The major averages regained some of the ground they lost after the August jobs report failed to settle a key question: How aggressively will the Federal Reserve lower interest rates? The neither-hot-nor-cold data left Wall Street guessing whether a cut of 25 or 50 basis points is likely at this month’s policy meeting.
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Fed Chair Jerome Powell all but proclaimed victory in the fight against inflation during his comments at the central bank’s symposium at Jackson Hole, Wyoming, on Aug. 23.
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