US Fed Chair Powell says ‘time has come’ for policy adjustment, hints at rate cut ...Middle East

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US Fed Chair Powell says ‘time has come’ for policy adjustment, hints at rate cut
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Washington:  US Federal Reserve Chair Jerome Powell has said that “the time has come” for a monetary policy adjustment, in yet another indication that the central bank might begin much-anticipated interest rate cuts next month. Powell made the remarks on Friday during an economic policy forum, underscoring that inflation is “much closer” to the central bank’s target of 2 per cent, Yonhap news agency reported. “The time has come for policy to adjust,” he said in a keynote speech at the forum in Jackson Hole, Wyoming. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” he added. Speculation has

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