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Jackson Hole started yesterday, and now Fed Chairman Powell is speaking. His statements here are extremely important. At this annual event, central bank officials from around the world gather to evaluate the global economy. Before the September interest rate decision, Powell needs to send a message to the world here.
Fed Chairman Speaks
Fed Chairman Powell and his team have been convinced of rate cuts in September, with 25bp looking certain. However, it was eagerly awaited what tone Powell would set here before the first rate cut in four years begins. The important detail is the pace of easing we can see.
Powell’s speech has begun, and the key points are as follows:
- The time has come for policy adjustment.
- We will do everything we can to support a strong labor market while making further progress toward price stability.
- We do not want or welcome further cooling in labor market conditions.
Powell speaks at the Jackson Hole event.
He emphasizes the importance of policy adjustment.
He aims to support a strong labor market and price stability.
