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International Business Times
International Business Times
Business
AFP News

US Fed Chair Expected To Signal Support For Rate Cuts

The Fed has held its benchamrk lending rate at a two-decade high for the past year (Credit: AFP)

US Federal Reserve chair Jerome Powell is widely expected to use a keynote speech at a major central banking conference on Friday to signal support for cutting interest rates ahead of next month's rate decision.

The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial markets about the Fed's thinking, a few weeks after he said policymakers could cut rates "as soon as" September if the labor market remains solid and inflation continues to ease.

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