Powell, Fed and interest rates
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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 .
The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum.
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Powell Says Conditions ‘May Warrant’ Interest Rate Cut In Jackson Hole Speech (Live Updates)
The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.
Federal Reserve Chair Jerome Powell didn't "promise" to cut interest rates in September and may not adjust rates if there are dramatic surprises in the data in the coming weeks, said former Boston Fed President Eric Rosengren.
Stocks surged Friday and the Dow closed at its first record high of the year after Federal Reserve Chair Jerome Powell signaled interest rate cuts could be on the way.