The Fed isn’t done fighting inflation — but it’ll ensure its next big decision won’t bring ‘unnecessary harm’ to consumers

• Federal Reserve Chair Jerome Powell delivered his economic outlook remarks at Jackson Hole on Friday.
• He did not specify what the bank’s next move will be and committed to reaching the 2% inflation target.
• But he said the Fed will “proceed carefully” in determining whether to continue raising rates.

Federal Reserve Chair Jerome Powell delivered his highly-anticipated speech on the central bank’s outlook in Jackson Hole, Wyoming — and he signaled relief could soon be coming for consumers.

On Friday, Powell took the podium for the Fed’s annual economic policy symposium hosted by the Kansas City Fed. Following a series of interest rates hikes since March 2022 — most recently a 25 basis point hike in July following a June pause — all eyes were on Powell to see if those hikes will continue at the next Federal Open Market Committee meeting in September.