The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum.

Federal Reserve Chair Jerome Powell said the balance of risks to the labor market and inflation have shifted, signaling a potential interest rate cut at the Fed's next meeting.

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.

Federal Reserve Chairman Jerome Powell on Friday did not give a clear indication of the central bank's plans to possibly cut interest rates amid pressure from President Donald Trump.

U.S. stocks were rallying midday Friday on Federal Reserve Chair Jerome Powell’s Jackson Hole speech, as traders seemed more optimistic that the Fed may cut interest rates next month. The Dow Jones Industrial Average was up almost 907 points,