Fed Chair Kevin Warsh said that since Fed policymakers last met in June the US economy has strengthened and underlying growth momentum has picked up. He described the labor market as essentially at full employment but said inflation trends have shown no improvement, noting price stability has been unsettled for more than five-and-a-half years; recent weeks' broad data also point to a stronger economy.

Japan's August oil import bill rose 58.7% YoY while import volumes increased only 3.6% YoY, lifting overall imports 28% YoY and widening the trade deficit for a fourth consecutive month. Daiwa Research analyst Koki Akimoto said crude-price pass-through to cargoes arriving in Japan typically has about a two-month lag, so oil import costs may rise further from September, further weakening Japan's terms of trade.

FOMC statement: members unanimously agreed on this meeting's interest-rate decision; prior meeting vote was 9-3.