Jerome H. Powell said the “balance of risks” across the economy had started to shift, raising the odds the central bank lowers borrowing costs at its next meeting in September.

Stocks surged on the remarks as investors anticipated the Fed was now more likely to lower its key borrowing rate at its next meeting in September.

Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.

In his final speech at the Federal Reserve’s summer retreat, Chairman Jerome Powell said the changing economic landscape likely will bring lower interest rates.

Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

Stock index futures were muted on Thursday, a day after Wall Street ended mostly lower as investors continued to await Federal Reserve Chair Jerome Powell's speech at Jackson Hole on Friday. S&P 500 futures (SPX) were unchanged,