The Federal Reserve is signaling that lower interest rates are finally on the horizon.
Chair Jerome Powell delivered his keynote speech at an annual gathering of central bankers and economists in Jackson Hole, Wyoming.
Powell’s latest comments open the door for the first interest rate cut since 2020, slated for the Fed’s upcoming policy meeting Sept. 17–18.
The upcoming decision to cut rates is a sign that officials feel confident enough that price pressures are coming under control, but also that the economy is weakening.