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LendingClub recently replaced its old high-yield savings account with the LendingClub LevelUp Savings Account, which offers up to 5.30% annual percentage yield (APY). LendingClub's previous high-yield savings account, the LendingClub HighYield Savings Account, came with 5.00% APY. How to qualify for LendingClub's savings account 5.30% APYIt's pretty easy to open a savings account with LendingClub. How LendingClub's LevelUp Savings account compares to other high-yield savings accountsOther banks also offer high interest rates on savings accounts. EagleBank High-Yield Savings Account: Earn up to 5.35% APYThe EagleBank High-Yield Savings Account offers the potential to earn a slightly higher interest rate: up to 5.35% APY.

Persons: you've, you'll, LendingClub, EagleBank, Kit, Kit Pulliam, They’ve Organizations: Western Alliance Bank, Western Alliance, Yield, Kit Pulliam, Business, Tax, MSN, Vanderbilt University

☆ This couple went on one cruise together. Now, they're moving onto a never-ending residential cruise ship.
▼ + stars: | 2024-08-24 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

AdvertisementThat is, until this spring, when Canen and Bodin, both 54, uprooted their lives in Maui, Hawaii, to move onto a new residential cruise ship called Villa Vie Odyssey. AdvertisementThe couple sold their business in MauiBodin told BI that before Villa Vie, the couple had never really considered leaving Maui. "We went pretty much every day for two weeks and spent all day there until they kicked us off," Canen told BI. AdvertisementBefore committing to Odyssey, Canen and Bodin looked into Storylines, which plans to construct its own residential cruise ship, MV Narrative. AdvertisementAre you sailing on a residential cruise ship like Villa Vie or have a tip?

Persons: —, Lanette Canen, Johan Bodin, Canen, Bodin —, we'd, Bodin, Mikael Petterson, Fred Olsen Cruise, Lanette, Villa Vie's, Villa, Maui Bodin, they've, Petterson, Villa Vie, We're, Angela, Stephen Theriac Canen, they'd, Kendra Holmes, they're Organizations: Service, Business, Villa, Residences, Fred Olsen Cruise Lines, South Pacific, YouTube, Sea Cruises, Cruises, Victoria Cruises Locations: Maui, Hawaii, Europe, Asia, Australia, South, North America, Africa, Belfast, Ireland, Braemar, Maui —, Italy, Croatia, Slovenia, Sweden, Canary, Norwegian, Villa Vie, Canen, Petterson

☆ Engaged Capital might have the recipe to build value for shareholders at Portillo's
▼ + stars: | 2024-08-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

The company was acquired by private equity firm Berkshire Partners in 2014 from the founder for approximately $1 billion. The non-Chicago locations have achieved AUVs of $6 million to $7 million, more than double quick service restaurants and fast casual industry averages. While Portillo's has much larger AUV than its peers, the company has an even larger average footprint than peers. Closing this gap will take significant capital allocation improvements, technology initiatives, marketing plans, real estate restructurings and operational advancements. Engaged is supportive of management and expects they will recruit a strong operator into the presently vacant COO role.

Persons: Portillo's, –, Ken Squire Organizations: Berkshire Partners, Berkshire, Management, NFL, Del, Shake, 13D Locations: Berkshire, Chicago, Portillo's, That's, Del Frisco's

☆ A famed economist who called the 2008 recession warns the Fed is behind on rate cuts — and that a downturn is coming despite 'off the charts' investor sentiment
▼ + stars: | 2024-08-24 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

"Incredibly, the Fed raised rates 500 basis points under a false presumption — by over one million — of just how robust the jobs market was," Rosenberg said. AdvertisementIn addition to the yearly revisions, monthly payroll revisions from the Bureau of Labor Statistics have also been poor more recently. Related storiesOne is a model that aims to enhance the yield curve as a recession indicator by taking into account US businesses' ability to repay debts and the Fed's National Financial Conditions Index. A soft-landing outcome, where the Fed avoids sending the economy into recession, is also still the consensus view on Wall Street. With inflation down under 3% and rate cuts almost surely on the way, such a scenario is still seemingly possible.

