(Reuters) -Barclays and BNP Paribas expect the U.S. Federal Reserve to cut interest rates in September, after Chair Jerome Powell signaled a shift toward an easing bias in a speech at Jackson Hole, the brokerages said in separate notes on Friday.

Barclays and BNP Paribas expect the U.S. Federal Reserve to make a 25-basis-point interest rate cut in September, according to notes dated Friday, citing Chair Jerome Powell's shift in tone at Jackson Hole toward rising risks in the labor market.

There are 19 members of the Fed’s interest-rate setting committee, 12 of whom vote on rate decisions. One of them, Beth Hammack, president of the Federal Reserve’s Cleveland branch, said Friday in an interview with The Associated Press that she is committed to the Fed’s independence.