Jerome Powell Jackson Hole speech Live: US Fed chair leaves door open to interest rate cut, say tariffs pushing prices in some categories

Trump says will 'fire' Fed governor Cook if she doesn't resign

“Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell added.

“Downside risks to employment are increasing,” Powell said in his prepared remarks for the keynote address at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyoming. He added that it is “reasonable” to expect Trump’s tariffs to have only a temporary impact on inflation.

Dow surges over 600 points as Powell suggests potential Fed rate cuts ahead

Powell signals conditions could justify rate cuts as Fed moves ahead with caution

Federal Reserve Chair Jerome Powell on Friday struck a cautious tone on the outlook for interest rate cuts, stressing that growing uncertainty is complicating the Fed’s policy path. In his widely anticipated speech at the central bank’s annual Jackson Hole symposium in Wyoming, Powell pointed to “sweeping changes” in tax, trade, and immigration policies, saying these shifts mean “the balance of risks appears to be shifting” between the Fed’s goals of stable prices and maximum employment. He noted that while the economy has shown “resilience” and the labor market remains strong, downside risks are increasing. Powell also cautioned that tariffs could drive inflation higher, raising the risk of stagflation — a scenario the Fed is keen to avoid.

Higher tariffs have begun to push up prices, effects now 'clearly visible,' says Powell.

According to a report by CNN, one of the key questions dominating the Jackson Hole conference is whether the Federal Reserve will move to cut interest rates at its policy meeting next month. Boston Fed President Susan Collins, a voting member of the committee, told Bloomberg TV on Friday that she is not yet prepared to support a rate cut. Collins said she expects inflation to remain elevated into early next year, partly due to tariffs, and cautioned that the impact could be “larger and more persistent.” “At the moment, monetary policy is kind of modestly restricted. That’s actually appropriate for a period when inflation is elevated,” she added.

The wait is over! Fed Chair Powell is all set to deliver his closely-watched address. Stay with us as we bring latest from Jackson Hole, US market and much more

Just after 9:30 a.m. ET on Friday, the S&P 500 was up 0.3%, the Nasdaq Composite inched higher by nearly 0.1%, and the Dow Jones Industrial Average advanced 306 points, or roughly 0.7%.

Bitcoin ETFs recorded their fifth consecutive day of outflows on Thursday, with total withdrawals for the week reaching $1.15 billion, putting them on track for their largest weekly outflow since February 28, data from SoSoValue showed. In contrast, ether ETFs registered $287.6 million in inflows on Thursday, breaking a four-day outflow streak. However, they remain set for their first weekly net outflow since May 9—amounting to $578.9 million—which also marks their largest weekly outflow on record.

U.S. stock futures edged higher on Friday as investors awaited Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium for signals on the future course of monetary policy. Dow Jones Industrial Average futures rose 131 points, or 0.3%, while S&P 500 futures were up 0.2% and Nasdaq 100 futures advanced 0.1%.

Powell’s address arrives at a critical juncture for the Federal Reserve chief, who continues to face mounting pressure from President Donald Trump and his supporters to lower interest rates.

Wall Street futures edged higher on Friday as investors awaited US Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Economic Symposium, expected to provide clarity on the interest rate path. The speech is scheduled at 7:30 pm India time. The annual conference began on Thursday, with traders closely tracking Powell’s remarks for indications of a possible rate cut in September. According to the CME FedWatch Tool, the probability of a 25-basis-point cut next month now stands at 71.3 percent, compared with 85.4 percent a week ago, Reuters reported. (Read More)

Economists at UBS told Reuters that Powell might offer “soft guidance” on the possibility of rate cuts. At the same time, given that this is his final Jackson Hole appearance, he is also expected to defend his record and reflect on his tenure—similar to how past Fed chairs used the platform to frame their legacy. The speech comes as U.S. President Donald Trump continues to push for deeper rate cuts, adding political weight to Powell’s remarks.

The focus of this year’s symposium is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy.” Powell has long emphasized the unemployment rate as his preferred gauge of labor health, and observers expect him to highlight jobs and productivity trends.

Powell’s address is scheduled for Friday morning in Wyoming. For Indian viewers, the live stream will begin at 7:30 p.m. IST on August 22, accessible through the U.S. Federal Reserve’s official YouTube and social media platforms.

Investors are keeping a close watch on Powell’s remarks for any hint of whether the Fed could move toward a rate cut at its September 16–17 meeting. Historically, Jackson Hole speeches have sparked sharp moves in bond markets, often driving yields higher, according to Reuters.

This year’s edition opens against a backdrop of heightened global uncertainty. U.S. tariffs on major trading partners are already weighing on international markets, adding to questions around inflation, employment, and the future of U.S. monetary policy.

The Jackson Hole gathering, hosted annually by the Federal Reserve Bank of Kansas City since 1978, brings together central bankers, economists, and global financial leaders. Over the years, it has become one of the most influential stages for debating and shaping monetary policy.

Federal Reserve Chair Jerome Powell will deliver his last speech at the Jackson Hole Economic Policy Symposium today, August 22. This marks his eighth appearance at the event, with his term set to end in May 2026.