"The time has come for policy to adjust," Fed Chair Jerome Powell said at Jackson Hole, Wyoming, all but confirming an interest-rate cut in September.
"We do not seek or welcome further cooling in labor market conditions," Fed chairman Jerome Powell said in his speech at Jackson Hole.
Investing.com – Mexico stocks were higher after the close on Friday, as gains in the Materials, Industrials and Telecoms Services sectors led shares higher.
Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Financials, Investment and Public Services sectors led shares lower.
Investing.com – Russia stocks were lower after the close on Friday, as losses in the Power, Mining and Telecoms sectors led shares lower.
Trump owns about 59% of Trump Media, which is the parent company of his social media platform, Truth Social.
Looming rate cuts and better-than-expected economic developments have fueled demand for riskier assets.
The web browser developer's stock soared this week, and is now up 22% year to date.
The imminent rate cuts planned by the U.S. Federal Reserve are "in line" with International Monetary Fund advice that has put a premium on ensuring inflation was controlled but now sees risks shifting toward the labor market, IMF economic counsellor Pierre-Olivier Gourinchas said on Friday. "What was telegraphed by (Fed chair Jerome) Powell today is very much in line with what we've advocated," Gourinchas said on the sidelines of a Kansas City Fed economic conference. "Inflation has been improving and labor markets have shown signs of cooling ... If labor markets are not contributing to inflation pressures anymore ... then you might ease a little bit on cooling aggregate demand and bring (the policy rate of interest) back closer to neutral."
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