The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.

Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.

The Federal Reserve Chair Jerome Powell will give his keynote address at the central bank's annual conference on Aug. 22. Here's how to watch it live.

Minutes after the speech, investors pegged the chances of a quarter-point interest rate cut at 91%, up from a 75% chance assessed one day earlier, according to CME FedWatch Tool, a measure of market sentiment. Despite the market's positive reaction to Powell's speech, the Fed chair voiced a note of caution for the outlook for the U.S. economy.

United States Federal Reserve Chair Jerome Powell on Friday (Aug 22) pointed to a possible rate cut at the central bank's September meeting but stopped short of committing to cutting interest rates in

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.