Last week ended with the Fed debate looking very different. July PCE inflation held at 3.7% YoY, slightly above expectations, while Fed Chair Kevin Warsh used Jackson Hole to signal that further tightening may be needed if inflation does not move convincingly back toward 2%. Markets responded by sharply increasing expectations for a September rate hike. This week, attention turns to whether the incoming U.S. data supports that shift. Tuesday: ISM Manufacturing + JOLTS job openings Thursday: ISM Services Friday: August nonfarm payrolls + unemployment Friday’s jobs report is the main event. Economists expect only modest job growth after payrolls fell in July, putting the strength of the labor market back at the center of the Fed debate ahead of its September meeting.(Coinbase Assets 🛡️)