"The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said in his prepared remarks.

Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into risk...

If the famously data-dependent 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.