Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

Phil Orlando, Chief Equity Market Strategist at Federated Hermes, joins Worldwide Exchange to discuss Fed policy, market risks, and why small caps could outperform as rates trend lower.

The TV-style approach could present the White House with an excuse to meet with some current Fed officials who don’t support lowering rates.

By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.

Palo Alto Networks jumped 6.3% overnight after the cybersecurity company beat Wall Street’s sales and profit forecasts. The California company also announced the retirement of Nir Zuk, its founder, chief technology officer and board member.

Treasury yields moved slightly lower on Tuesday, with the benchmark 10-year rate just below its 100-day moving average amid low volumes and limited conviction behind summertime trading. The 10-year yield was near 4.

The Oscar-winning film editor was visibly emotional while discussing the friendship between her long-time collaborator Scorsese and late husband, Powell: "When Michael died ... Martin Scorsese flew across the Atlantic to be there and throw the first clump of dirt on Michael's grave.

A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners.