U.S. Federal Reserve Chairman Jerome Powell said in his Jackson Hole speech this week that rates could be lowered in mid-September if the August inflation rate doesn’t rebound.

The news came amid President Donald Trump’s pressure on the central bank, in addition to the order to fire Fed Governor Lisa Cook.

The U.S. central bank “may consider lowering interest rates at its next meeting on September 16 and 17,” taking into account the upward trend in inflation in the country.

During his speech at the Jackson Hole symposium, Powell made it clear that there is room to lower rates, as Trump has been demanding. However, he stressed that “monetary policy is restrictive. It can be relaxed within the range without ceasing to be restrictive.”

For the time being, tensions remain between the Fed and the White House, amid the decline in job creation and the implementation of Trump’s tariffs.

M.Pino

Source: ambito

(Reference image source: Joshua Hoehne on Unsplash)

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