Jerome H. Powell emphasized the Federal Reserve's readiness to cut interest rates, focusing on protecting the job market and ensuring economic stability.
Mr. Powell stated, "The direction of travel is clear" regarding rate cuts, indicating that their timing will be influenced by incoming data and economic risks.
He reiterated the Fed's commitment to support a strong labor market while pursuing price stability, highlighting policy adjustments in light of improving economic conditions.
The chairman's remarks mark a pivotal shift in Fed policy as inflation slows and the job market shows signs of weakness, signaling impending interest rate cuts.
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