The president said he would soon announce a replacement for departing Fed Gov. Adriana Kugler, adding that it's a "possibility" that his selection for that seat on the Federal Reserve Board will be tapped as the next Fed Chair.

Bond investors enter a frenetic week comprising the latest Treasury view on quarterly debt sales, a Federal Reserve meeting, and plenty of data crowned by the July jobs report.  

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

"There's nothing that tells me that he should step down right now," Bessent said of the US central bank chief, speaking Tuesday on Fox Business.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.

His transformation comes at a time when President Donald Trump's demands that the Fed cut rates are reaching a fever pitch, and Trump has made clear he won't pick a candidate who isn't ready to deliver.

The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.

The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.

US Treasuries fell for a fifth day as demand for long-term government debt across the globe wanes amid a flurry of bond auctions this week.

The markets are waiting for the Federal Open Market Committee to make its next move.

Fresh US jobs figures took pressure off the Federal Reserve to consider an interest-rate cut later this month, likely leaving the central bank on hold at least until the fall.

The Treasury's need to finance growing debt is the unspoken factor in the discussion of monetary policy and housing costs, the Chairman of Whalen Global Advisors argues.

Treasuries fell Friday but remained on course for a third straight weekly gain, with benchmark yields near the lowest levels since early May.

The Federal Reserve's preferred measure of inflation moved further from its 2% target, underscoring the central bank's reluctance to cut rates.

Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.

"I would be quite surprised if he did not make a choice that fair-minded observers on both sides recognized as a reasonable person," Summers said on Bloomberg Television.

Federal Reserve Chair Jerome Powell said the changes could touch the central bank's quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the board of governors.

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.

The Federal Reserve Board governor said higher import tariffs could have a "persistent" impact on inflation.