Federal Reserve Chair Jerome Powell participates in a conversation with Economic Club of Washington, DC, July 15, 2024, in Washington. (AP Photo/Manuel Balce Ceneta, File)
August 23, 2024
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August 23, 2024 8:40 a.m.
Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates
JACKSON HOLE, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.