New Delhi, Aug. 22 -- US Federal Reserve Chair Jerome Powell on Friday made remarks at the Jackson Hole Symposium and left doors open foor a possible rate cut in the Fed's upcoming meeting.

US stocks extended gains following Powell's short but packed speech, that addressed concerns like inflation, job cuts, unemployment and rate cuts.

Over the course of this year, the U.S. economy has shown resilience in a context of sweeping changes in economic policy. In terms of the Fed's dual-mandate goals, the labor market remains near maximum employment, and inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. At the same time, the balance of risks appears to be shifting.

In my remarks today, I will ...