United States Federal Reserve Chair Jerome Powell on Friday (Aug 22) pointed to a possible rate cut at the central bank's September meeting but stopped short of committing to cutting interest rates in

Federal Reserve chairman Jerome Powell said, “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance”.

The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.

In his final speech at the Federal Reserve’s summer retreat, Chairman Jerome Powell said the changing economic landscape likely will bring lower interest rates.

Minutes after the speech, investors pegged the chances of a quarter-point interest rate cut at 91%, up from a 75% chance assessed one day earlier, according to CME FedWatch Tool, a measure of market sentiment. Despite the market's positive reaction to Powell's speech, the Fed chair voiced a note of caution for the outlook for the U.S. economy.

Federal Reserve Chair Jerome Powell on Friday signaled a possible interest rate cut at the U.S. central bank's meeting next month, saying that risks to the job market were rising but also noting inflation remained a threat and that a decision wasn't set in stone.

Stocks rose sharply Friday morning, after remarks by Federal Reserve Chair Jerome Powell prepared for delivery in Jackson Hole, Wyoming, signaled a rate cut may be warranted. Stocks had opened higher ahead of the speech,