Persons: —, David Rosenberg, Rosenberg, Merrill Lynch, Pascal Michaillat, Emmanuel Saez, Vane, Chuck Prince, Ian Shepherdson, Shepherdson, payrolls, Jerome Powell, Powell Organizations: Service, Federal Reserve, Rosenberg Research, Business, Bureau of Labor Statistics, Fed, Treasury, Pantheon, Labor Locations: Jackson Hole , Wyoming

☆ The next shoe to drop in FX markets will reshuffle currency values in an unexpected way. Here's how TD Securities is trading it.
▼ + stars: | 2024-08-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Cooling global growth, continued geopolitical risks, and uncertainty around US election outcomes mean it could be a choppy ride for the next few months. But if US economic data stabilizes while global growth slows, as Bharadwaj expects, European currencies could be set for a violent snapback. "I do think that global growth right now is not holding up from our data trackers. "And in fact, we actually track global growth upgrades versus downgrades. And after a very long time, global growth downgrades are outpacing global growth upgrades, which indicates to me that even the global growth is not as rosy as markets are currently pricing it to be."

Persons: Jayati Bharadwaj, it's, Bharadwaj, you've Organizations: Service, TD Securities, Business, International Monetary Fund, Federal Reserve, Securities Locations: China, Europe, India

☆ Hezbollah: What weapons does it have? A visual guide
▼ + stars: | 2024-08-24 | by ( Lou Robinson | ) edition.cnn.com time to read: +4 min

Though no match for Israel’s military might, Hezbollah’s increasingly sophisticated arsenal has the potential to inflict significant damage on Israel and its allies in the region. As it fought in the trenches of that nearly decade-long war, Hezbollah became seasoned in urban warfare and solidified its alliances with other Iran-backed groups fighting in Syria. Throughout its decades-long conflict with Israel, Hezbollah has been engaged in asymmetric warfare. It has sought to grow its political and military might, while seeking to establish deterrence despite Israel’s military superiority. Because of Hezbollah’s growing power, a possible all-out war between Israel and Lebanon would thrust the Middle East into uncharted waters.

Persons: Yemen’s Houthis, Bashar al, Assad Organizations: CNN, Islamic Locations: Iran, Lebanon, Israel, Yemen, Syria, Gaza, Iraq, Red, Beirut, Islamic Republic

☆ Instead of spending money on camp or day care, I kept my daughter home this summer. We got more quality time, but it was harder to work.
▼ + stars: | 2024-08-24 | by ( Evan Porter | ) www.businessinsider.com time to read: +6 min

We'd been too overwhelmed to track down summer camps and get on registration wait lists, and spots were starting to fill up. AdvertisementNo summer camp, no formal childcare at all. Most day camps in our area run at least $200 for a week (and that's being conservative). AdvertisementTo make matters worse, our daughter just didn't seem overly thrilled about most of the camp options out there. The author kept his daughter home from summer camp or day care this summer.

Persons: Evan Porter Organizations: Service, Business Locations: Atlanta

☆ Fed’s Powell Signals an Upcoming Rate Cut in Jackson Hole Remarks
▼ + stars: | 2024-08-23 | by ( ) www.nytimes.com time to read: +1 min

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. We will do everything we can to support a strong labor market as we make further progress toward price stability. Today, the labor market has cooled considerably from its formerly overheated state. The unemployment rate began to rise over a year ago and is now at 4.3 percent — still low by historical standards, but almost a full percentage point above its level in early 2023. The upside risks to inflation have diminished.

☆ I'm training for my first marathon and am scared of 'hitting the wall.' An expert told me how to avoid burnout.
▼ + stars: | 2024-08-23 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

I've never hit the wall before, but I've met enough marathon runners to know its lore. McDowell shared a few things marathon runners can do before and during the race to hop over that wall. "When you're training for a marathon, you want to be training your eating and drinking as well as your running," McDowell said. Most marathon runners do this with supplements, which come in various forms, from gels to chews. She said most marathon runners — especially first-timers — walk at least part of the race.

Persons: —, I've, Milica McDowell, McDowell Organizations: Service, New York City, Business, Gatorade

☆ The one question on everyone’s mind about interest rates
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

That’s precisely why the Fed is poised to cut interest rates in September for the first time since 2020. Therein lies the one question on everyone’s mind: How aggressively will the Fed ultimately cut rates? A high threshold for jumbo rate cutsThe Fed makes its decisions on interest rates consistent with what’s happening in the economy. Fed officials have mostly signaled that they’re finally ready to cut rates, but some have still expressed some hesitance. But, for now, there’s no emergency demanding the Fed cut rates aggressively next month, or any time later in the year.

