speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBCAtlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank’s target.Previously one of the more hawkish policymakers, or in favor of tighter policy to fight inflation, Bostic noted that his focus is shifting more towards the employment side of the Fed’s mandate as signs increase of labor market softening.”I believe we cannot wait until inflation has actually fallen all the way to 2 percent to begin removing restriction because that would risk…
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Here are the most important news items that investors need to start their trading day:1. Off to a rough startStocks kicked off the new month in the red, with all three major averages suffering their worst days since the Aug. 5 global market sell-off. The Dow Jones Industrial Average fell more than 600 points during Tuesday’s session, moving 1.51% lower to close at 40,936.93. The S&P 500 moved 2.12% lower, finishing the session at 5,528.93. The tech-heavy Nasdaq Composite saw the biggest percentage drop of the three, falling 3.26% to close at 17,136.30. Follow live market updates.2. Still in a…
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