Federal Reserve Chair Jerome Powell’s speech at Jackson Hole hinted at a September interest rate cut, boosting market optimism. Expectations for two 25-basis-point cuts for the rest of the year grew, with a 89% chance of a quarter-point cut in September. The dollar fell, and stocks surged, including rate-sensitive sectors. Trump’s pressure on Powell and Fed Governor Lisa Cook raises concerns over Fed independence.

Read more at Yahoo Finance: Powell’s Jackson Hole address fires up markets with dovish tilt