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Investing.com — U.S. stocks were wobbling as investors digested a slew of megacap earnings reports and awaited economic data that could set the stage for the Federal Reserve’s next meeting.

When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated

interest rate cut in the cards at their Sept. 17-18 meeting. By the end of last month, when Federal Reserve Chair Jerome Powell said it was time to start lowering borrowing costs, nearly all of his colleagues thought so too. In large part, that was because a wide range of data moved in one direction. That pushed Fed policymakers to reassess the risks to their outlook, including whether their chief concern should be persistent inflation, labor market weakness, a deterioration in business or household financial conditions, a potential policy mistake, or some combination of those factors.

FOX Business’ Edward Lawrence shares highlights from Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole Economic Symposium.

The Federal Reserve is poised to cut its benchmark interest rate next month from its 23-year high, with consequences for consumers when it comes to debt, savings, auto loans and mortgages

Federal Reserve Chair Jerome Powell all but proclaimed mission accomplished in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech in Jackson Hole, Wyoming

“The time has come for policy to adjust,” Fed Chair Jerome Powell told an annual gathering of global policymakers and economists in Jackson Hole, Wyoming, all but committing the US central bank to lowering rates when officials meet in September.

Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.

Oil prices rose more than 1% on Friday as U.S. Federal Reserve Bank Chair Jerome Powell signalled interest rate cuts would be among the central bank's priorities in the coming months. Brent crude futures rose by $1.27, or 1.63%, to $78.49 a barrel at 9:50 a.m. CDT (1450 GMT), while U.S. West Texas Intermediate (WTI) crude futures rose $1.33, or 1.81%, to $74.34.

FOX Business’ Edward Lawrence shares highlights from Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole Economic Symposium.

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Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent.

Federal Reserve Chair Jerome Powell said on Friday «the time has come» for the U.S. central bank to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of the Fed's 2% target, offering an explicit endorsement of an imminent policy easing. «The upside risks to inflation have diminished. And the downside risks to employment have increased,» Powell said in a highly anticipated speech to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming. «The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.» Referencing the two goals that the Fed is tasked by Congress to achieve, Powell said his «confidence has grown that inflation is on a sustainable path back to 2%,» after rising to about 7% during the COVID-19 pandemic, while unemployment is increasing.

Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium later in the day. On Thursday, three Fed officials hinted at a potential rate cut in September, expressing support for a «slow and methodical» approach to policy changes. Powell’s speech, scheduled for 7:30 PM IST, is highly anticipated by traders looking for positive signals regarding interest rate cuts.

₹71,400 per 10 grams level, while Silver prices rose above ₹84,030 per kg level. International bullion prices that hit an all-time high of $2,531.60 on Tuesday, have fallen nearly 1% this week amid a rebound in the dollar index and rise in US 10-year Treasury yields.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

The BSE Sensex was trading 42 points, or 0.05%, lower at 81,009. The Nifty50 was down 7 points, or 0.03%, trading at 24,803 around 9:19 am.

For all the attention being paid to Federal Reserve Chair Jerome Powell's policy speech Friday, the chances of it containing any startling news seem remote.

Federal Reserve policymakers on Thursday lined up in support of U.S. interest-rate cuts starting next month now that inflation is well down from its highs and the U.S. labor market is cooling, though one signaled he is in no rush to ease policy. «For me, barring any surprise in the data we'll get between now and then, I think we need to start this process» of lowering rates, Philadephia Fed Bank President Patrick Harker said in an interview with Reuters. «I think a slow, methodical approach down is the right way to go.» Boston Fed President Susan Collins struck a similar tone, signaling her likely support for a rate cut at the U.S. central bank's policy meeting next month.

Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September.

QI Research CEO and chief strategist Danielle DiMartino Booth discusses how the Fed can get the U.S. economy back on track on 'The Big Money Show.'

benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed's July 30-31 meeting, released Wednesday, said the «vast majority» of policymakers «observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.»