Shares of SoFi Technologies Inc (NASDAQ:SOFI) are climbing Friday afternoon, hitting a new 52-week high, after Federal Reserve Chair Jerome Powell struck a notably dovish tone in his Jackson Hole remarks, signaling that downside risks to the labor market are rising and that interest rate cuts may be warranted if the slowdown deepens.
What To Know: The pivot from a singular focus on inflation toward concerns over employment has significant implications for high-growth companies like SoFi.
