🗣️Urgent | Federal Reserve Chairman Jerome Powell in his speech at Jackson Hole:

💬 The shift in risk balance may require a monetary policy adjustment.

💬 Downside risks to the labor market are increasing.

💬 The Federal Reserve’s goals are under strain... and we must balance both sides.

💬 GDP growth has slowed significantly due to weak consumer spending.

💬 Inflation-related risks are tilted to the upside, while employment-related risks are tilted to the downside.

💬 The stability of the unemployment rate allows the Federal Reserve to "proceed with caution" when considering changes to monetary policy.

💬 The effects of tariffs on prices are now clear... and we expect them to accumulate in the coming months.

💬 The slowdown in job growth has not opened a significant gap in the labor market... and this is what we want to avoid.

💬 Labor supply has decreased in line with demand, and the job growth necessary for stability has dropped sharply.