Fed Chair Powell spoke on the “Economic Outlook and Framework Review” at Jackson Hole today. The key phrase in the economic outlook section was that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” This signals that a rate cut is squarely on the table for the September 16-17 FOMC meeting. Powell reiterated that: “In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside—a challenging situation. When our goals are in tension like this, our framework calls for us to balance both sides of ... (full story)