Maybe the third time Jerome Powell will getlucky.

The Federal Reserve chairman looked close to pullingoff a soft landing of the ebbing U.S. economy twice thisyear—at the start of May and the end of July.

Each time, though, he saw his plans blown off course via anescalation of trade tensions by President Donald Trump.Things were bad enough in August that Powell delayed his vacationby a day to assess the fallout.

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