White House National Economic Council Director Hassett: Federal Reserve Chairman Warsh is moving things in a positive direction. We respect the independence of the Federal Reserve.

Domestic News: 1. The People's Bank of China held its 2026 second-half work conference: It will continue to implement a moderately loose monetary policy. 2. The State Administration of Foreign Exchange held its 2026 second-half foreign exchange management work exchange meeting: It will continue to steadily expand institutional opening-up in the foreign exchange field. 3. The China Cotton Association: Opposes US sanctions and suppression of Chinese cotton textile enterprises. 4. State Grid: Electricity load in many areas has reached record highs; multiple measures are being taken to ensure power supply. International News: 1. Brazil's Workers' Party officially confirmed Lula as its presidential candidate. 2. The immigrant crisis in the Spanish enclave of Ceuta has resulted in 72 deaths. 3. OPEC+ agreed to increase September's oil production quota by 188,000 barrels per day. 4. Japanese officials: Japanese Finance Minister Satsuki Katayama will officially announce on Monday a coordinated Japan-US action to curb the yen's depreciation; the intervention is not yet over. 5. Middle East situation— ① Trump: Received a request from Iran and has agreed to cancel the strikes against Iran; the Iranian military called this a "lie." (Trump calls off strikes against Iran for the eighth time) ② Iranian President: The memorandum of understanding with the United States will be the core of our future diplomatic relations. ③ Iranian media: Reports that Iran has agreed to reopen the Strait of Hormuz are fake news. ④ Iranian Foreign Ministry: Negotiations between Iran and Oman are nearing completion. The Strait of Hormuz will not return to its pre-war state, and the reopening issue is unrelated to the Oman negotiations. ⑤ Israel claims Netanyahu learned of the US call to halt strikes against Iran through Trump's social media. ⑥ Iranian Parliament National Security Committee: Mediators are assisting in restoring the memorandum of understanding between Iran and the United States, and all parties have exchanged views on all issues. ⑦ Trump: US-Iran negotiations will begin tomorrow (morning of the 4th Beijing time), and an agreement has been reached on the Strait of Hormuz.

Federal Reserve's Williams acknowledged the uncertainty surrounding the impact of the Middle East wars.