Federal Reserve Chairman Jerome Powell has indicated that the time has come for a reduction in interest rates. This comes after careful evaluation of economic circumstances and inflationary pressures. Powell suggests that a decrease in the interest rate can stimulate economic growth and consumer spending while mitigating any potential downturns. This decision was driven by several factors including global economic slow down and trade tensions. The exact size and timing of the rate cut will be decided in an upcoming meeting with the Federal Reserve Board.
