WASHINGTON, Aug 21 — Stocks recovered ground yesterday despite concerns about economic growth amid rising Covid-19 cases, which continued to take its toll on oil prices.
The Fed is likely to dominate the economic conversation next week as well with an annual meeting of central bankers at Jackson Hole, Wyoming. Markets will be watching for any clearer indication on plans for a Fed taper of monthly bond purchases, which minutes showed officials believed would happen this year if the economy recovers as expected. Fed Chairman Jerome Powell will deliver remarks on the economic outlook next Friday.