Wall Street gains as Fed officials temper rate hike expectations

"Today's new normal counsels prudence in the removal of policy accommodation," said Brainard, a permanent voting member and the last official scheduled to speak before the quiet period ahead of the Fed's policy-setting meeting on Sept. 20-21. The comments from Brainard followed those from Atlanta Fed Bank President Dennis Lockhart and his Minneapolis counterpart Neel Kashkari earlier where they suggested there was no urgency in raising rates.