And welcome to closing bell. I'm Contessa Brewer in today for Scott

Wopner. We're live from Post 9 at the New York Stock Exchange. This make or

break hour begins with the post-Powell rally stocks shooting higher after the Fed chair said the time has

come signaling they're going to start cutting rates next month.

Former Fed Vice Chair, Rich Clarita, joins us shortly to break down what he sees in terms of timing and the pace of cuts ahead.

Here's a look at our scorecard with 60 minutes to go and regulation were green across the board.

All three indices trading higher by

more than 1% at the highs of the day we're seeing that tech stocks are rallying

on hopes of a lower rate cut environment Tesla and NVIDIA both jumping more than 3%. And look at

small cap stocks also gaining on this outlook the Russell 2000 advancing about

3% on the day.

It takes us to our talk of the tape.

And if hopes of coming rate cuts can sustain this rally,

joining me now is Edward Jones, Mona, Mahajun,

and Truis Weelts, Keith Lerner.

It's great to see both of you today.

Mona set the scene for me today because there was so much expectation going into Fed

Chair Jerome Powell's speech in Jackson Hole today, the expectation of rate cuts, but

he came out and he stated it fairly clearly.

Yeah, thanks, Contessa.

Look, the chair delivered on his message today and I think they usually

tend to use this Jackson Hole Symposium as a platform where they can deliver or signal a change

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