Persons: Jerome Powell, pare, Price, Powell, “ They’re, ” Tani Fukui, they’re, Raphael Bostic, ” Powell, Ryan Sweet, Sweet, That’s Organizations: Washington CNN, Labor Department, Kansas City Fed, Fed, Traders, MetLife Investment Management, CNN, Atlanta Fed, Citi, Oxford Economics Locations: Unemployment, Jackson Hole , Wyoming

☆ Fed Chair Powell checks the box, and our rate sensitive stocks react accordingly
▼ + stars: | 2024-08-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

In recent weeks, Wall Street has placed greater emphasis on jobs data as investors try to gauge the health of the U.S. economy. As we've seen at various points this summer, political developments may also be influencing moves on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jerome Powell's, Powell, Stanley Black, Decker, Jim, It's, chipmaker's, Kamala Harris, Harris, Jim Cramer's Organizations: CNBC, Federal, Jackson, Decker, Nvidia, Blackwell, Democratic National Convention, Jim Cramer's Charitable Locations: U.S

☆ ‘The time has come’: The Fed just sent a crucial message about its next move
▼ + stars: | 2024-08-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

And so does the broader US economy: Economic growth this year has been solid and the Atlanta Fed is projecting that growth hasn’t slipped. “The labor market is cooling, but it’s not getting soft. A slowing job market is also playing a role in nudging the Fed to ease borrowing costs. Translation: The recent weakness in the job market could result in American shoppers curbing their spending more than expected. A big question mark is the future of America’s job market, which is a key driver of the US economy.

Persons: Washington CNN —, “, Jerome Powell, ”, “ Powell, Seema Shah, hasn’t, ” Tom Porcelli, it’s, Powell, cooldown, ” Powell, aren’t, they’re, —, “ There’s, Elizabeth Renter Organizations: Washington CNN, Federal, Fed, Markets, Asset Management, Atlanta Fed, Treasury, CNN, Walmart, America’s Locations: Jackson Hole , Wyoming, nudging

☆ Northrop Grumman is among the most overbought stocks on Wall Street. Here are others
▼ + stars: | 2024-08-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A collection of stocks on Wall Street may have recently gotten ahead of themselves. Shares of aerospace and defense contractor Northrop Grumman have advanced roughly 9% in 2024 and 5% in August alone. The company's second-quarter results in July surpassed Wall Street estimates on the top and bottom lines, while Northrop's full-year revenue outlook also beat analysts' expectations. UBS analyst Gavin Parsons recently highlighted Northrop as the bank's top pick among aerospace and defense stocks, citing awards of two of the Pentagon's top three "priority programs" as well as higher defense spending. The deal, at a planned $83.50 per share, is the largest acquisition on Wall Street in 2024 so far.

Persons: Jerome Powell, Northrop Grumman, Gavin Parsons, Kellanova Organizations: Dow Jones Industrial, Nasdaq, FactSet, UBS, Northrop, Mars, Aflac, Edison International Locations: California

This means that CD rates of 5% APY will likely decline and get less competitive. CD ladders can help you earn a great rate for longer, no matter what happens to CD rates. The best CD rates for short-term CDs are currently around 5% annual percentage yield, but that might not stay true for long. Building a CD ladder with terms paying 5% or moreRight now, short-term CDs offer better rates than long-term CDs, so our example CD ladder is shorter-term. CD ladders aren't suited to every purposeWhile CD ladders can be a good strategy for locking in high interest rates while maintaining liquidity, they aren't suited to every purpose.

Persons: Uziel Gomez, Gomez, you'll, You'll, Kit Pulliam, They’ve, Kit Organizations: Federal Reserve, AFC, Primeros, Pulliam, Business, Tax, MSN, Vanderbilt University Locations: U.S

☆ BMW Championship: Scottie Scheffler plays down ‘sore’ back after injury concerns
▼ + stars: | 2024-08-23 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

1 Scottie Scheffler appeared to struggle with tightness in his lower back after shooting 1-under during the first round of this week’s BMW Championship on Thursday, but played down concerns it might threaten his participation in the event. “I woke up just a little sore this morning,” he said. But the American played down injury concerns, saying he would be fit enough to compete as usual for the rest of the BMW Championship. It was just a little sore. The opening round of the BMW Championship in Castle Pines Golf Club, Colorado, was delayed by three hours and 10 minutes after a storm hit the area.

