Powell's dovish remarks ignite Wall Street as the market expects the Fed to cut interest rates in September.

[Golden Finance] According to reports, Fed Chairman Powell is still speaking, but his Jackson Hole speech has ignited long positions on Wall Street. David Laut of Abound Financial wrote: "Powell's dovish statements at Jackson Hole indicate that the Fed is prepared to cut rates in September." Powell stated that monetary policy will be data-driven, while also mentioning that employment faces resistance, and inflation expectations remain anchored. Laut noted: "Although there will be an employment report before the September meeting, it is clear that the Fed already has enough data to justify a rate cut in September."