Institution: Despite Powell's hint at a rate cut, investors still need to be cautious

Chris Zaccarelli of the Independent Advisor Alliance stated in a report that Federal Reserve Chairman Powell's "balanced and candid" speech at the Jackson Hole meeting paved the way for a 25 basis point rate cut in September, and "opened the door for further cuts when necessary."

He believes it is too early to say that the economy is experiencing a soft landing, and advises investors to "take a balanced approach to investing, neither preparing for an imminent recession nor pursuing risk and becoming complacent because the Fed will cut rates within less than a month."