(NewsNation) — Federal Reserve chair Jerome Powell made his final speech in Wyoming on Friday as Wall Street speculated whether an interest rate cut could be coming in September.
Shark Tank investor Kevin O’Leary told “NewsNation Live” there is an “over 80% chance of a 25 basis point cut” next month, which he says is “not a lot.”
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In a high-profile speech closely watched by the White House and on Wall Street, Powell said that there were risks of both rising unemployment and stubbornly higher inflation.
He also suggested that with hiring sluggish, the job market could weaken further.
The Fed has three additional meetings this year, including next month, in late October, and in December, and it’s not clear whether the Fed will cut the rate at any of those meetings.
The Associated Press contributed to this report.
