Trump believes interest rates are needlessly high and has skirted traditional norms on central bank independence to sharply criticize Fed Chair Jerome Powell and the institution for not slashing borrowing costs, accusing them of damaging the economy. The Producer Price Index (PPI) rose by 0.9 percent on the month in July, the U.S.

A jump in U.S. wholesale prices last month looks to have all but erased the possibility that the Federal Reserve will deliver a jumbo-sized half-point interest-rate cut in September, though expectations for a quarter-point cut next month,

Crypto Remains in the Spotlight: Investors continue to buy all things crypto. Bullish (BLSH) went public in an IPO yesterday, with its stock soaring from its offer price of $37 to $68 – an 84% gain – but shares had been as high as $118, a 219% rise. BLSH is up another 13% in premarket trading.