‘The time has come’: The Fed just sent a crucial message about its next move

America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight.

“The time has come for policy to adjust,” Fed Chair Jerome Powell said in prepared remarks for his keynote speech at an annual gathering of central bankers and economists in Jackson Hole, Wyoming. “We will do everything we can to support a strong labor market as we make further progress toward price stability.”