> ## Content Index
> Fetch the complete content index at: https://www.theglobalbanker.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Federal Reserve Chair Powell Signals Imminent Rate Cuts at Jackson Hole Symposium
- URL: https://www.theglobalbanker.com/federal-reserve-powell-signals-rate-cuts-jackson-hole-august-2024/
- Published: 2024-08-23T15:30:00.000Z
- Updated: 2026-11-03T01:23:00.000Z
- Description: Fed Chair Jerome Powell declared at Jackson Hole that 'the time has come for policy to adjust', ahead of the September FOMC meeting.
- Author: TGB Editorial Team
- Tags: Central Banks, Americas, #archive

Federal Reserve Chair Jerome Powell declared on 23 August 2024 that "the time has come for policy to adjust", signalling that the United States central bank was prepared to begin reducing interest rates after raising rates from March 2022 to July 2023 and holding them at a restrictive level since then to bring inflation back towards its 2% target. The statement was made at the Federal Reserve Bank of Kansas City's annual Economic Policy Symposium in Jackson Hole, Wyoming.

#### INFLATION AND LABOUR MARKET BACKDROP

Powell's comments came against a backdrop of moderating US inflation and some cooling in the labour market. The Fed had held its benchmark federal funds rate at elevated levels through the preceding months as it assessed whether inflation was on a durable path back to target. 

#### TIMING AND PACE OF CUTS

Powell said the direction of travel was clear and that the timing and pace of rate cuts would depend on incoming data, the evolving outlook and the balance of risks. That framing left open the question of whether the Fed would cut by 25 or 50 basis points at its first move, and how many cuts might follow over the course of the year.