Fed's Hammack said markets can complement the Fed but cannot replace it.

Aug 28 — An eVTOL vertical takeoff-and-landing aircraft completed a manned test flight in Hong Kong, the developer said. The project is among the first non-traditional aircraft pilots selected for the HONG KONG GOVT low-altitude economy regulatory sandbox X. The flight was stable, including hover and controlled descent, and concluded with a safe landing. The developer described the tested model as a flagship manned product aimed at urban congestion and long ground-commute applications for future passenger transport.

Early on Aug. 29 local time, heavy gunfire broke out in Niamey after a mutiny by junior military officers, sources said. Rebel units converged on the capital from Tillaberi and Dosso, mounting multi-pronged attacks on the Presidential Palace, Diori Hamani International Airport and the national television station. Sources said assaults on the TV station and Presidential Palace were repelled, but fighting remains intense around the 101st Air Base near the airport. Nigerien national TV, which earlier went off air, has resumed broadcasting.