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.

Los banqueros centrales reunidos esta semana en Jackson Hole, Wyoming, para la conferencia anual de la Reserva Federal están dispuestos a ir más allá de intercambiar documentos de investigación y disfrutar de las vistas de las montañas: han venido a defender a Jerome Powell.

(Reuters) -Rate-sensitive stocks rallied on Friday after U.S. Federal Reserve Chair Jerome Powell hinted that an interest-rate cut could be on the table in September, citing a shifting balance of risks.

U.S. stocks closed higher, with the Dow scoring a record high, after Fed Chair Powell suggested it was time to consider rate cuts again.

Inflation risks are still running high, while the job market shows signs of softening — “a challenging situation,” Powell acknowledged. “The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,