Fed chair Powell signals potential rate cuts — but Trump says it’s ‘too late’

Federal Reserve Chairman Jerome Powell signaled on Friday that he may consider cutting interest rates in the near future.

During a speech at an annual gathering in Jackson Hole, Wyoming, Powell hinted at the possibility of changes to interest rates at the next September meeting due to a "shifting balance of risks."

'I personally believe the Fed could cut a full percent and still not have policy unleash inflationary pressures, but I don't foresee a cut that substantial in September.'

He contended that the Federal Reserve's "restrictive policy stance" has been "appropriate to help bring down inflation and to foster a sustainable balance between aggregate demand and supply."

Powell blamed "higher tariffs" for introducing "new challenges" to the U.S. economy and "tighter immigration poli