Federal Reserve Chair Jerome Powell said Friday that “the time has come” for the U.S. central bank to cut interest rates from its current 23-year-high.
- U.S. Fed cuts its key rate by 50 basis points in dramatic shift
- U.S. inflation cools further in August, clearing path for rate cuts to begin
- As inflation eases, Powell says ‘the time has come’ to adjust U.S. rates