Key Takeaways Fed Chair Powell signaled a rate cut as labor market risks rise and growth concerns gain priority.Bank stocks rallied, with the KBW Nasdaq Bank Index up 3.2% and major lenders advancing.Lower rates ease deposit costs, improve credit quality, and support loan growth for banks.At Jackson Hole, Federal Reserve Chair Jerome Powell struck a more dovish tone, hinting that a rate cut could be on the horizon. He described the labor market as in a “curious balance,” wherein hiring is slowing and the po ...