Powell's Last Jackson Hole Speech Could Be a Big 1
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Fed, interest rate and inflation
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So many Federal Reserve officials have said they are waiting for data over the next few weeks before deciding on a September rate cut that it doesn't leave Fed Chair Jerome Powell much room to clearly signal a rate cut,
Almost all” officials backed July’s interest-rate decision, even though two governors backed a rate cut, according to a meeting summary.
The average rate on 30-year fixed home loans registered at 6.58% for the week ending Aug. 21, same as last week.
While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.
"HELOC interest rates are generally structured as prime plus a margin," Debbie Calixto, sales manager at mortgage lender loanDepot, says. The federal funds rate influences the prime rate, while the margin reflects an additional percentage based on your credit score and loan details.
Gold rose nearly 1% on Wednesday as the U.S. dollar eased, while market participants braced for the minutes of the U.S. central bank's last policy meeting and upcoming Jackson Hole symposium for clues on future interest rate moves.
In a typical year, Jackson Hole sparks excitement mostly among market watchers. This time, the symposium feels more pivotal.