Major brokerages, including Barclays, BNP Paribas and Deutsche Bank, now expect a 25-basis-point U.S. Federal Reserve rate cut in September following Chair Jerome Powell's shift in tone at Jackson Hole toward rising risks in the labor market.

Major brokerages anticipate a 25-basis-point rate cut by the U.S. Federal Reserve in September, following Chair Jerome Powell's speech at Jackson Hole highlighting labor market risks. Powell's remarks led Barclays and others to adjust their rate cut forecasts,