(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.

Both brokerages expect Fed to cut rates in September and December.

(Reporting by Rashika Singh in Bengaluru; Editing by Janane Venkatraman)