Germany's Federal Employment Agency said on Friday seasonally adjusted unemployment rose by 4,000 in August to 2.996 million, versus a market-expected increase of 5,000. The seasonally adjusted unemployment rate remained unchanged at 6.4%. Not seasonally adjusted unemployment stayed above 3.0 million for a second month. Agency head Andrea Nahles said: "Even in August, beyond the usual seasonal changes, the labour market showed almost no vitality. This continues the weakness seen in recent months

摩根士丹利首席美国经济学家Michael Gapen、全球宏观策略主管Matthew Hornbach就沃什的杰克逊霍尔讲话给出明确的核心判断：不要期待沃什在这次讲话中给出太多短期利率指引，原因是沃什此前反复表示，美联储应该减少沟通、减少前瞻指引。 因此摩根士丹利认为， 沃什大概率不会重点讨论：9月会议怎么做、12月利率是多少、年内到底降息还是加息几次、短期资产负债表政策。但他们认为沃什可能会借杰克逊霍尔这个平台，开始谈几个更长期的“大问题”：① 美联储资产负债表② 通胀框架③ 美联储沟通方式④ AI与生产率⑤ 美国经济数据质量。这些恰好对应沃什此前成立的几个工作组。 所以摩根士丹利的核心预判可以概括成：这可能不是一次“9月降不降息”的讲话，而是沃什第一次比较系统地解释自己想把美联储带向什么方向。

China's 14th National People's Congress Standing Committee concluded its 24th session in Beijing on the afternoon of the 28th. The committee voted to pass the Medical Security Law; the Farmland Protection and Quality Improvement Law; a newly revised Agricultural Law; a newly revised National Defense Mobilization Law; and a decision to amend the Lawyers Law. It removed Lu Zhiyuan as minister of civil affairs and appointed Li Changguan as minister. CHINA signed presidential orders Nos. 80–85. Chairman Zhao Leji presided over the closing session.