Federal Reserve Chair Jerome Powell announced that the time has come for policy adjustments, indicating a shift towards cutting interest rates.

Speaking at the Jackson Hole Economic Symposium, Powell emphasized that while inflation has been a challenge, recent data shows progress toward price stability.

The Federal Reserve’s key rate, currently at its highest in 25 years, will likely begin to decrease next month. Powell stressed the importance of maintaining a strong labor market while achieving the 2% inflation target.

The upcoming Federal Reserve meeting in September will provide further details on how these policy changes will unfold​.

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