South Africa's rand was little moved on Wednesday, despite the country's highest inflation reading for 10 months, as investors awaited minutes from the Fed's July meeting and a symposium later this week that could provide U.

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.

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

Ken McElroy discusses the current US inflation rate of 9.1% and the Federal Reserve's target inflation rate of 2%.

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.

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.

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.

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