Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
NEW YORK, Aug. 23 (Xinhua) — U.S. Federal Reserve Chairman Jerome Powell on Friday signaled the possibility of an early interest rate cut, saying the central bank would proceed cautiously while continuing to assess the impact of its policies on the economy.
Speaking at the central bank's annual symposium in Jackson Hole, Wyoming, Powell said that as borrowing costs weigh on growth and labor market and inflation pressures ease, "the changing balance of risks may require adjustments in our policies."
He stressed that the Fed faces a “difficult situation” as it seeks to simultaneously achieve low and stable inflation and a healthy labor market, which are at odds with each other.
“Powell’s comments significantly softened expectations for an aggressive series of interest rate cuts, pointing to concerns about inflation, which has been above the Fed’s 2 percent target for more than four years,” the Wall Street Journal reported.
U.S. inflation has risen in recent months but remains well below the peak of 9.1 percent reached three years ago.
Expectations of a rate cut helped boost Wall Street. Stocks rose. The Dow Jones and Nasdaq indexes were up about 2 percent in afternoon trading, while the S&P 500
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