The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.

In his final speech at the Federal Reserve’s summer retreat, Chairman Jerome Powell said the changing economic landscape likely will bring lower interest rates.

Stocks climbed and U.S. Treasury yields and the dollar fell on Friday after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank's September meeting.