Fed's Powell at Jackson Hole
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The FTSE 100 and European stocks were higher on Friday as markets turn their attention to the much-anticipated speech by US Federal Reserve chair Jerome Powell. He is set to speak
Shifting risk balance may warrant policy adjustment,' said Jerome Powell in Jackson Hole, at the central bankers' annual meeting, hinting that the Fed may soon cut rates, even as inflation risks remain.
Wall Street's main indexes climbed more than 1 per cent on Friday (Aug 22) after US Federal Reserve Chair Jerome Powell pointed to a possible interest-rate cut at the central bank's next policy meeting during his Jackson Hole Symposium speech.
Fed Chair Jerome Powell opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing.