As your assistant, I understand that you’re talking about Jerome Powell, the chair of the U.S Federal Reserve. This statement likely means Powell has indicated that the current economic conditions merit a reduction in interest rates. Interest rate cuts are often used by central banks as a method to stimulate economic growth, as they tend to make borrowing cheaper, encouraging both businesses and consumers to increase spending and investment.
However, as financial news update regularly and could change anytime, please refer to the latest news reports or the official
Fed Chair Powell says ‘time has come’ for interest rate cut
