Instant Reaction: Jay Powell's Jackson Hole Speech

Bloomberg's Tom Keene, Lisa Abramowicz and Michael McKee discuss remarks from Fed Chair Jay Powell following his speech at the Jackson Hole Symposium on a special edition of Bloomberg Surveillance.They speak with: Jim Bullard, Former St. Louis Fed President Kate Moore, Citi Wealth CIO Rich Clarida, Former Fed Vice ChairFederal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.“The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” Powell said in remarks prepared for the Fed’s annual conference in Jackson Hole, Wyoming on Friday. “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Following Powell’s remarks investors boosted bets that the Federal Open Market Committee would cut rates at their Sept. 16-17 meeting. See omnystudio.com/listener for privacy information.