Fed Chair Jerome Powell delivers a speech at the Jackson Hole conference.
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On Friday morning, Jerome Powell, the Federal Reserve Chair, delivers his keynote address at the central bank's annual retreat in Jackson Hole, Wyoming.
It was anticipated that Powell would lead the way in reducing interest rates as inflation slows and worries about the sustainability of the U.S. economic growth intensify.
He has used Jackson Hole to announce major policy plans and intentions. It is predicted that the Fed will start reducing rates in September and continue with a sequence of cuts until at least 2025.
The Fed is likely to cut interest rates in September due to low employment levels, concerns about finding work, and dissatisfaction with pay, as stated by Philadelphia Fed President Harker.
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