Federal Reserve Chair Jerome Powell signaled Friday that interest rate cuts are coming soon.

"The time has come for policy to adjust," Powell said in his speech during the Kansas City Fed's symposium in Jackson Hole, Wyoming. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."

<div><picture><source media="(max-width: 767px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/343/192/jerome-powell.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/686/384/jerome-powell.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 768px) and (max-width: 1023px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/672/378/jerome-powell.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/1344/756/jerome-powell.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1024px) and (max-width: 1279px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/931/523/jerome-powell.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/1862/1046/jerome-powell.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/720/405/jerome-powell.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/1440/810/jerome-powell.jpg?ve=1&amp;tl=1 2x"> <img src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2024/08/931/523/jerome-powell.jpg?ve=1&amp;tl=1" alt="Fed Chair Jerome Powell" width="100%" height="auto"></picture></div> <div><p><span>Federal Reserve Chair Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on July 31, 2024, in Washington, D.C.</span><span> (Photo by Andrew Harnik/Getty Images / Getty Images)</span></p></div>

<i>This is a developing story. Check back for updates.</i>

Federal Reserve Chair Jerome Powell signaled during a speech Friday at the Kansas City Fed's symposium in Jackson Hole, Wyoming, that interest rate cuts are on the way.{ai:summary}<p>Jerome Powell, the Fed Chief, hinted at imminent interest rate cuts during a symposium in Jackson Hole. The tightrope of policy adjustments is set to sway, with future moves hinging on fresh data and risk assessments.</p><p>In short, the Fed's compass is pointing toward lower rates, but the winds of economic change remain unpredictable.  
#economy</p>

Fed’s Powell: ‘The time has come’ for interest rate cuts

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