US Fed Chair Jackson Hole 2024 Highlights

US Fed Chair Jackson Hole 2024 Highlights: US Federal Reserve Chair Jerome Powell expressed further confidence on imminent policy easing, saying further cooling in the job market would be unwelcome and that inflation was within reach of the US central bank's two per cent target.

US Fed Chair Jackson Hole 2024 Highlights: Powell says ‘time has come’ for Fed to slash interest rates, stocks rally

Stocks rallied across the board and bond yields tumbled, with Jerome Powell giving its clearest signal yet that the Federal Reserve will begin cutting interest rates in September

While Wall Street had already priced in the start of policy easing next month, Powell’s comments that the “time has come" validated those views. Now there are plenty of other aspects in his Jackson Hole speech that shouldn’t be overlooked. For one, the Fed chief acknowledged recent progress on inflation. Then there’s the fact the he sees the economy growing at a “solid pace" — which provides reassurance after the recent growth jitters

Some Fed officials said a half-point Fed rate cut in September would become more likely if there were signs of a further slowdown in hiring. The next jobs report will be issued on September 6. In the last policy decision, Powell said if US inflation continues to fall, “a reduction in our policy rate could be on the table" when the Fed next meets in September

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