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Federal Reserve Chair Jerome Powell didn't "promise" to cut interest rates in September and may not adjust rates if there are dramatic surprises in the data in the coming weeks, said former Boston Fed President Eric Rosengren.

"HELOC interest rates are generally structured as prime plus a margin," Debbie Calixto, sales manager at mortgage lender loanDepot, says. The federal funds rate influences the prime rate, while the margin reflects an additional percentage based on your credit score and loan details.

New Zealand's central bank will likely cut its key interest rate twice more this year, taking it to 2.50%, according to a majority of economists polled by Reuters following the latest policy meeting,

Stocks soared on Friday after Federal Reserve Chair Jerome Powell signaled the central bank may be ready to resume cutting interest rates at its next policy meeting in September.

The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.

CNBC's "Fast Money" team discusses the day's market rally and rate cut expectations after Federal Reserve chairman Jerome Powell's speech at the Fed’s annual conclave in Jackson Hole, Wyoming.