Jackson Hole, Fed and Jerome Powell
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Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.
Most economists think the Federal Reserve will cut rates in September. "We do think it is highly likely that the Fed will cut rates by 25 basis points in September; we don't expect any strong signals from the chair on Friday,
Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.
TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist U.S. stocks fell on Thursday and the dollar and Treasury yields rose, as solid factory data cast a bit more doubt on the Fed's readiness to lower interest rates next month.
President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud.
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