Jerome Powell says ‘time has come’ for Fed to cut interest rates
Chair Jerome Powell announced that the Federal Reserve is ready to cut its key policy rate, confirming expectations that officials will start lowering borrowing costs next month. He emphasized his intention to avoid further cooling in the labor market. He said, “The direction is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
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Chair Jerome Powell announced that the Federal Reserve is ready to cut its key policy rate, confirming expectations that officials will start lowering borrowing costs next month. He emphasized his intention to avoid further cooling in the labor market. He said, “The direction is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.” 
