CNA

Fed chair Powell hints at possible rate cut but offers no timeline

US Fed Chair Jerome Powell has hinted at a rate cut next month, citing the sluggish labour market. In a highly-anticipated speech to central bank governors in Jackson Hole, ...Wyoming, he also noted that inflation remains a threat and that a decision isn't set in stone. It’s been eight months since the Fed last adjusted policy - "too late" for President Trump who has repeatedly attacked Mr Powell for keeping rates steady. The pressure campaign against the central bank doesn’t appear to be over though, with the US leader this week threatening to fire a different Fed governor. Toni Waterman has more from Washington.[+] Show More

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