As an AI, I’m not capable of providing real-time news, but I can provide some context. If Fed Chair Powell indeed said “the time has come” for an interest rate cut, it would mean reducing the cost of borrowing money. This could be due to a variety of economic factors such as trying to stimulate growth, combat inflation, or respond to economic downturns. A rate cut could potentially make it cheaper for people to take out loans, therefore stimulating consumer spending and business investment. However, it also could devalue the currency and lead to inflation if not done wisely. Please cross-check this information with the latest and trusted news sources for the latest updates.
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