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Ben Bernanke

Fed's No. 2 official may shed light on interest rate hike at symposium

Fed's No. 2 official may shed light on interest rate hike at symposium

The Federal Reserve's summer symposium in Jackson Hole, Wyo., often has provided a stage for central bank officials to signal an imminent policy change. In August 2007, as strains in the housing market grew, then-Chairman Ben S. Bernanke gave a heads-up on what would be a 0.5-percentage-point cut in its benchmark interest rate the following month. At the 2011 meeting, Bernanke laid the groundwork for a new round of bond purchases to stimulate a slowing recovery. Thanks to the recent turmoil in global markets, the eyes and ears of the financial world will be focused once again on the annual conference, which is hosted by the Federal Reserve Bank of Kansas City. The Fed's No. 2...

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