Powell's speech showed only a mildly dovish tone toward monetary policy, but that was all markets needed.

A widening battle for control of the U.S. central bank, considered an anchor institution of the global financial system, seems to already be underway.

The Federal Reserve chair gave prepared remarks at the Fed’s annual economic symposium in Jackson Hole, Wyoming.

Powell's speech showed only a mildly dovish tone toward monetary policy, but that was all markets needed.