Summary
Federal Reserve Chair Jerome Powell gave a speech at an economic event in Jackson Hole, Wyoming. He discussed interest rates and the job market amid criticism from President Trump. Powell's decisions affect borrowing costs and the economy.
Key Facts
- Jerome Powell is the Chair of the Federal Reserve, the U.S. central bank.
- President Trump has criticized Powell for not lowering interest rates.
- The Federal Reserve's interest rate affects loans for things like houses and cars.
- Powell's speech in Jackson Hole is closely watched by financial markets and the government.
- Recent reports showed weak hiring and rising core inflation in the U.S.
- Powell must balance these economic indicators when deciding on interest rates.
- Powell and Trump had a public disagreement about the cost of renovating Fed buildings.
