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The imminent rate cuts planned by the U.S. Federal Reserve are "in line" with International Monetary Fund advice that has put a premium on ensuring inflation was controlled but now sees risks shifting toward the labor market, IMF economic counsellor Pierre-Olivier Gourinchas said on Friday. "What was telegraphed by (Fed chair Jerome) Powell today is very much in line with what we've advocated," Gourinchas said on the sidelines of a Kansas City Fed economic conference. "Inflation has been improving and labor markets have shown signs of cooling ... If labor markets are not contributing to inflation pressures anymore ... then you might ease a little bit on cooling aggregate demand and bring (the policy rate of interest) back closer to neutral."

(Bloomberg) -- Officials from three of the world’s major central banks on Friday signaled they are firmly on course to lower — or continue lowering — interest rates in the coming months, marking the beginning of the end for an era of high borrowing costs as the global economy slips out of the grip of post-Covid inflation.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 Co

(Bloomberg) -- Bond investors’ big bet on US Treasuries is paying off after Federal Reserve Chair Jerome Powell cemented expectations for an interest-rate cut next month.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 Tries to Make Microtransit WorkUK Transport Minister Clears Path for More 20mph Spe

(Reuters) -Canada's main stock index rose to a record high on Friday, with energy and financials contributing to broad-based gains as Federal Reserve Chair Jerome Powell endorsed the start of rate cuts, raising hopes the economy could avoid recession. For the week, the TSX added 1%, its third straight week of gains. Wall Street's major indexes also rose after Powell said, "The time has come" to reduce interest rates.

(Reuters) -Wall Street and global shares jumped on Friday toward all-time highs, while Treasury yields slumped and the dollar languished, after a speech by U.S. Federal Reserve Chair Jerome Powell confirmed the United States would soon begin interest rate cuts. Powell, in remarks on Friday at the annual economic symposium in Jackson Hole, Wyoming, said "the time has come" to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of the Fed's 2% target, offering an explicit endorsement of an imminent policy easing. "Powell gave the market just enough dovishness to support the market while avoiding the potential pitfall of inducing fear," Carl Ludwigson, managing director at Bel Air Investment Advisors, said in an email.

“The time has come for policy to adjust,” Powell said in his Jackson Hole speech on Friday.

Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech Friday in Jackson Hole, Wyoming. Under Powell, the Fed raised its benchmark rate to the highest level in 23 years to subdue inflation that two years ago was running at the hottest pace in more than four decades.