Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.

Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Wall Street on Friday notched its best day since late May, sparked by Federal Reserve interest rate cut expectations. Fed chair Jerome Powell at the Jackson Hole Economic Policy Symposium did not fully commit to cutting rates but did note that the downside risks to the labor market were increasing and that the "baseline outlook and the shifting