Powell to Put Rates, Fed Independence
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Federal Reserve Chair Jerome Powell is set to address an annual gathering of central bankers and economics bigwigs at a mountain resort in Jackson Hole, Wyo., Friday. Here's what you need to know: What exactly is the Jackson Hole Economic Policy Symposium?
U.S. stocks closed lower Thursday, with the S&P 500 index logging a fifth straight daily loss, as technology stocks slumped and investors waited to hear from Federal Reserve Chair Jerome Powell on Friday.
Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.Bullion traded around $3,340 an ounce, paring some of the gains made on Wednesday when President Donald Trump’s call for Fed Governor Lisa Cook to resign bolstered haven demand.
Bond traders are betting that Jerome Powell will send a clear message this Friday morning that interest rate cuts are coming next month. The Federal Reserve Chair is scheduled to speak at 10 a.m. in Jackson Hole,