"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."

The Fed chief also expressed confidence in the US economy's ability to pull off a so-called soft landing, an extremely rare outcome in which inflation is tamed without a sharp rise in unemployment. Such an achievement has only happened once, in the mid-1990s.

"With an appropriate dialing back of policy restraint, there is good reason to think that the economy will get back to 2% inflation while maintaining a strong labor market," he said.

Markets responded positively to Powell's comments, with all three major indexes moving higher Friday."

My plan would be to put proud Pocahontas Liz Warren in charge of the US Treasury Dept.... and get rid of Citizens United.

"The OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks.

The OCC is an independent bureau of the U.S. Department of the Treasury."