Fed, Trump and Powell
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Powell, Jackson Hole and Federal Reserve
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The dollar got off on the front foot on Wednesday following two days of gains as traders awaited the Federal Reserve's Jackson Hole annual symposium later this week for clues on the path for monetary policy.
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.
Crypto bloodbath deepens with cryptocurrencies and crypto-related stocks down as traders await the July FOMC minutes and Powell’s Jackson Hole speech.
Gold steadies above $3,331 as traders eye Fed minutes and Powell’s Jackson Hole speech, while silver consolidates near $38 awaiting breakout signals.
U.S. stocks end down, with the Dow off a record high made early with help from Home Depot. Investors look to earnings, Fed conference for direction.
S&P 500 futures are down 0.1%. Dow Jones Industrial Average futures are dipping 0.1%. Nasdaq 100 futures are slipping 0.1%. On Monday, the Dow Jones Industrial Average fell 34 points, or 0.08%, to 44,
Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Policy Symposium on Friday is being billed as a pivotal, "make-or-break" moment for the central bank's more dovish contingent.
Federal Reserve Chair Jerome Powell will speak Friday during an annual economic policy gathering to give his outlook on the economy. It’s a time of high uncertainty with inflation still