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Global Markets — stocks rise, yields fall as Powell opens door to September rate cut
LONDON: Stocks rose and US Treasury yields and the dollar fell on Friday after Federal Reserve chair Jerome Powell pointed to a possible rate cut at the central bank’s September meeting. Powell stopped short of committing to cutting interest rates as he tried to walk a narrow line acknowledging growing risks to the job market while also saying risks of higher inflation remain. His remarks, to the annual central banking symposium at Jackson Hole, are his final address as chair of the Fed.
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nytimes.com
Jerome Powell Suggests Fed Will Soon Cut Interest Rates in Jackson Hole Speech
Jerome H. Powell said the “balance of risks” across the economy had started to shift, raising the odds the central bank lowers borrowing costs at its next meeting in September.
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cnbc.com
Powell indicates conditions 'may warrant' interest rate cuts as Fed proceeds 'carefully'
Powell on Friday gave a tepid indication of possible cuts ahead as he noted a high level of uncertainty.
