Jerome Powell suggests that the long-anticipated rate cuts are imminent - marking the first such cuts during Trump's presidency

The employment sector is currently in a precarious state, prompting the Federal Reserve to potentially reduce interest rates to bolster the economy, as stated by Fed Chair Jerome Powell on Friday during a significant central banking forum.

In what is regarded as one of his most impactful addresses, Powell indicated that the labor market might gain from lower interest rates, which the Fed has maintained at a steady level for eight consecutive months.

"The risks to employment on the downside are increasing," Powell remarked in his prepared statements for the keynote address at the Federal Reserve Bank of Kansas City’s annual economic symposium held in Jackson Hole, Wyoming. He also noted that the likelihood of Trump’s tariffs having merely a temporary impact on inflation is "reasonable."