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Stocks are jumping as traders bet Fed Chair Jerome Powell will signal more interest-rate cuts in his speech today

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'To say that the stakes are high for the meeting is an understatement.'

Global stocks jumped on Friday as traders wagered Federal Reserve Chair Jerome Powell will confirm an expected cut to interest rates in September during his speech today. Markets are pricing in about a 94% chance of a rate cut in September, and President Donald Trump has called for more aggressive reductions. However, strong employment and retail sales data, along with resistance from three Fed policymakers, means another rate cut isn't guaranteed.

Global stocks jumped on Friday as traders wagered Federal Reserve Chair Jerome Powell will confirm an expected cut to interest rates in September during his speech today. Markets are pricing in about a 94% chance of a rate cut in September, and President Donald Trump has called for more aggressive reductions. However, strong employment and retail sales data, along with resistance from three Fed policymakers, means another rate cut isn't guaranteed.

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