A security guard patrols the Federal Reserve building in Washington, DC, U.S., July 16, 2018. REUTERS/Leah Millis
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Big questions on global economy hang over Jackson Hole gatheringSummer break for central bankers ends this week when their leaders gather Friday and Saturday for the Federal Reserve's annual policy symposium in Jackson Hole, Wyoming. With Fed Chairman Jerome Powell set to deliver a Friday morning speech, investors will be looking for clarity on a host of issues, ranging from the likely path of interest rates and balance sheet policy, to Powell's take on emerging-market turmoil.The Fed is widely expected to hike rates for a third time this year in September, but a fourth move in December is less certain.Economists predicted, however, that unless global financial conditions worsened considerably, the Fed wouldn't delay hiking in September.The European Central Bank has laid out a relatively clear policy path over the next year.The bank's weekly schedule indicates no executive board members will speak at the Jackson Hole symposium this year, though some officials are likely to attend.
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