Fed's Powell faces dilemma
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The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
The U.S. dollar drifted on Thursday as investors awaited policy cues from the Federal Reserve’s Jackson Hole symposium while keeping an eye on renewed concerns over central bank independence after President Donald Trump’s latest salvo.
The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path.
Jay Powell’s speech at the Federal Reserve’s August summit in Jackson Hole, Wyoming, is always a high-stakes moment. This year, the central bank’s chair takes the podium under fire — facing fierce attacks from Donald Trump and a growing insurgency within his own institution.