut at the central bank's September meeting but stopped short of committing to cutting interest rates in remarks that walked a narrow line acknowledging growing risks to the job market while also saying risks of higher inflation remain.
More than $200 million in short positions got liquidated within the last one hour as Federal Reserve Chair Jerome Powell delivered his speech at Jackson Hole, Wyoming on Aug. 22. This is a developing story.
Wall Street is rallying on Friday toward its best day in months after the head of the Federal Reserve hinted the cuts to interest rates that investors and President Donald Trump crave so much may be on the way.