Powell hints at possible rate cut
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Jerome Powell said the labor market might be softening enough to rein in inflation that is being pushed up by tariffs .
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.
Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.
If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.