Target beat Q2 F2026 expectations with adjusted EPS of $2.05 versus a $2.02 consensus, but the market was unsettled by the announced departure of the CEO following the results. #TGT #FiatNews

Walmart reported Q2 sales above expectations but delivered adjusted earnings per share below Wall Street estimates. The company’s CEO warned that tariffs remain a downside risk for retailers. #WMT #FiatNews

Nvidia ordered suppliers to stop production of its H20 AI chip for the Chinese market, sources say, while separately working on a more powerful China‑specific AI chip based on its new Blackwell architecture. #NVDA #FiatNews

President Donald Trump is campaigning for the removal of Federal Reserve Governor Lisa Cook. If successful, the move would give the administration greater influence over the Fed by helping secure a majority on the seven‑member Board of Governors. #FiatNews

Fixed‑income traders are pricing in earlier Fed cuts and are watching Jackson Hole closely for confirmation from Chair Powell. Bond markets see the Jackson Hole comments as a key test of the timing of rate reductions. #FiatNews

Federal Reserve Chair Jerome Powell signaled a possible easing of interest rates during his Jackson Hole remarks, a move that lifted US equities in immediate reaction to his comments. #Fed #FiatNews

Torsten Slok of Apollo says US inflation is rising, citing recent PPI figures, while labor market data show weakening. He warns this combination is pushing rates higher even as economic growth softens. #inflation #PPI #FiatNews

Goldman Sachs expects inflation to remain noticeably above the Fed’s target next year, while former Fed official Frederic Mishkin cautioned markets against anticipating early rate cuts. Goldman’s forecast sees headline inflation at 2.9% by the end of this year and 2.6% by the end of next year, with core inflation (excluding energy and food) at the same levels. Mishkin noted that recent PPI figures pointed to accelerating inflation but said he 'wouldn’t put much weight on the recent producer‑price numbers,' calling the index typically volatile. He added that 'core inflation doesn’t look that good' and that unemployment remains close to a full‑employment level, which lowers the likelihood of near‑term rate cuts. Mishkin also highlighted the Fed’s past forecasting errors, concerns about rising inflation expectations, and what he described as 'the threat to Fed independence' from political pressure to ease policy. He warned cuts will come only when 'there is a clear reason.' Tariff pass‑through may be more persistent because many firms pre‑stocked inventories before tariffs took effect. #GoldmanSachs #Fed #inflation #Mishkin #FiatNews

Torsten Slok of Apollo warns that rising inflation and a weakening labour market are pulling monetary policy in opposite directions: inflationary pressures would push rates up, while a softer jobs market would push them down. Slok said swap markets point to inflation "well above 2%" in 12 months and that, personally, he would now be cutting rates; he noted the Fed’s dot plot also signals a move toward lower rates. He expects growing dissent among Fed officials on future decisions, increasing the importance of Chairman Powell building consensus. Slok added it "is not surprising, when a trade war comes, that trade slows," calling tariffs a material risk to the growth side of the Fed’s dual mandate. Chicago Fed President Austan Goolsbee told CNBC that inflation signals are mixed and cautioned that import prices alone do not fully capture the effect of tariffs — exporters might absorb duties in margins. Both economists warned of a downside scenario in which tariffs contribute to stagflation, boosting inflation while slowing growth. Goolsbee noted the Fed cannot directly fix supply-side shocks but can try to prevent secondary effects such as a wage-price spiral. #Fed #inflation #tariffs #FiatNews

Economist Scott Sumner argues that while recent US fiscal choices are highly imprudent, true fiscal dominance is not inevitable. Fiscal dominance requires monetary policy to generate high inflation while being driven by fiscal goals; Sumner warns that “if the US moved to a regime of fiscal dominance, it would lead to much higher interest rates, not lower.” Sumner notes U.S. public debt will soon exceed $30 trillion and an unexpected 10% rise in the price level would cut the real debt burden by roughly $3 trillion—more than the annual budget deficit—showing how inflation can reduce real debt. He calls the recent “Big Beautiful Bill” “the most reckless fiscal move in American history,” not because of absolute deficit size but because large deficits are being run in peacetime prosperity. Long-term Treasury yields remain near 5%, which Sumner views as inconsistent with extreme fiscal dominance; he suggests yields could be 3–4% under more responsible fiscal policy. On history, Sumner cites David Beckworth’s point that the Fed’s 1942–1951 agreement with the Treasury is often labeled fiscal dominance, but argues the gold standard then constrained the Fed’s freedom. He adds that actions such as banning private gold ownership and encouraging allies to hold dollars rather than gold helped the U.S. reduce its debt burden at that time. #fiscalpolicy #inflation #GoldStandard #FiatNews