Fed Chair Jerome Powell signals path to rate cuts
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Stocks surged on the remarks as investors anticipated the Fed was now more likely to lower its key borrowing rate at its next meeting in September.
Federal Reserve Chairman Jerome Powell on Friday did not give a clear indication of the central bank's plans to possibly cut interest rates amid pressure from President Donald Trump.
Gold prices rebounded on Friday, buoyed by heightened expectations of a September rate cut following comments from Federal Reserve Chair Jerome Powell at the central bank's Jackson Hole symposium.
Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.
Stock index futures were muted on Thursday, a day after Wall Street ended mostly lower as investors continued to await Federal Reserve Chair Jerome Powell's speech at Jackson Hole on Friday. S&P 500 futures (SPX) were unchanged,