The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum.

The chairman of the Federal Reserve used his last annual speech in Jackson Hole to lay out the headwinds in the labor market and on inflation.

Federal Reserve Chair Jerome Powell delivers a high-profile address at the annual Jackson Hole Economic Policy Symposium.

There’s the awkwardness that if the US central bank does cut rates, it may be because the economy is in trouble, and it has to, writes Jonathan Levin.

Federal Reserve Chair Jerome Powell on Friday announced an updated operating framework more oriented toward traditional efforts of promoting price stability, supplanting what had been a troubled effort that biased central bank policy toward its job mandate over its inflation target.