Inflation has declined "significantly" (Il Sole 24 Ore Radiocor) - Washington, 23 Aug - Federal Reserve chief Jerome Powell indicated the time has arrived for the US central bank to begin lowering its interest rates.

"The time has come for policy to adjust. 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," Powell said at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.

Powell said inflation had declined "significantly", adding the labor market was no longer overheated, and "conditions are now less tight than those that prevailed before the pandemic.'.

AAA-Sje

(RADIOCOR) 23-08-24 16:26:28 (0357) 5 NNNN