TechFlow news, on August 23, according to Jinshi Data, Federal Reserve Chair Powell delivered an important speech at the Jackson Hole symposium, sending a strong signal of interest rate cuts. Powell stated that the timing for policy adjustment has arrived and the direction of policy is clear; the timing and pace of rate cuts will depend on data, economic outlook, and the balance of risks. He expressed increased confidence that inflation will return to the 2% target, noted that the labor market is unlikely to become a source of rising inflation pressures in the near term, said he neither seeks nor welcomes further cooling in the labor market, and added that upside risks to inflation have diminished while downside risks to employment are increasing.
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