Fed’s Powell Signals Possible Rate Cut; Texas Senate to Vote on Redistricting Bill

Federal Reserve Chair Jerome Powell, in his final keynote address at the Jackson Hole Economic Symposium, said current conditions “may warrant” interest rate cuts. “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said in prepared remarks. The Texas Senate is expected to vote on a bill on Friday to redraw Texas’s congressional maps to increase Republicans’ hold on the state’s U.S. House delegation by as many as five seats. The bill is expected to pass through the Republican-dominated upper chamber, at which point it will go to Texas Gov. Greg Abbott for his signature. President Donald Trump on Friday visited “The People's House,” an immersive museum about the White House. Trump answered questions about public safety in the nation’s capital, Fed Governor Lisa Cook, and his renovation plans for the Kennedy Center.