<a href="https://www.washingtonexaminer.com/tag/federal-reserve/" target="_blank" rel="noopener" title="">Federal Reserve</a> Chairman <a href="https://www.washingtonexaminer.com/tag/jerome-powell/" target="_blank" rel="noopener" title="">Jerome Powell</a> on Friday said the central bank would soon cut <a href="https://www.washingtonexaminer.com/tag/interest-rates/" target="_blank" rel="noopener" title="">interest rates</a> for the first time, after years of restrictive monetary policy.

Powell made the remarks during his speech at the Jackson Hole Symposium in Wyoming. The annual address, which has the ability to move global markets, is often a place for the Fed to preview the year ahead or announce changes.
“We do not seek or welcome further cooling in labor market conditions,” Powell said on Friday. “The time has come for policy to adjust.”
This story is breaking and will be updated.

Fed Chairman Jerome Powell gave a strong signal that the Fed would soon cut interest rates for the first time after years of restrictive monetary policy.{ai:summary}Jerome Powell, the Federal Reserve Chairman, signaled an imminent cut in interest rates after years of tight monetary policy, speaking at the influential Jackson Hole Symposium. He emphasized that the Fed does not seek further cooling in the labor market, indicating a shift in approach.The move hints at a changing economic landscape, with Powell suggesting it's time for policy adjustments to support growth. The address could sway global markets as investors brace for the implications of this change. 
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Powell says ‘the time has come’ for rate cuts - Washington Examiner

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