Biden to stage first political rally ahead of November elections - August 25, 2022

The Federal Reserve’s annual conference near Jackson Hole, Wyo. is getting special scrutiny this year as investors grasp for hints at what the Fed’s next move on inflation will look like. Fed watchers anticipate this year’s meeting will both dissect what has gone wrong and provide an economic outlook two years into a new framework that was supposed to overhaul how the Fed conducts monetary policy. Stock futures rose Thursday but economists are expecting volatility following Federal Reserve Chairman Jerome Powell’s address – investors have historically paid close attention to the Fed chief’s remarks. Scouts on a tour through the Midwest are finding the country’s corn crop stunted and browning from rough conditions throughout the season, prompting a growing concern over a production deficit. Markets are already reacting to a potential corn shortage, pushing prices higher and exacerbating concerns about global food inflation. The U.S. is the biggest producer and exporter of corn, which is used in everything from animal feed to biofuels and sweeteners. Nearly three-quarters of U.S. farmers say this year’s drought has hurt their harvest and farmers in Texas reported having to sell their cattle herds earlier than normal as hot weather dries out water sources and grass burns up. Drought conditions at a state park near Fort Worth, Texas exposed dinosaur tracks from around 113 million years ago that were previously hidden underneath the Paluxy River. Similar tracks have been found in British Columbia and South America and the new find offers educators and researchers increased insight into dinosaur behavior. The extreme drought prompted a dip in water levels across key water reservoirs and revealed other discoveries, including human remains and a ship dating back to the second world war. President Joe Biden on Thursday will stage his first political rally in the final stretch to the November midterm congressional elections, looking to give Democrats a boost and prevent Republicans from taking control of Congress. Whil