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Federal Reserve Chair Jerome Powell delivers his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming.
by Jeff Fox at CNBC
- Fed Chair Jerome Powell on Friday gave a tepid indication of possible interest rate cuts ahead as he noted a high level of uncertainty that is making the job difficult for monetary policymakers.
- “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” he said during his annual address at Jackson Hole, Wyoming.
- While not addressing White House demands for rate cuts specifically, Powell did note the importance of Fed independence.
Watch Fed Chair Powell: Shifting balance of risk ‘may warrant adjusting our policy stance’ review by CNBC
Federal Reserve Chair Jerome Powell on Friday gave a tepid indication of possible interest rate cuts ahead as he noted a high level of uncertainty that is making the job difficult for monetary policymakers.
In his much-anticipated speech at the Fed’s annual conclave in Jackson Hole, Wyoming, the central bank leader in prepared remarks cited “sweeping changes” in tax, trade and immigration policies. The result is that “the balance of risks appear to be shifting” between the Fed’s twin goals of full employment and stable prices…