US stocks test record highs as Powell says 'the time has come for policy to adjust'
Federal Reserve chairman Jerome Powell in Jackson Hole in 2022.
Amber Baesler/AP Photo
- US stocks tested record highs as Fed chairman Jerome Powell delivered his speech at Jackson Hole.
- Powell said the downside risks to the jobs market outweigh inflation risks.
- "The time has come for policy to adjust," Powell said, confirming imminent interest rate cuts.
US stocks tested record highs on Friday as Federal Reserve chairman Jerome Powell delivered remarks at the Jackson Hole economic symposium.
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