The daily business briefing: August 26, 2016

Fed officials support rate hike ahead of Yellen speech, Apple patches iPhone security after hacking attempt, and more

An Apple iPhone
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1. Fed officials make case for rate hike ahead of Yellen speech

Two Federal Reserve officials argued Thursday that, with the economy near full employment and inflation rising toward the Fed's target, the case was getting stronger for another interest rate hike. The statements came at the central bank's annual meeting in Jackson Hole, Wyoming, ahead of Friday's speech by Fed Chairwoman Janet Yellen, at 10 a.m. Eastern time. Investors have traded cautiously all week as they wait for clues from Yellen on how she sees the economy, and when the next interest rate increase might come.

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