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

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. While Powell was sure to highlight the upside risks to inflation, he also indicated he believes it's most likely that the Trump administration's elevated tariffs will be a one-time hit to prices rather than the start of an inflationary spiral — though he was sure to note that a "one-time" hit doesn't mean you get it "all at once" as the higher duty rates trickle through supply chains and distribution networks. Another key part of Powell's message Friday is that the employment picture — the other part of