Yields on U.S. money-market funds have been easing back this year in anticipation of the Federal Reserve resuming rate cuts, with yields last spotted around 4%, according to BofA Global rates researchers.

Nodding toward significant changes in the economic landscape over the last five years, Federal Reserve Chair Jerome Powell on Friday announced an updated operating framework for the U.S. central bank that reflects the return of higher inflation pressures and reduced prospect of near zero short-term interest rates.

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.

Federal Reserve Chair Jerome Powell on Friday said the central bank faces a "challenging situation" as a hiring slowdown coincides with tariff-driven price increases, putting pressure on both sides of the Fed's dual mission to maximize employment and control inflation.

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The Fed’s annual forum at Jackson Hole has long been a must-watch event for Wall Street, but this year’s meeting brings extra scrutiny.

Asia shares trade mixed on Friday, tracking an overnight decline on Wall Street amid ongoing tech stock sell-offs and anticipation of Powell's remarks. Meanwhile, Japanese shares had a mixed day. This came after new data showed consumer inflation in Japan remained well above the Bank of Japan's annual target.

TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist U.S. stocks fell on Thursday and the dollar and Treasury yields rose, as solid factory data cast a bit more doubt on the Fed's readiness to lower interest rates next month.