Federal Reserve officials have said they're increasingly confident that they've nearly tamed inflation. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest rate next month from its 23-year high. Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming, at the Fed's annual conference of central bankers.
(Bloomberg) -- Oil held the biggest drop in more than two weeks as the US said Israel had accepted a cease-fire proposal to halt the war in Gaza, potentially easing supply risks just as concerns about the outlook for demand mount.Most Read from BloombergA Floating Island in Baltimore Raises Hope for a Waterfront Revival‘Train Lovers’ Organize to Support Harris and Walz in Presidential BidPart of Downtown Montreal Is Flooded After Water Pipe BreaksThe Cross-Continental Race Using Only Public Tran
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The vice president and Democratic presidential nominee plans to punish grocery stores for price gouging, and proposed grants to first-time homebuyers.
An economic catastrophe driven by the fundamental flaws in Russia's current strategy is looming large as Ukrainian forces fight on Russian soil.
The economic data is difficult to parse, and that means Powell’s speech has become correspondingly more difficult to foretell.
