Fed Chair Jerome Powell signals path to rate cuts
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Central bankers from around the world are gathering in Jackson Hole, Wyoming, this week. Not for sightseeing or fly fishing, but for the Federal Reserve’s annual Economic Policy Symposium. Fed chair Jay Powell is set to speak Friday and analysts will be paying extra attention to his comments on the labor market — especially after that weak July jobs report we saw a few weeks ago.
Stocks surged Friday as investors breathed a huge sigh of relief after Federal Reserve Chair Jerome Powell indicated that interest rates could be cut.