BREAKING: Fed Chair Jerome Powell says conditions 'may warrant' cut to interest rates

Federal Reserve Chair Jerome Powell suggested that conditions in the economy "may warrant" a cut to interest rates. He made the comments on Friday during an annual address from Jackson Hole, Wyoming. 

“With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said, per CNBC. 

This comes as President Donald Trump has been pressing Powell for months to lower the interest rates. 

During the speech, he added that "sweeping changes" in policies with taxes, trade, and immigration have resulting in new conditions for the economy. He continued, and said "the balance of risks appear to be shifting” between the Fed's goals of stable prices as well as full employment in the American economy.  

Despite the hint at a cut to the interest rates, Powell said that the condiitons allow “us to proceed carefully as we consider changes to our policy stance."

With Powell's remarks, markets soard and Treasury yields fell on Friday morning, and marks a possible win for Trump who has been calling on Powell to cut the interest rates for months on end. 

Earlier this week, Trump posted to Truth Social, in similar fashion to other posts about Powell: "Could somebody please inform Jerome 'Too Late' Powell that he is hurting the Housing Industry, very badly? People can’t get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut. 'Too Late' is a disaster!"