Fed Chair Jerome Powell signals possible rate cut, sending stocks sharply higher

Fed Chair Jerome Powell, pictured here, signaled a potential rate cut at his much anticipated speech in Jackson Hole, Wyoming — but stopped short of promising a rate cut at the next Fed meeting in September.

Federal Reserve chairman Jerome Powell signaled a possible interest rate cut in the months to come, sending stocks sharply higher.

(Image credit: Andrew Caballero-Reynolds / AFP via Getty Images)