The central bank retired a previous strategy and on Friday unveiled a new approach that updates how inflation and employment are balanced.

St. Louis Fed President Alberto Musalem said on Friday he will need more data before deciding to support a rate cut at the Fed's September 16-17 meeting given that inflation is above the Fed's 2% target and is expected to move higher,

Fed Chair Jerome Powell outlined the central bank's renewed focus on the labor market in the months ahead, which has big implications for interest rates this year and beyond.

Federal Reserve Bank of Chicago President Austan Goolsbee said while some recent inflation readings have come in better than expected, he hopes one “dangerous” data point is just a blip.

Behind closed doors, officials at the Federal Reserve said much the same as they've said in public: that concerns over tariffs stoking inflation led them to keep the central bank's interest rate flat in July instead of cutting it.

South Africa's rand was weaker in early trade on Tuesday, as investors looked to the Fed's Jackson Hole symposium for hints on the U.S. interest rate trajectory, while also eyeing inflation figures from Africa's most industrialised economy.

Federal Reserve Chair Jerome Powell delivers a high-profile address at the annual Jackson Hole Economic Policy Symposium.

The Fed’s annual forum at Jackson Hole has long been a must-watch event for Wall Street, but this year’s meeting brings extra scrutiny.