Jerome Powell's Jackson Hole speech in focus
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Federal Reserve chair is under bombardment from Donald Trump and battling an insurgency within the central bank
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Powell has used Jackson Hole to battle inflation and buoy jobs; he's now caught between both
By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.
The Nasdaq fell as megacaps lost, after having rallied for much of the year. Nvidia fell 3.5%, the biggest drop in nearly four months.
Investors are tracking talks aimed at ending the Russia-Ukraine war and awaiting Federal Reserve Chair Jerome Powell's speech at Jackson Hole at the end of the week.
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.
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