Jaren Kerr

US stocks fell after a Federal Reserve official warned that the central bank could raise interest rates again and remain higher for longer, offsetting enthusiasm about blockbuster earnings from chipmaker Nvidia. Investors have turned their attention to the annual economic policy conference in Jackson Hole, Wyoming, where Boston Fed president Susan Collins said more rate increases may be needed to bring inflation down to the central bank’s 2 per cent target. “I am not yet seeing the slowing that I think is going to be part of what we need for that sustainable trajectory to get back to 2 per cent [inflation] in a reasonable amount of time,” Collins told the Financial Times, later adding that “that resilience really does suggest we may have more to do”.

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