The Federal Reserve notes the balance of risks to the U.S. economy may warrant a shift in policy stance – in other words, a rate cut. Read more here.

Powell’s speech comes amid unprecedented pressure from the White House aimed at getting the central bank to lower borrowing costs.

Federal Reserve Chair Jerome Powell on Friday signaled a possible interest rate cut at the U.S. central bank's meeting next month, saying that risks to the job market were rising but also noting inflation remained a threat and that a decision wasn't set in stone.