Fed’s Powell signals rate cuts are coming, and the stocks that need them the most are flying

Specialist traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 22, 2025.  REUTERS/Brendan McDermid
Specialist traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Aug. 22, 2025.
Brendan McDermid | Reuters

Federal Reserve Chair Jerome Powell just wrapped up his speech at the central bank’s annual economic conference in Jackson Hole, Wyoming. His tone? Definitively dovish. It’s no surprise that the market is flying in response, especially the stocks that really need rate cuts to stoke profits.