By Kristin Myers, Editor-in-Chief

What's Happening Today

The recent wave of good economic data might have ended and investors may be back to feeling anxious, as stocks have fallen ahead of Federal Reserve Chair Jerome Powell's keynote address at the Jackson Hole Economic Symposium later this week.

Held annually in Jackson Hole, Wyoming since 1981, the symposium brings together central bankers and economists from around the world to discuss the most pressing issues impacting the economy and affecting monetary policy.

Powell is expected to share the central bank's economic outlook in an address on Friday morning, which will likely include the bank's view on inflation, recession possibilities, and future rate hikes.

Policymakers at the Fed have repeatedly said they will do what it takes to bring inflation down in line with the Fed's inflation target of 2%—a long way off from the 8.5% annual inflation rate we experienced in July.

Currently, the central bank is expected to hike rates at least one more time in September at the bank's next policy meeting. But by how much? Markets are fairly split right now on whether the Fed will hit us with another supersized rate hike which would make borrowing money—like for a mortgage or a car—even more expensive.

- Kristin

Editors' Picks

What a Rise in Interest Rates Means for Your Portfolio (The Balance)

Your Steak Is Getting Cheaper at the Supermarket (The Wall Street Journal)

6 Ways To Save Money on a Tight Budget (The Balance)

New Apartments at 50-Year High May Ease Pressure on US Rents (Bloomberg)

How Subject-To Loans Work in Real Estate (The Balance)

JPMorgan Strategists See Fed's Last Big Rate Hike in September (Yahoo Finance)

Financial Planning Tips for High School Students (The Balance)

Term of the Day

Certificates of Deposit (CDs)

As the Fed raises interest rates, the rates on savings accounts, and certificates of deposit (CDs) have climbed as well. CDs are among the safest investments available from banks and credit unions.

They typically pay higher interest rates than savings accounts and money market accounts, but there's one drawback: You have to lock up your money in the account for a specified period of time. It's possible to get it out sooner, but you'll most likely pay an early withdrawal penalty.

Off the Charts

If you've been waiting for home prices to start coming down, it's finally happening. The median price for a home was $403,800 in July, $10,000 less than the record high of $413,800 hit in June, according to the latest report from the National Association of Realtors.

On Tuesday, August 23 at 3 p.m. EDT, join us on Instagram Live for a discussion with The Balance Editor-in-Chief Kristin Myers and Nasozi Kakembo, Founder of xN Studio, on how to prepare to make a down payment as a first-time homebuyer. Follow us on Instagram to get updates on The Balance's live events this month!