Fed Chair Jerome Powell will likely walk a fine line in his Friday morning speech at the Jackson Hole symposium, but Wall Street is hoping for rate-cut clues.
WASHINGTON (AP) — Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged
Jerome Powell will address the state of the U.S. economy — and perhaps offer hints about interest rates — in a closely watched speech this week. Here's what to expect.
The Fed chair will speak Friday at an annual economic symposium in Jackson Hole, Wyo. The speech comes as the central bank is under mounting pressure from the White House to lower interest rates.
Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.
Federal Reserve Chair Jerome Powell said the central bank is open to cutting their influential interest rate. If Fed officials decide to cut rates at their meeting next month, it would lower borrowing costs and speed up the labor market, but would lower the returns on many investments.
Heading into the Jackson Hole Economic Summit, investors focused on how Jerome Powell’s message might differ from his assessment of the economy at the July Federal Open Market Committee meeting. Powell indicated then that the decision to keep the federal funds rate unchanged at 4.25 to 4.
