Manus on markets: What Fed chair’s speech means for equities and bonds

The National’s Manus Cranny breaks down Federal reserve chairman’s key speech


Fed chair Jerome Powell on Friday signalled US interest rate cuts could come as soon as next month, suggesting a shift in policy may be needed to support the economy as evidence grows of a weakening labour market.

“With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” he said at the Jackson Hole economic policy symposium on Friday.

Updated: August 23, 2025, 7:15 AM