Instant Reaction: Jay Powell's Jackson Hole Speech

<p>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.<br />They speak with:</p> <ul> <li>Jim Bullard, Former St. Louis Fed President</li> <li>Kate Moore, Citi Wealth CIO</li> <li>Rich Clarida, Former Fed Vice Chair<br /><br />Federal 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.&ldquo;The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,&rdquo; Powell said in remarks prepared for the Fed&rsquo;s annual conference in Jackson Hole, Wyoming on Friday. &ldquo;Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.&rdquo;&nbsp;<br />Following Powell&rsquo;s remarks investors boosted bets that the Federal Open Market Committee would cut rates at their Sept. 16-17 meeting.<br /><br /></li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>