Powell may use Jackson Hole speech to hint at how fast and how far the Fed could cut rates

Washington — Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation. Now, it’s the health of the job market that’s starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest…

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US sanctions former Haitian president over drug trafficking

WASHINGTON — The United States on Tuesday imposed sanctions on Haiti’s former president, Michel Joseph Martelly, over drug trafficking, accusing him of playing a significant role in perpetuating the ongoing crisis in the country. The U.S. Treasury Department in a statement said Martelly “abused his influence to facilitate the trafficking of dangerous drugs, including cocaine, destined…

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Firefighters significantly tame California’s fourth-largest wildfire on record

CHICO, Calif. — California’s largest wildfire this year has been significantly tamed as the state’s initially fierce fire season has, at least temporarily, fallen into a relative calm. The Park Fire was 53% contained Monday after scorching nearly 1,738 square kilometers in several northern counties, destroying 637 structures and damaging 49 as it became the state’s…

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