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Ken Lund
In the previous month, Jerome Powell, the leader of the watchdog, announced that the Fed was prepared to reduce rates.
"He mentioned during a speech at the annual economic symposium in Jackson Hole, where heads of the world's leading central banks usually meet, that it is time to make changes to (monetary) policy and the path to take is evident."
Powell had suggested the potential for a decrease in rates in September during the same meeting where the Fed decided to leave rates unchanged in July.
Powell said at that time that the key issue would be if the overall data, evolving predictions, and risk balance align with growing confidence and sustaining a robust labor market. If so, a reduction in the prime rate could happen as soon as the September gathering.
source: marketwatch.com
"He mentioned during a speech at the annual economic symposium in Jackson Hole, where heads of the world's leading central banks usually meet, that it is time to make changes to (monetary) policy and the path to take is evident."
Powell had suggested the potential for a decrease in rates in September during the same meeting where the Fed decided to leave rates unchanged in July.
Powell said at that time that the key issue would be if the overall data, evolving predictions, and risk balance align with growing confidence and sustaining a robust labor market. If so, a reduction in the prime rate could happen as soon as the September gathering.
source: marketwatch.com
