Minutes after the speech, investors pegged the chances of a quarter-point interest rate cut at 91%, up from a 75% chance assessed one day earlier, according to CME FedWatch Tool, a measure of market sentiment. Despite the market's positive reaction to Powell's speech, the Fed chair voiced a note of caution for the outlook for the U.S. economy.

Stocks soared on Friday after Federal Reserve Chair Jerome Powell signaled the central bank may be ready to resume cutting interest rates at its next policy meeting in September.

While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.

Federal Reserve Chair Jerome Powell didn't "promise" to cut interest rates in September and may not adjust rates if there are dramatic surprises in the data in the coming weeks, said former Boston Fed President Eric Rosengren.

New Zealand's central bank will likely cut its key interest rate twice more this year, taking it to 2.50%, according to a majority of economists polled by Reuters following the latest policy meeting,

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The highest money market account rate available today is 4.35% Changes from the Fed or your bank can quickly change money market rates Online banks typically offer the most competitive yields on the market Current Money Market Rates As of today,

The European Central Bank is likely to keep interest rates on hold next month but discussions about further cuts may well resume in the autumn if the economy weakens, five sources told Reuters.