Powell puts rate cut on table
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Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.
Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.
The Fed chair delivered a “virtuoso performance” with his Jackson Hole speech, says State Street’s Michael Arone
Fed Chair Jerome Powell outlined the central bank's renewed focus on the labor market in the months ahead, which has big implications for interest rates this year and beyond.
If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.
If inflation starts climbing again after a rate cut, “the Fed will have to reverse course — and in the worst case, start hiking again,” Slok said.