Powell to Put Rates, Fed Independence
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Traders are hoping that Fed chair Jerome Powell will indicate an imminent cut to interest rates during his remarks - but this is far from guaranteed.
Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.Bullion traded around $3,340 an ounce, paring some of the gains made on Wednesday when President Donald Trump’s call for Fed Governor Lisa Cook to resign bolstered haven demand.