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Key quotes from Powell's speech at Fed's Jackson Hole conference

Here are key quotes from Federal Reserve Chair Jerome Powell's speech on Friday to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming: POLICY: "The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." INFLATION: "My confidence has grown that inflation is on a sustainable path back to 2 percent."

Fed’s Bostic Says He Now Might Favor More Than One 2024 Cut

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said it’s possible that more than one interest-rate cut may now be needed by year-end, shifting his view in the wake of data showing falling inflation and a slowing labor market.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tri