Powell puts rate cut on table
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.
Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into riskier assets and interest-rate-sensitive sectors.
Federal Reserve Chair Jerome Powell is set to speak Friday in Jackson Hole, Wyoming, at a Fed research conference. As always, traders will be listening for hints about what might happen with interest rates at next month’s Fed meeting. That’s as a weakening labor market sets the backdrop.
Business Insider has you covered from every angle as investors gear up for Jerome Powell's Jackson Hole speech on Friday.
Get insights on the 2023 Fed Symposium in Jackson Hole. Explore market expectations, Powell's agenda, and potential rate cuts' impact on the economy.