I sin sidste tale (hans embedsperiode udløber i 2026) som chef for den amerikanske centralbank, The Fed, på det årlige økonomisymposium i Jackson Hole, Wyoming, arrangeret af The Reserve Bank of Kansas City, sendte Jerome H. Powell det hidtil stærkeste signal om, at rentenedsættelser er på vej i USA.
Powell afholdt sig fra eksplicit at signalere en reduktion af rente og låneomkostninger på Feds næste møde i september. Men den vægt han lagde på udsigterne til svækket økonomisk vækst og jobskabelse gjorde det efter mange analytikeres mening klart, at en beslutning om rentenedsættelse er sandsynlig på bankens rentemøde den 17. september.
Jerome H. Powell sagde ifølge hans talemanuskript, der er offentliggjort på The Feds hjemmeside:
“Putting the pieces together, what are the implications for monetary policy?
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 our dual mandate. Our policy rate is now 100 basis points closer to neutral than it was a year ago, and the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.
Monetary policy is not on a preset course. FOMC members will make these decisions, based solely on their assessment of the data and its implications for the economic outlook and the balance of risks. We will never deviate from that approach.”
Nationalbankdirektøren prøver her at balancere mellem centralbankens hovedhensyn: At sikre en rimelig beskæftigelse og begrænse inflationen til omkring 2 pct.
Soren Skafte, Former Permanent Secretary 