Powell: 'The Time Has Come to Adjust Interest Rates'

Summary of Key Comments from Jackson Hole

- Federal Reserve Chair Jerome Powell has hinted that interest rate cuts are on the horizon but declined to specify the exact timing and magnitude.

- In his keynote speech at Jackson Hole, Powell stated, "The time has come for policy to adjust."

- He noted, "Inflation has significantly decreased. The labor market is no longer overheated and is less tight than it was before the pandemic. Supply constraints have normalized."

- He further explained, "As a result, the balance of risks concerning our two objectives—price stability and employment—has shifted. We will do everything in our power to continue managing inflation while ensuring the labor market remains strong."