New dawn for S-Reits as Fed rate cuts get underway

JEROME Powell left almost no doubt on Friday (Aug 23) that the Federal Open Market Committee will finally deliver its first rate cut next month.

“The time has come for policy to adjust,” he said, during a speech at the Kansas City Fed’s annual conference in Jackson Hole.

The Fed chairman added that the timing and pace of any rate cuts would hinge on incoming data, and that he was now more confident US inflation was on a sustainable path to the Fed’s target of 2 per cent.