Powell puts rate cut on table
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Markets rose Friday after Federal Reserve Chair Jerome Powell appeared to open the door to lowering interest rates, something analysts say would help boost overall activity in the U.S. economy but at the risk of spurring inflation.
Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.
Ether, the second-largest cryptocurrency, surged 14% on Friday after Fed Chair Jerome Powell’s Jackson Hole remarks renewed hopes of an
Stocks surged on the remarks as investors anticipated the Fed was now more likely to lower its key borrowing rate at its next meeting in September.
President Donald Trump resumed attacks on Federal Reserve Chair Jerome Powell, this time claiming he is hurting the housing industry with high rates.
Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into riskier assets and interest-rate-sensitive sectors.