Time has come to cut interest rates: Fed chief – Times of India

US Fed chief Jerome Powell said the time has come for the central bank to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labour market.
“The time has come for policy to adjust,” Powell said on Friday in a speech at the Kansas City‘s Fed’s annual conference 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.”