look news india
Mumbai: Federal Reserve Chairman Jerome Powell on Friday hinted that interest rates will be cut at the next September meeting as risks in the US are now shifting from inflation to employment.
It has become necessary to support the job market by lowering interest rates. Speaking at the Jackson Hole Symposium, Powell said, “It's time to adjust monetary policies.”
However, the amount and timing of interest rate cuts will depend on the data received. Inflation risk has reduced and employment risk has increased.
Inflation has been very low in recent times and the labor market is not that vibrant. The next meeting of the Federal Reserve is scheduled for September 17 and 18.
