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.

Bloomberg journalists answer your questions live from the Federal Reserve’s annual meeting of central bankers in Jackson Hole, Wyoming.

The odds of a September rate cut jumped Friday after Federal Reserve Chair Jerome Powell struck a dovish tone in his speech at the central bank’s annual Jackson Hole Symposium.

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Market-based expectations of long-term inflation were rising on Friday, suggesting the Federal Reserve could be underestimating the risk of future price gains and may be committing a policy error if it cuts interest rates.

Pudgy Penguins is also seeing daily momentum, having achieved a bump of 9.5% in the past 24 hours and 6.5% in just the last hour, just after Federal Chair Jerome Powell hinted at a rate cut.

In Friday’s speech, Powell spent time acknowledging that economic conditions have shifted since he was last in Jackson Hole a year ago, in large part because the economy has faced “new challenges” due to shifts in policy on trade and immigration.