From CNBC: 2024-08-23 10:24:00

Federal Reserve Chair Jerome Powell indicates interest rate cuts ahead, as he delivers his keynote speech at Jackson Hole retreat in Wyoming. He plans to adjust policy due to easing inflation and economic expansion concerns, with expectations of rate reductions starting in September and continuing through 2025.

Powell’s history of announcing major policy initiatives at Jackson Hole leads markets to anticipate rate cuts coming soon. The Fed is expected to begin lowering rates next month and continue with a series of cuts over the next few years. Powell’s speech comes amid mounting worries about economic resilience and inflation trends.

Read more: Fed Chair Jerome Powell speaks from Jackson Hole conference