Fed's Barkin said some aspects of the US economy remain a mystery because consumers and overall economic activity have not been affected by the shock.

On Aug 11 China Iron and Steel Association vice president Xia Nong chaired a roundtable on domestic iron ore project development under the "Iron Resource Development Plan." CISA said domestic iron-mining has made phased progress but remains short of resource-security targets. It called for focus on key links, stronger departmental coordination, a standing communication mechanism to surface and resolve firms' practical difficulties, dynamic updates to a priority iron-ore project list, and accelerated delivery of key projects to bolster domestic iron-ore security and support stable steel-industry development.

Mexico's President Sheinbaum said Colombia has not approved a Mexican rescue team.