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Federal Reserve Chair Jerome Powell gave his annual speech at the Jackson Hole Symposium 2024. “The time has come for policy to adjust,” said Powell, emphasizing that the timing and pace of rate cuts “will depend on incoming data, the evolving outlook, and the balance of risks.” He also noted that the Fed does not seek further cooling in the labor market conditions, given his confidence that inflation is on a sustainable path back to 2%. Powell admitted that the past four years tested the limits of their knowledge, adding that they are open to criticism and new ideas. This clip offers highlights from Powell’s speech.
#Fed #Powell #economy #rates
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