In highly anticipated remarks at the Jackson Hole economic symposium on Friday, Federal Reserve Chair Jerome Powell acknowledged the central bank's efforts to combat inflation will cause "some pain" but argued a failure to restore price stability would mean "far greater pain." more...
Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved by much more than previously estimated in the month of August. The report showed the consumer sentiment index for August was upwardly revised to 58.2 from the previously reported 55.1. Economists had expected the index to be upwardly revised to 55.2. more...
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