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

The Dow logged its first record close of the year and bond yields fell after Federal Reserve Chair Jerome Powell struck an upbeat tone on a September interest-rate cut.

Bitcoin and Ethereum were being helped by Fed Chair Powell’s comments that rate cuts could be warranted in his speech at Jackson Hole.

Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

Yields on U.S. money-market funds have been easing back this year in anticipation of the Federal Reserve resuming rate cuts, with yields last spotted around 4%, according to BofA Global rates researchers.

Asia shares trade mixed on Friday, tracking an overnight decline on Wall Street amid ongoing tech stock sell-offs and anticipation of Powell's remarks. Meanwhile, Japanese shares had a mixed day. This came after new data showed consumer inflation in Japan remained well above the Bank of Japan's annual target.