Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy. Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction at either of its upcoming meetings in November or December.

The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.

In the wake of Powell's formal remarks, stocks eased slightly and yields on Treasuries rose. Rate futures traders leaned into bets the Fed will deliver a quarter-percentage-point rate cut rather than a second straight half-percentage-point cut in November.