Jerome H. Powell said the “balance of risks” across the economy had started to shift, raising the odds the central bank lowers borrowing costs at its next meeting in September.

Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.

MSNBC’s Ali Velshi and economist Heather Long break down Federal Reserve Chair Jerome Powell’s speech indicating conditions “may warrant” interest rate cuts, noting the Fed will proceed “carefully.”