Traders appeared more certain that the Federal Reserve will cut interest rates at its monetary-policy meeting next month as Fed Chair Jerome Powell delivered remarks Friday at the annual Jackson Hole Economic Policy Symposium in Wyoming.

Federal Reserve Chair Jerome Powell said the Federal Reserve may cut interest rates, raising expectations the central bank will lower the fed funds rate when its policy committee next meets in September.

After somewhat positive inflation data in July, the chances of the Federal Reserve cutting interest rates in September are at roughly 83%, according to CME Group 's FedWatch tool calculations on Aug. 18. One month earlier, roughly 59% of traders betting on changes in the federal funds rate thought an interest rate cut would occur in September.