Warsh is under pressure to clarify whether current inflation is a problem and, if so, how policy should respond. On Thursday some of his Fed colleagues voiced continued concern about persistent U.S. inflation. Government data on Wednesday showed July headline inflation unchanged year‑on‑year, marking the 65th consecutive month above the Fed’s 2% target. The Fed’s preferred gauge, core PCE, was up 3.3% YoY in July; monthly core PCE rose to 0.2% in July from 0.1% in June. The stronger‑than‑expecte

Panama Canal congestion is forcing some liquefied petroleum gas (LPG) carriers to take atypical routes — including rare sailings around South America — or to perform ship-to-ship transfers near Balboa on the Pacific side. Vessel-tracking shows two ultra-large oil tankers recently conducted an STS operation off Balboa; traders and brokers said this allows one ship to shuttle through the canal to sustain LPG supplies to Asian customers. Argus Media reports queue times have reached up to 19 days, the longest since 2022; some operators are paying millions of dollars to jump the line. Increased rerouting via the canal has been driven in part by the Iran war, while El Nifio-linked drought has cut water levels and prompted authorities to tighten limits on vessel cargo loads and daily transits.

Mainland A-share banking sector slipped in afternoon trade; Xi'an Bank, Zhangjiagang Rural Commercial Bank, Industrial Bank and Bank of Shanghai each fell more than 3%, while Shanghai Rural Commercial Bank dropped over 2%.