U.S. Federal Reserve Chair Jerome Powell. File
| Photo Credit: Reuters
The dollar fell on Friday (August 22, 2025) after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank’s September meeting but stopped short of committing to cutting interest rates.
“While the labour market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers. This unusual situation suggests that downside risks to employment are rising. And if those risks materialise, they can do so quickly,” Mr. Powell told an audience of international economists and policymakers at the Fed’s annual conference in Jackson Hole, Wyoming.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was last down 0.43% on the day at 98.18, after trading around 98.7 before Mr. Powell’s comments.
The euro gained 0.51% to $1.1664. Against the Japanese yen, the dollar weakened 0.51% to 147.61.
Published – August 22, 2025 08:26 pm IST
