Stock market’s ‘fragile’ bounce at stake as Powell prepares Jackson Hole speech
Market watchers widely expect Federal Reserve Chair Jerome...
Market watchers widely expect Federal Reserve Chair Jerome Powell to set the tone for a September interest-rate cut in his speech at the Kansas City Fed’s annual Jackson Hole Economic Symposium on Friday.
However, if the speech goes differently, it could threaten the stock market’s recent bounce.
Powell is due to speak on the economic outlook at 10 a.m. Eastern time, following a precedent where Fed chairs almost always give a keynote speech during the high-profile annual gathering that regularly attracts top U.S. and global central bankers. The event runs from Aug. 22 to 24 in Grand Teton National Park in Wyoming.
The Democratic National Convention kicks off today in Chicago. It will be four days of political speeches that culminate in the selection of the party’s presidential candidate. Vice President Kamala Harris will speak Thursday night, formally accepting the party’s nomination. President Joe Biden will speak tonight. See the full schedule here.
Outside the proceedings, thousands of protesters are expected to call for a cease-fire in Gaza, an issue dividing the Democratic Party. Chicago officials said they had added additional security in anticipation.
Election Day is Tuesday, Nov. 5. Find locations to vote in your state here.
Powell to speak in Jackson Hole, WY: Later this week,...
Powell to speak in Jackson Hole, WY: Later this week, central bankers will meet in the shadow of the Tetons for the Jackson Hole Symposium, an annual retreat for global economic officials to talk monetary policy and knock back a few whiskeys at the Million Dollar Cowboy Bar. The main event: Fed Chair Jerome Powell’s keynote speech on Friday, which investors hope will clarify the timing and pace of interest rate cuts.
George Santos, the former congressman and current Cameo star, is expected to plead guilty to federal fraud charges stemming from his 2022 midterm campaign today.
Perdue recalled more than 167,000 pounds of frozen chicken nuggets and tenders due to possible metal contamination. Magneto could have solved this very quickly if asked.
Warlord Ramzan Kadyrov, the president of Chechnya, posted a video showing how he mounted a machine gun to his Tesla Cybertruck and invited Elon Musk to Russia.
The Onion is going back into print after more than a decade.
California oil refineries would have to amass minimum gasoline stockpiles...
California oil refineries would have to amass minimum gasoline stockpiles to prevent price spikes during refinery outages under legislation proposed by California Gov. Gavin Newsom. Western States Petroleum Association President and CEO Catherine Reheis-Boyd criticized the plan as "nothing more than a political attack on consumers and our industry."
API poll: Voters in swing states back US oil, gas drilling
A new poll conducted by Morning Consult for the American Petroleum Institute...
A new poll conducted by Morning Consult for the American Petroleum Institute reveals that over 90% of voters in critical swing states favor domestic oil and natural gas drilling, viewing it as essential for easing inflation and lowering energy costs. The survey also highlights strong opposition to potential government restrictions on gas appliances and vehicles, driven by concerns about the financial impact of such measures.
