Fed's Barkin said there is ample reason to believe inf will ease, given moderate compensation pressures and that tariffs, oil and other shocks may dissipate.

Typhoon White Dolphin and its remnant circulation have produced widespread heavy rain across more than 10 Chinese provinces. The remnant vortex remains active and is drifting east into the sea under a westerly trough. Once over water it could regain marine heat and moisture and potentially re-intensify; a northward track would bring heavy rain to Northeast China, with Jilin and Heilongjiang at risk on Aug. 17-18. China's central meteorological agency forecasts roughly two additional typhoons may form in the northwest Pacific and South China Sea over the next 10 days.

IRGC senior adviser Mohammad Reza Naqdi told PBS on Aug. 11 that Washington’s two main war objectives — toppling Iran’s leadership and fracturing the country — “have failed” and “victory is on Iran’s side.” He said the US appears confused, repeatedly announcing new aims and turning the campaign into a “war without strategy.” Naqdi added that in more than five months of combat against the US, Iran has gained experience and found US forces weaker than expected. He said Iran must establish deterrence and that one method is to “prolong the war” to exhaust the US so future attackers will rethink the costs.