Fed chair Kevin Warsh said the current FOMC will achieve its price-stability objective.

Rising oil and U.S. Treasury yields will increase near-term equity volatility, but selling equities now is premature. Long-term inflation expectations remain stable, corporate earnings and economic activity are improving, and Q3 results could rebuild market confidence. The backdrop is relatively more supportive for value stocks, especially as growth’s relative earnings advantage appears to be peaking. High oil and yields are a market disturbance but have not yet changed the fundamentals supporting equities. (JP Morgan report, Sep 15)

Politico reports U.S. House Democrats are pressing Congress to remain in session to continue talks on AI.