Federal Reserve Chair Jerome Powell on Friday signaled that the central bank could lower interest rates as soon as its meeting next month.
Powell, speaking at the Kansas City Fed’s annual conference in Jackson, Wyoming, said the risks of slowing job growth may soon outweigh inflation concerns, clearing a path for rate cuts.
“The balance of risks appears to be shifting,” Powell said.
The Fed chair said the labor market is in “a curious kind of balance” in which both demand for and supply of workers have slowed, warning that the risk of higher layoffs “can materialize quickly” if conditions weaken further.
“With policy in restrictive territory…
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