Fed Chair Jerome Powell signals path to rate cuts
Digest more
By Howard Schneider and Ann Saphir JACKSON HOLE, Wyoming (Reuters) -Federal Reserve Chair Jerome Powell on Friday pointed to a possible interest rate cut at the U.S. central bank's meeting next month,
Federal Reserve Bank of Cleveland President Beth Hammack said she wouldn’t support lowering interest rates if central bankers were making a policy decision tomorrow.
That’s because economic data have grown murkier since the Fed’s last policy meeting in late July, when two governors dissented from the overall decision for the first time in three decades, preferring to push for immediate cuts even though the central bank left rates steady.
Not even 48 hours after the conclusion of last month's meeting, data from the Labor Department appeared to validate the concerns of Bowman and Waller when it showed fewer jobs than expected were created in July.