Jerome Powell, Chairman of #FED :
(Jackson Hole)
đ„ It's time to adjust the Fed's monetary policy (cut the rate)
â We will do everything possible to support a strong labor market.
â The timing and pace of the Fed rate cut depend on macro data and the balance of risks.
â Inflation is steadily moving towards the target of 2%.
â We have made significant progress towards achieving the goal of price stability while avoiding a sharp rise in unemployment.
â The risks to the Fed's dual mandate have changed - the likelihood of rising inflation has decreased, but the risk of falling employment has increased.
â We do not seek or welcome further cooling of the labor market.
â The economy continues to grow at a confident pace.
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