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With the White House watching, Fed's Powell to hint yes or no on rate cuts
U.S. Federal Reserve Chair Jerome Powell's speech to the annual Jackson Hole economic conference on Friday comes amid unprecedented pressure on the central bank from President Donald Trump, but mixed economic data may pull Powell toward a middle ground that leaves major questions unresolved. Investors are expecting and Trump is demanding a rate cut when the Fed meets next month, and two Fed governors began pushing for cuts with dissents at the central bank's last policy meeting on concerns the labor market may be weakening faster than headline employment data suggests. But inflation remains above the Fed's 2% target ... (full story)
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