Federal Reserve Chair Signals Interest Rate Cut | Business Matters (August 23)

The Federal Reserve is signaling that lower interest rates are finally on the horizon.

Chair Jerome Powell delivered a keynote speech at an annual gathering of central bankers and economists in Jackson Hole, Wyoming.

Powell’s latest comments open the door for the first interest rate cut since 2020, slated for the Fed’s upcoming policy meeting on September 17-18.

The upcoming decision to cut rates is a sign that officials feel “confident” enough that price pressures are coming under control, but also that the economy is weakening.