Traders are increasingly positioning for a half-point rate cut by the Federal Reserve at its September meeting. The most notable position, at roughly $10 million, could yield $100 million if the Fed delivers a 50 basis-point reduction. "As the market readies for Powell's speech at Jackson Hole, we'll argue that the biggest risk for Treasuries is if the Fed Chief chooses to throw cold water on the widely anticipated September rate cut," Ian Lyngen, head of US rates strategy at BMO Capital Markets, said.

The S&P 500 has historically shown gains around the time of the Federal Reserve's Jackson Hole conference, averaging a 0.9% increase in the five trading days before and after the Fed chair's speech since 2010, according to DataTrek Research. Most of these gains tend to occur after the speech, suggesting that market clarity from the event supports equity valuations.

Investors are raising concerns about a period of "fiscal dominance," in which central banks are pressured to keep interest rates low to manage soaring government debt. The trend is most evident in the US, where President Donald Trump has urged the Federal Reserve to cut rates, but governments in the UK and Japan are also putting pressure on their central banks.

President Donald Trump has disclosed purchases of at least $103.7 million in bonds since his inauguration, including debt from Qualcomm, Home Depot, T-Mobile and Meta. Unlike past presidents, Trump has not placed his assets in a blind trust, raising renewed questions over potential conflicts of interest.

Treasury Secretary Scott Bessent described the US-China trade truce as "working pretty well," highlighting improved dialogue and resumed rare earth magnet shipments from China. He noted that recent talks have been productive and that both sides have refrained from escalating tariffs ahead of the truce's November expiration.

New York City will close beaches Wednesday and Thursday as Hurricane Erin, a Category 2 storm with winds extending 230 miles from its center, approaches. The storm is expected to create dangerous surf and life-threatening rip currents along the East Coast, from Miami Beach to Camden, Maine.

Pinky Swear, a nightclub-themed restaurant on New York City's Lower East Side, features interactive art, unique cocktails and a menu from chef Will Horowitz, known for his work at Ducks Eatery and Harry and Ida's. The menu includes dry-aged brisket burgers, short rib pastrami and creative desserts, blending high-quality food with a vibrant, artistic atmosphere.

You can hamper your effectiveness as a leader if you believe it's your job to fix problems, or conversely, that if it's not your job, it's not your problem, writes consultant Marlene Chism, who recommends focusing on the result you want, which means identifying obstacles and holding your team accountable. "Your team's success reflects your clarity, your coaching and your willingness to confront what's not working," Chism writes.

Federal Reserve Governor Michelle Bowman has emphasized the need for regulators and banks to recognize the importance of technologies such as AI and cryptocurrency to maintain the banking system's relevance. Speaking at the Wyoming Blockchain Symposium, Bowman addressed her intent to limit regulatory scrutiny related to reputational risk and highlighted the potential of technology and suggested that regulators should facilitate their integration into the banking system. "Change is coming," Bowman said.

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