If inflation starts climbing again after a rate cut, “the Fed will have to reverse course—and in the worst case, start hiking again,” Slok said.

Powell’s speech comes amid unprecedented pressure from the White House aimed at getting the central bank to lower borrowing costs.

World shares are mixed after Wall Street fell to a fifth straight loss, and as traders look for cues about U.S. monetary policy from a meeting of central bankers in Jackson Hole, Wyoming

As Fed Chairman Jerome Powell spoke at the annual conference in Wyoming, U.S. President Donald Trump threatened to fire Fed Governor Lisa Cook.

If you are retired, you probably need to live off the income from your investments, particularly bonds and certificates of deposit. So what you want are higher interest rates, low inflation and a strong, independent Federal Reserve that can keep inflation low in the future. On Friday, you went 0 for 3.

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