Stocks Rally as Powell Fuels Bets on September Cut

What You Need To Know

• The S&P 500 climbed 2%. Treasury 10-year yields declined four basis points to 4.1%. The dollar fell.
• Policymakers made several adjustments to the language of a statement released after their two-day meeting in Washington.
• In a press conference, Powell said the economy is moving closer to the point at which it will be approppriate to cut rates.