“The time has come for policy to adjust,” Fed Chair Jerome H. Powell said Friday
Fed chair Powell: ‘The time has come’ for interest rate cuts
https://www.washingtonpost.com/business/2024/08/23/fed-powell-jackson-hole-rate-cuts/
The question is whether it’s a half-point instead of a more typical quarter-point. As I’ve said all along, the Fed is more focused on the robust job market than the inflation rate, Powell’s clear statement of a rate cut comes a day after the BLS adjusted the number of new jobs down.