Persons: Scottie Scheffler, ”, I’ve, Scheffler, Hideki Matsuyama, Matt York, Keegan Bradley, Bradley Organizations: CNN, BMW, FedEx St, Jude, Club Locations: Atlanta, Pines, Colorado

☆ Mapping Ukraine’s Surprise Invasion of Russia
▼ + stars: | 2024-08-23 | by ( Josh Holder | ) www.nytimes.com time to read: +6 min

Mapping Ukraine’s Surprise Invasion of RussiaAfter two and a half years of fighting a war on their own soil, Ukrainian forces are continuing to advance within Russia, as their surprise invasion of the Kursk region enters its third week. RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed. UKRAINIAN TROOPS Guyevo UKRAINE Sumy 5 miles RUSSIA Ukraine has continued to advance in recent days, although the pace of its territorial gains has slowed.

Persons: Oleksandr Syrsky, Volodymyr Zelensky Organizations: Korenevo, American, Institute for, Labs, Planet Labs, Military, Kremlin Locations: Russia, Kursk, Ukraine, RUSSIA Ukraine, UKRAINE Sumy, UKRAINIAN, Washington, RUSSIA, UKRAINE RUSSIA, UKRAINE, Glushkovo, U.S, Pokrovsk, Niu

☆ How investors can prepare for lower interest rates: It's 'like getting a haircut,' advisor says
▼ + stars: | 2024-08-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Lower interest rates are "generally positive for stocks," said Marguerita Cheng, a CFP and chief executive of Blue Ocean Global Wealth, based in Gaithersburg, Maryland. Considerations for cash, bonds and stocksFalling interest rates generally means investors can expect lower returns on their "safer" money, advisors said. High interest rates have meant investors enjoyed fairly lofty returns on these lower-risk holdings. Winnie Sun co-founder and managing director of Sun Group Wealth PartnersHowever, such returns are expected to fall alongside declining interest rates, advisors said. "They'll be crying in six months when interest rates are a lot lower," she said.

Persons: Jerome Powell, Andrew Harnik, Winnie Sun, Lee Baker, Powell, Stephen Brown, Marguerita Cheng, Sun, Powell didn't, Ted Jenkin, Carolyn McClanahan Organizations: Getty, Sun Group Wealth Partners, Financial Advisors, Finance, North, Capital Economics, Blue, Sun Group Wealth, Planning Partners Locations: Irvine , California, Atlanta, Jackson Hole , Wyoming, U.S, North America, Gaithersburg , Maryland, Jacksonville , Florida

☆ Nvidia will be in the spotlight next week as Wall Street wraps up a tumultuous August
▼ + stars: | 2024-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.

Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan

Meet the Rural Voters Who Could Swing North Carolina’s ElectionThe most rural of the battleground states this year is North Carolina. Scroll to play video Muted Gracie Torres Gracie Torres Nick Ellison Nick Ellison Sonja Stone Sonja Stone Sharon High-Jones Sharon High-Jones Gracie Torres Gracie Torres Julius Syfrett Julius Syfrett Paige Chesson Paige Chesson Connor Webb Connor Webb Julius Syfrett Julius Syfrett Connor Webb Connor Webb Gracie Torres Gracie Torres Greg Mason Greg Mason Sharon High-Jones Sharon High-Jones Paige Chesson Paige Chesson Carl Smith Carl Smith Julius Syfrett Julius Syfrett Connor Webb Connor Webb Gracie Torres Gracie Torres Nick Ellison Nick Ellison Julius Syfrett Julius Syfrett Nick Ellison Nick Ellison Connor Webb Connor Webb Nick Ellison Nick Ellison Amanda Cameron Amanda Cameron I think Trump is a good candidate. I try to make prayerful decisions whenever I’m going in to vote. Scroll to play video Muted Julius Syfrett Julius Syfrett Politicians don’t know crap about a working man out here. When I go to vote, I’m going to be thinking When I go to vote, I’m going to be thinking a whole lot about taxes and inflation.

