Federal Reserve Chairman's speech in Jackson Hole seems to be inline with expectations. I mean, he talked about progress made in taming inflation while reiterating that more needs to be done to bring it down to target. He also mentioned that economy appears to be in good shape and more rate hikes may be necessary and that this would be done cautiously via data-driven decision-making. In other economic news, University of Michigan's consumer sentiment survey showed that sentiment dropped in August. All three major US indices had dipped into red but are back in the green this morning (PST).
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