US Fed chair says it’s time to cut rates
Federal Reserve chair Jerome Powell | REUTERS/Evelyn Hockstein/File Photo
WASHINGTON—Federal Reserve chair Jerome Powell said Friday that the “time has come” for the United States to start lowering interest rates, raising expectations of a rate cut next month.
“The time has come for policy to adjust,” he said.
“The direction of travel is clear, and the timing and pace of rate cuts will depend on the evolving outlook, and the balance of risks,” he added.
US stocks rose following Powell’s remarks.
