LONDON/SYDNEY—World stocks were flat on Friday and the dollar edged up as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the U.S. central bank’s rate-hike path.
Investors have pared back expectations that the Fed could pivot to a slower pace of rate hikes, as U.S. inflation remains at 8.5 percent on an annual basis, well above the central bank’s 2 percent target. But Powell’s speech at 1400 GMT at the Fed’s annual conference at Jackson Hole will be scrutinized for any indication that an economic slowdown might alter its strategy.
