Wall Street on Friday notched its best day since late May, sparked by Federal Reserve interest rate cut expectations. Fed chair Jerome Powell at the Jackson Hole Economic Policy Symposium did not fully commit to cutting rates but did note that the downside risks to the labor market were increasing and that the "baseline outlook and the shifting

Federal Reserve Chair Jerome Powell on Friday opened the door ever so slightly to lowering a key interest rate in the coming months but gave no hint on the timing of a move and suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.

Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Bond investors are heading into Friday’s much-anticipated Jerome Powell speech largely expecting the Federal Reserve chair will indicate policymakers will start cutting interest rates next month.

If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.

Federal Reserve Chair Jerome Powell is set to speak Friday in Jackson Hole, Wyoming, at a Fed research conference. As always, traders will be listening for hints about what might happen with interest rates at next month’s Fed meeting. That’s as a weakening labor market sets the backdrop.