US Federal Reserve ChairmanJerome Powell indicated that, with the baseline outlook and the shifting balance of risks, there may be an upcoming adjustment in the Fed's policy stance. The next US Fed FOMC meeting is on 16-17 September 2025.

Stocks surged on the remarks as investors anticipated the Fed was now more likely to lower its key borrowing rate at its next meeting in September.

Bitcoin and Ethereum began to rally after Federal Reserve Chair Jerome Powell delivered a much-awaited speech at Jackson Hole, Wyoming, on Aug. 22. During the speech, Powell hinted at a possible cut in interest rates in September but didn't deliver any definitive promise.

Federal Reserve chairman Jerome Powell said, “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance”.

In his final speech at the Federal Reserve’s summer retreat, Chairman Jerome Powell said the changing economic landscape likely will bring lower interest rates.