☆ 'Winds of change' in the air on Wall Street after Powell speech
▼ + stars: | 2024-08-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The tides are changing on Wall Street thanks to a closely watched market-moving figure: Jerome Powell. The Federal Reserve chair on Friday pointed to rate cuts on the horizon during his keynote address at the central bank's annual retreat 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." The Nasdaq Composite outperformed the major indexes, rallying about 1% due to gains in popular artificial intelligence and semiconductor names. "This keeps a tailwind at the market's back into year-end, making it harder to expect a retest of this month's lows," said David Russell, global head of market strategy at TradeStation.

Persons: Jerome Powell, Chris Rupkey, Russell, Powell, David Russell Organizations: Federal, Nasdaq Locations: Jackson Hole , Wyoming, Covid

☆ Stock market today: Dow rises 462 points as stocks rally after Powell says rate cuts are coming
▼ + stars: | 2024-08-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks surged as Fed chair Jerome Powell signaled imminent interest rate cuts. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data," Powell said. AdvertisementUS stocks rallied on Friday with the Dow Jones Industrial Average gaining more than 450 points after Federal Reserve Chairman Jerome Powell confirmed that interest rate cuts are near. That should pave the way for an interest rate cut at the Fed's FOMC meeting in September. AdvertisementWith interest rate cuts imminent, investors are now asking how big the Fed will cut rates by.

Persons: Jerome Powell, Powell, —, Ryan Detrick Organizations: Jackson, Service, Dow Jones Industrial, Federal, Treasury, Fed Locations: Here's

☆ Fed Chair Powell indicates interest rate cuts ahead: 'The time has come for policy to adjust'
▼ + stars: | 2024-08-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve 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. "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." The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic," Powell said. He vowed that "we will do everything we can" to make sure the labor market says strong and progress on inflation continues.

Persons: Jerome Powell, Jackson, Powell, Stocks, Paul McCulley Organizations: Traders Locations: Jackson Hole , Wyoming

☆ Fed Chair Powell Signals ‘Time Has Come’ for September Rate Cut
▼ + stars: | 2024-08-23 | by ( Jeanna Smialek | ) www.nytimes.com time to read: 1 min

Speaking in his most closely watched speech of the year, Jerome H. Powell, the chair of the Federal Reserve, clearly signaled that the central bank was poised to cut interest rates in September. And while Mr. Powell stopped short of giving a clear hint at just how large that move might be, he forcefully underscored that the central bank stands prepared to adjust policy to protect the job market from weakening further and to keep the economy on a path for a soft landing. “The time has come for policy to adjust,” Mr. Powell said during the Kansas City Fed’s annual conference at Jackson Hole in 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.”He then added: “We will do everything we can to support a strong labor market as we make further progress toward price stability.”

Persons: Jerome H, Powell, Mr Organizations: Federal Reserve, Kansas City, Jackson Locations: Kansas, Wyoming

☆ U.S. crude oil rises above $74 per barrel but is on pace for weekly loss
▼ + stars: | 2024-08-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Strategic Petroleum Reserve (SPR) Bryan Mound storage facility located in Brazoria County, Texas, is one of four sites that make up the country's oil reserve. Crude oil futures rose more than 1% on Friday, but are on pace for a weekly loss as slowing demand in China weighs on the market. "That has really evaporated from the market," Croft said. "The market has really refocused on these demand concerns," Croft said. "Chinese demand concerns have really weighed on this market as well as broader concerns about the macro outlook," she said.

Persons: Brent, Helima Croft, CNBC's, Croft Organizations: Strategic Petroleum Reserve, RBC Capital Markets, Traders Locations: Mound, Brazoria County , Texas, China, Iran, Israel, Tehran

☆ Watch live: Fed Chair Jerome Powell speaks from Jackson Hole conference
▼ + stars: | 2024-08-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank's annual retreat in Jackson Hole, Wyoming. Powell was widely expected to chart a path forward that includes interest rate reductions as the pace of inflation eases and concerns increase about the durability of the U.S. economic expansion. In previous years, he has used Jackson Hole to lay out significant policy initiatives and intentions. Markets widely expect the Fed to begin lowering rates in September and continue with a series of cuts through at least 2025. Read more:Fed minutes point to 'likely' rate cut coming in SeptemberFed survey shows lows in employment, worries about finding work and dissatisfaction with payPhiladelphia Fed President Harker advocates for interest rate cut in SeptemberSubscribe to CNBC on YouTube.

Persons: Jerome Powell, Powell, Jackson, Read, Harker Organizations: Philadelphia, CNBC, YouTube Locations: Jackson Hole , Wyoming

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