#FedDovishNow
Powell's Unexpected Shift at Jackson Hole
As Powell displayed a more dovish monetary stance, U.S. stock markets rose on hopes of possible interest rate cuts.
Driven by upcoming economic data on jobs and inflation that could determine the next steps of the Federal Reserve.
U.S. stock markets rose on Friday following a moderate shift from Federal Reserve (FED) Chair Jerome Powell during his speech at the Jackson Hole symposium.
This may pave the way for interest rate cuts at the Federal Open Market Committee (FOMC) meeting in September.
This change came just days after the release of the FOMC's hawkish minutes from July, which highlighted rising inflation risks.