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A volatile ride for global markets this week looked set to end with a whimper on Friday as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply. Fed officials who are most anxious to raise rates said during an annual global central bankers' conference in Jackson Hole, Wyoming that continued financial market turmoil may cause the U.S. central bank to delay tightening monetary policy beyond September. The Fed is waiting to see how data and markets unfold over the coming weeks before deciding whether to raise rates at its meeting in mid-September, Vice Chair Stanley Fischer told CNBC.
NEW ORLEANS (AP) — Former President George W. Bush returned Friday to New Orleans, where he was vilified for his administration's lackluster response to Hurricane Katrina, to praise the city's comeback 10 years after the catastrophic storm.