About this episode
President Trump gives Fed Governor Lisa Cook three weeks to answer mortgage fraud allegations, with the deadline falling just before the September FOMC meeting - raising fresh questions about Fed independence under Chair Kevin Warsh. Meanwhile, the U.S. economy shed 23,000 jobs in July in a surprise miss, though a falling unemployment rate and solid construction gains tempered the reaction. All eyes now turn to Wednesday's CPI print, with oil near $83 a barrel and retail fuel prices still roughly 30% above pre-war levels.
Today's recommended read: China is balancing Asia's crude oil demand by itself, Clyde Russell
Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest.
Produced by Eliza Davis Beard and Abisoye Osundairo.
Sound engineering and music by Sebastian and Josh Sommer.
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