Key Points Cleveland Federal Reserve President Beth Hammack said Friday she would be hesitant about lowering interest rates as long as inflation remains a threat. In a CNBC interview, she said, “I don’t want to move us to a place where we’re being accommodative, because I worry that if we’re accommodative, we could reinvigorate the […]
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Federal Reserve Chair Jerome Powell delivered his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming. He indicated that conditions ‘may warrant’ interest rate cuts as the Fed proceeds ‘carefully.’ Markets have been looking to Powell to provide strong hints about a September interest rate cut. For their part, the […]
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Key Points Job “switchers” typically see their wages grow at a faster rate than workers who stay in their current roles. However, that trend has reversed for the past six months, since February, data shows. Such a reversal rarely occurs outside of periods of weakness in the labor market, economists said. Source
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