Cenc measured a magnitude-3.7 earthquake at 11:00 on Aug 20 in Fan County, Puyang, Henan (35.87N, 115.68E); focal depth 24 km.

Three Fed officials dissented at the July meeting, arguing for a hike because core inflation was 2.6%—well above the 2% target. August data have weakened that rationale: core CPI (ex food and energy) rose 2.5% YoY in July, the weakest since Mar 2021, and July payrolls showed a decline of 23,000 jobs. CITIGROUP US chief economist Andrew Hollenhorst said those prints will make it difficult for the minutes to materially raise the market’s reduced odds of further rate hikes. The minutes should still clarify how large the Fed’s internal “hawk” vs “dove” split was at the July meeting and may reveal how officials plan to define and assess inflation pressures going forward. JP Morgan chief US economist Michael Feroli said the minutes could show how much tolerance FOMC members have for inflation above the target.

受特朗普推遲關稅措施影響，標普/多倫多證券交易所綜合指數開盤上漲0.7%。