Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Fed Chair Jerome Powell sparks a stock-market rally Friday, with his Jackson Hole speech opening the door to an interest rate cut in September.

Bitcoin and Ethereum are under strain ahead of today’s widely watched Jackson Hole speech by Federal Reserve Chair Jerome Powell. At present, Bitcoin is priced at $112,517.20, down 5.4% this week, while Ethereum is down 7.4% to $4,296.05. XRP is also showing weakness, down almost 9% over the same time.

Powell's Jackson Hole speech signals a dovish Fed shift, balancing inflation and jobs. Markets rally as rate cut expectations rise for September. Read more here.

Bloomberg journalists answer your questions live from the Federal Reserve’s annual meeting of central bankers in Jackson Hole, Wyoming.

The odds of a September rate cut jumped Friday after Federal Reserve Chair Jerome Powell struck a dovish tone in his speech at the central bank’s annual Jackson Hole Symposium.

Market-based expectations of long-term inflation were rising on Friday, suggesting the Federal Reserve could be underestimating the risk of future price gains and may be committing a policy error if it cuts interest rates.

Pudgy Penguins is also seeing daily momentum, having achieved a bump of 9.5% in the past 24 hours and 6.5% in just the last hour, just after Federal Chair Jerome Powell hinted at a rate cut.