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Here are key quotes from Federal Reserve Chair Jerome Powell's speech on Friday to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming: POLICY: "The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." INFLATION: "My confidence has grown that inflation is on a sustainable path back to 2 percent."

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said it’s possible that more than one interest-rate cut may now be needed by year-end, shifting his view in the wake of data showing falling inflation and a slowing labor market.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tri

Global investors ploughed money into equity funds in the week to Aug. 21, encouraged by expectations of a Federal Reserve rate cut in September and easing concerns about the U.S. economy. According to LSEG data, investors snapped up $15.73 billion worth of global equity funds during the week, marking their largest weekly net purchase since July 17. Expectations of Fed rate cuts soared as the latest meeting minutes revealed that a majority of policymakers support a September interest rate cut if the data aligns with expectations.

(Bloomberg) -- Gold rebounded above $2,500 an ounce, ahead of a speech by Federal Reserve Chair Jerome Powell that may provide fresh clues on the central bank’s monetary-policy path.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkUK Transport Minister Clears Path for Mo

Investors poured $37 billion into cash-like money market funds (MMFs) in the week to Wednesday, Bank of America said on Friday, as they braced for the U.S. Federal Reserve to cut interest rates in September. It put MMFs on track for their biggest three-week cumulative inflow since January at $145 billion, BofA said, citing figures from financial data provider EPFR. Investors put $20.4 billion into stocks, $15.1 billion into bonds, and $1.1 billion into gold, BofA said, in its weekly round up of flows in and out of world markets.

U.S. economic data is giving the Federal Reserve the green light to cut interest rates, financial markets are aligned for the first move, and the central bank all but gave the game away on Wednesday when a readout of its July meeting showed a "vast majority" of policymakers agreed the policy easing likely would begin next month. With all that in place, Fed Chair Jerome Powell's goal in his keynote speech on Friday to the Kansas City Fed's annual Jackson Hole research conference may be less about further shaping expectations and more about assessing where the economy stands ahead of what he has called a "consequential" first step. "I don't think he needs to do a lot beyond the press conference in July," said Richard Clarida, a former Fed vice chair who is now global economic adviser for Pimco, referring to how Powell leaned strongly toward a rate cut at the Sept. 17-18 meeting in remarks to reporters after the July 30-31 meeting.

(Reuters) -Oil prices were little changed on Friday but on track to end the week lower, as weaker U.S. employment data raised concerns over demand, and renewed ceasefire talks in Gaza eased worries about supply disruptions. Brent crude futures rose 16 cents, or 0.2%, to $77.38 a barrel at 0642 GMT, while U.S. West Texas Intermediate (WTI) crude futures inched up 15 cents to $73.16.