U.S. Fed chair says 'the time has come' to cut rates

Federal Reserve chair Jerome Powell said Friday that the "time has come" for the United States to start cutting interest rates, adding that his "confidence has grown" that the battle against inflation is on track.

"The time has come for policy to adjust," he said in a keynote speech at the Jackson Hole Economic Symposium in the U.S. state of Wyoming, according to prepared remarks, adding: "the direction of trave