President Donald Trump will tap his top economic advisor Kevin Hassett to be the next Fed chair, according to respondents to a special Jackson Hole Edition of the CNBC Fed Survey. But when asked who the president should pick, Hassett ranked a more distant fourth.

In late July, Federal Reserve Chair Jerome Powell kept the central bank's options wide open for its next meeting, and said the Fed would "watch and learn" about th

After somewhat positive inflation data in July, the chances of the Federal Reserve cutting interest rates in September are at roughly 83%, according to CME Group 's FedWatch tool calculations on Aug. 18. One month earlier, roughly 59% of traders betting on changes in the federal funds rate thought an interest rate cut would occur in September.

Inflation held steady in July and ran slightly cooler than expected, increasing the odds of a Federal Reserve rate cut next month.

Federal Reserve policymakers will be debating whether stubborn inflation or slower hiring is the bigger problem for the economy as they prepare for an annual conference in Jackson, Wyoming, next week and a crucial policy meeting in September.

Trump and Wall Street want the Fed to lower the target policy interest rate and fuel more monetary inflation. If Trump gets his way, ordinary people will suffer

WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.

South Africa's rand was on the back foot for much of Tuesday's trading session as markets awaited the U.S. Federal Reserve's upcoming Jackson Hole symposium and inflation figures from Africa's most industrialised economy.

Ahead of the Federal Reserve’s annual conference in Jackson, Wyoming, which starts on Thursday (Aug. 21), the topic of inflation will dominate discussions.