BREAKING NEWS: 

Fed Chair Jerome Powell, speaking from the Federal Reserve’s annual retreat in Jackson Hole, Wyoming, stated that “the time has come for policy to adjust,” indicating that the Federal Reserve is preparing for potential interest rate cuts, though the timing remains uncertain. His remarks highlighted progress in reducing inflation and stabilizing the labor market, with a focus on balancing economic growth and employment.

Key Takeaways:

• Inflation has significantly decreased, nearing the Fed's 2% target.
• Labor market conditions have normalized, with a steady unemployment rate of 4.3%.
• Powell emphasized the Fed's commitment to maintaining both price stability and strong employment.
• Markets are anticipating potential rate cuts as early as September.

The timing and extent of future rate cuts will depend on economic data, but with his comments today, Chairman Jerome Powell has laid the groundwork for such adjustments. This long-awaited move will be welcomed by small businesses, which have felt the squeeze of the high-rate environment.

No better time to get into a business. Let's talk!