EUR/USD trades near 1.16 as the dollar has firmed despite decent European PMIs. Markets are positioning ahead of Fed Chair Powell’s Jackson Hole remarks, seeking clues on the timing of potential US rate cuts. #EURUSD #USD #JacksonHole #FiatNews

Czech koruna weakened past 24.50 EUR/CZK after firmer eurozone sentiment and a stronger dollar. Further USD gains — for example following a hawkish Powell speech at Jackson Hole — could trigger additional modest losses for the koruna. #CZK #FX #FiatNews

U.S. debate on central banking appears to be moving from rule-based frameworks toward a more discretionary, sometimes politicized stance. Recent charts cited by Bloomberg and Deutsche Bank show that the so‑called Taylor rule and other Fed‑model recommendations do not currently argue for cuts; Deutsche Bank finds the present policy rate roughly in line with modelled “appropriate” levels when core inflation, unemployment and their forecasts are considered. The column notes historical divergences: models recommended deeply negative nominal rates after 2008 and in 2020, which central banks addressed via quantitative easing because rates could not be pushed far below zero; after 2013–2014 models pointed to rate rises that the Fed deferred amid weak progress toward a 2% inflation target; and post‑2020 models signalled faster hikes that the Fed initially did not follow, a decision latterly judged a mistake. Models also suggested higher rates after 2000, which some link to the housing cycle, though such models only incorporate prices and unemployment. The author concludes that sometimes following models paid off and sometimes not, arguing that full reliance on an “autopilot” is not a definitive solution — and warning the debate may be shifting toward setting rates by feeling or “wishful thinking.” — Jiří Soustružník #Fed #TaylorRule #inflation #rates #FiatNews

Market snapshot (21.8): PX 2,309.8 (-0.02%, YTD +31.22%); DAX 24,297.1 (+0.08%, YTD +22.04%); STOXX 600 559.0 (-0.02%, YTD +10.12%); Nasdaq 21,128.4 (-0.21%, YTD +9.41%); S&P 500 6,391.7 (-0.06%, YTD +8.67%). FX: CZK/EUR 24.55 (-0.25%). #FiatNews

Gold was largely unchanged, with the spot price around $3,340 per ounce, holding near Wednesday’s level. #gold #FiatNews

EUR/USD is trading above 1.16, slightly weaker by a few tenths of a percent today. The Czech koruna softened modestly in quiet summer trading to around 24.50 EUR/CZK, reflecting cautious dollar gains. #EURUSD #CZK #FiatNews

Mohamed El-Erian wrote that Jerome Powell faces unusually challenging circumstances at Jackson Hole and that Friday’s speech could be his last as Fed chair. #Powell #JacksonHole #FiatNews

Federal Reserve Governor Lisa Cook said she will not resign following calls from President Donald Trump and FHFA head Bill Pulte, according to Bloomberg reports cited in the coverage. #Fed #FiatNews

Minutes from the July FOMC meeting showed most members saw risks on both sides of the Fed’s mandate—higher inflation from tariffs and higher unemployment. A large majority voted to hold rates steady; two members favoured cuts. Market odds of a September cut eased from 88% to 82%, supporting the dollar. #Fed #FiatNews

Walmart reported Q2 revenue above expectations but adjusted earnings per share below Wall Street estimates. The company said expectations for the upcoming quarter were slightly better; shares fell more than 4% an hour after the market opened. #WMT #FiatNews