Columbus, OH

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'

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

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

JACKSON HOLE, Wyoming (Reuters) - U.S. economic data is giving the Federal Reserve the green light to cut interest rates, financial markets are aligned for the first move, and the central bank all but gave the game away on Wednesday when a readout of its July meeting showed a "vast majority" of policymakers agreed the policy easing likely would begin next month.

With Fed Rate Cut Set, Powell May Focus on Explaining US Economic Conditions 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

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

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

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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

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

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

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

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

"A possible hawkish surprise might be highlighting instead that broad financial conditions are still quite easy," Goldman Sachs said.

Here's how Jerome Powell could surprise markets with his Jackson Hole speech

Federal Reserve Chair Jerome Powell signaled Friday that interest rate cuts might happen soon. Speaking at the annual Jackson Hole Economic Symposium in Wyoming, Powell hinted at potential rate cuts but didn’t offer specific details on the timing or magnitude of any cuts. Suggested Reading. Powerful people have a...

Read Fed Chair Jerome Powell's full remarks at Jackson Hole

The Associated Press

With inflation nearly defeated and the job market cooling, Fed Chairman Jerome Powell says the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high. JACKSON, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September.  “The time has come for policy to adjust,” Powell said in his keynote speech at the Fed’s annual economic conference in Jackson Hole, Wyoming. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”

Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates

Federal Reserve Chair Jerome Powell has hinted at potential interest rate cuts and the need for policy adjustments, which boosted the stock market on Friday. Speaking at the Fed’s annual Jackson Hole Economic Symposium in Wyoming, Powell suggested that rate cuts could be on the horizon but did not provide specific details on the timing or extent of such cuts.

Inflation falls and the labor market cools: Highlights from Fed chair Jerome Powell's big speech

CoinDesk

Bitcoin remains nearly 20% below its all-time high, while U.S. stocks and gold are at or within close shouting distance of record levels.

Fed Chair Jerome Powell Expected to Set Stage for September Rate Cut

Jacksonville, FL

Jacksonville Today

A permanent marker will be erected to honor the victims of the racist mass shooting nearly a year ago at a Dollar General store in the New Town community. City Council approved the marker 17-0 on Tuesday night.

Marker will honor victims of racist Dollar General shooting

Federal Reserve Chairman Jerome Powell did Friday what everyone expected, acknowledging in a speech in Jackson Hole, Wyoming, that the time to cut interest rates from their two-decade high is now. “The time has come for policy to adjust,” Powell said. “The direction of travel is clear, and the timing...

Powell: Time to Lower Interest Rates Has Arrived

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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