Summary
Fed Chair Jerome Powell suggested that the central bank might lower interest rates as early as September. He noted that the situation is difficult because inflation is rising while the job market is slowing down.
Key Facts
- Jerome Powell is the Chair of the Federal Reserve.
- Powell indicated a possible interest rate cut by September.
- Inflation is currently increasing.
- The job market is cooling down, meaning fewer jobs are being added or available.
- Powell described the Fed's current situation as "challenging."
- Amna Nawaz talked with Loretta Mester, the former president of the Federal Reserve Bank of Cleveland, about this topic.
