Jackson, WY

Fed Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. "The time has come for policy to adjust," the central bank leader said in his much-awaited keynote address at the Fed's annual retreat in Jackson Hole, Wyoming.

Fed Chair Powell indicates interest rate cuts ahead: 'The time has come for policy to adjust'

The Independent

  Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech Friday in Jackson Hole, Wyoming.Under Powell, the Fed raised its benchmark rate to the highest level in 23 years to subdue inflation that two years ago was running at the hottest pace in more than four decades. Inflation has come down steadily, and investors now expect the Fed to start cutting rates at its next meeting in September — an expectation that essentially got Powell's endorsement Friday.     ...

Takeaways from Fed Chair Powell's speech at Jackson Hole

The Guardian

Live coverage as investors wait for signs at Jackson Hole summit of how fast US central bank will cut interest rates starting in September

Federal Reserve’s Jerome Powell says ‘the time has come’ for US interest rate cuts – as it happened

Kiplinger

Sentiment turned cautious ahead of Fed Chair Powell's highly anticipated speech Friday at the Jackson Hole Economic Symposium.

Stock Market Today: Stocks Drop Ahead of Powell's Jackson Hole Speech

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Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Markets Insider

Stocks could see a 1995-like rally after the Fed cuts rates, said Wells Fargo's head of global investment strategy.

Stocks will embark on a run of gains unseen in 30 years after the Fed cuts rates, Wells Fargo strategy chief says

Major stock indexes were higher in early-afternoon trading Friday after Federal Reserve Chair Jerome Powell indicated the central bank is preparing to cut interest rates. The S&P 500 and Dow Jones Industrial Average were both up 0.8%, while the Nasdaq Composite tacked on 1.1%. The major indexes fell on Thursday, led by a sharp decline for large-cap technology stocks, but are now on pace to post weekly gains for the second consecutive week. The S&P 500 and Dow are less than 1% away from their record closing highs.

Dow Jones Today: Stocks Rise as Fed Chair Powell Confirms Interest Rate Cuts are Likely

New York Post

Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool.

The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”

In July, the policymakers kept their benchmark rate at 5.3%, a near-quarter-century high, where it’s stood for more than a year.



Wall Street traders had already considered it a certainty that the Fed will...

Most Federal Reserve officials ready to cut rates in September if inflation keeps cooling

South Carolina State

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Florida State

Akeena

Recent data from the U.S. Census Bureau reveals a significant trend: Florida is experiencing a substantial outflow of residents. According to the latest figures, over 275,000 individuals left Florida for other states in 2022.

Florida Sees Surge in Departures as Hundreds of Thousands Move Out

Jerome Powell has said he loses sleep over whether he can successfully steer the US economy to a soft landing, cooling inflation without tipping into recession. The Federal Reserve chairman may rest easier in Jackson Hole, Wyo. this week, where he’s headlining the central bank’s annual Grand Teton confab.

‘They are getting what they wanted’: Fed officials head to Jackson Hole

California State

Kamala Harris’ presidential nomination immediately reset Democrats’ relationships with US financial elites — if not the party’s approach to their businesses. Harris came up through California’s behind-the-scenes politics of relationships and big money, rather than President Joe Biden’s small-state retail politics. She spent her time in the White House cultivating Wall Street’s big Democratic donors like Centerview’s Blair Effron, a group that had only dutifully supported Biden. But there’s “genuine enthusiasm” for the new nominee, as Liz Hoffman reported.

First Friend: Kamala Harris’ alliance with Laurene Powell Jobs

What do a mountainside resort and economists have in common? Next to nothing if it weren’t for an annual invite-only summit the Kansas City Federal Reserve hosts at the Jackson Lake Lodge nestled in a valley by the Teton mountains just outside Jackson Hole, Wyoming.

All eyes on Powell’s Jackson Hole speech as new data fuels concern of a weaker labor market

Reuters

BENGALURU (Reuters) - The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024, one more reduction than predicted last month, according to a slim majority of economists polled by Reuters who said a recession is unlikely.

Fed to deliver three 25 quarter-point rate cuts this year; recession unlikely: Reuters poll

Kansas State

CNBC’s Steve Liesman and Kansas City Fed President Jeffrey Schmid joins 'Squawk Box' to discuss state of the economy, health of the labor market, the Fed's inflation fight, rate path outlook, and more.

Kansas City Fed President Jeff Schmid: Probably want to act before inflation reaches 2% target

Salem, OH

Northern Kentucky Tribune

Every day, 8-year-old Emma sits in a small garden outside her grandmother’s home in Salem, Ohio, writing letters to her mom and sometimes singing songs her mother used to sing to her.

Thousands of parents die of overdoses; advocates say their kids need more help

Update, Aug 23, 2024: This article has been updated with additional information from Powell's speech. In a major policy speech, Federal Reserve Chair Jerome Powell said the Fed is ready to start cutting its benchmark interest rate. The Fed is shifting its focus from fighting inflation, which has cooled down...

Powell Confirms Federal Reserve Pivot To Rate Cuts At Jackson Hole

The Lens

This year’s area of low oxygen in the Gulf of Mexico is larger than average, the National Oceanic and Atmospheric Administration (NOAA) announced on Thursday. The “dead zone” is approximately 6,705 square miles , as measured last week. Within NOAA’s 38 years of measuring the dead zone, this year’s assessment marks the 12th-largest area of low to no oxygen, which can kill fish and marine life.

Gulf ‘dead zone’ larger than average, larger than expected for 2024, scientists announce

Uncovering Florida

Most people are guilty of doing it at least once in their lives, many people do it by accident, some do it because they find it fun, and others do it for reasons like honoring loved ones. Regardless of the situation, just about everyone has released a balloon. The difference is that intentionally releasing balloons is now illegal by House Bill 321’s standards.

Law Signed By DeSantis Makes It Illegal To Release Balloons In Florida

North Carolina State

Eden, NC

Town Talks

North Carolina is the 28th largest state by area but boasts the seventh-highest number of counties in the country. If you’re searching for an affordable place to call home in North Carolina, you’re in luck. This diverse and picturesque state offers a range of options that won’t break the bank.

North Carolina City Has Been Named the Cheapest Place to Live in The State

NewsBreak

Markets eye Fed Chair Powell’s speech

The US Federal Reserve chair Jerome Powell will deliver his most high-profile speech of the year on Friday where he is expected to offer hints about...

Markets eye Fed Chair Powell’s speech

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