Fed Chair Jerome Powell signals job market, inflation outlook could allow for interest rate cut

Federal Reserve Chair Jerome Powell on Friday said that the "balance of risks appears to be shifting" in the U.S. economy, as central bank policymakers weigh labor market conditions and inflation data ahead of their next interest rate decision in mid-September.Powell spoke at the annual monetary policy conference hosted by the Kansas City Fed in Jackson Hole, Wyoming, in what is expected to be his final address at the event as Fed chair. The event comes following a series of inflation prints showing consumer prices trending higher and further away from the Fed's 2% target, as well as a weaker-