❗️ Jerome Powell, Chairman of #FED :

(Jackson Hole)

🔥 It's time to adjust the Fed's monetary policy (cut the rate)

✔ We will do everything possible to support a strong labor market.

✔ The timing and pace of the Fed rate cut depend on macro data and the balance of risks.

✔ Inflation is steadily moving towards the target of 2%.

✔ We have made significant progress towards achieving the goal of price stability while avoiding a sharp rise in unemployment.

✔ 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.

✔ We do not seek or welcome further cooling of the labor market.

✔ The economy continues to grow at a confident pace.