FTSE 100 falls ahead of crucial Jerome Powell speech – business live

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Rolling live coverage of business, economics and financial markets as investors anticipate new approach to inflation

8.04am BST

Good morning, and welcome to our live coverage of business, economics and financial markets.

It is the day investors have been looking forward to throughout August: US Federal Reserve chair Jerome Powell will make a much anticipated speech in which he is expected to address the central bank’s future approach to monetary policy.

There is an element of caution among investors as the Fed chairman, Jerome Powell, will deliver a speech on a monetary policy framework later today. Dow Jones and the S&P 500 futures are likely to experience higher volatility on the back of this. The future of the coronavirus stock market rally is highly dependent on the Fed’s monetary policy stance.

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