The time has finally come for a rate cut. That was the takeaway of Fed Chair Jerome Powell's remarks in Jackson Hole on Friday when he let the world know to expect a cut at the next ​​Fed meeting in September.

Bloomberg’s Mike McKee joins host Sarah Holder from Jackson Hole to discuss what that cut could look like — and what it would mean for the economy, the US election and the American consumer.Read more: Powell’s Pivot Leaves Traders Debating Size, Path of Rate Cuts

Listen more: The Federal Reserve's Tricky Economic and Political Terrain