Wall Street Today | Fed Officials Head Toward Another Pause After Bond Yields Surge

In a week jam-packed with speeches from US central bank officials, Fed Bank of Atlanta President Raphael Bostic said policy is restrictive enough to lower prices to the 2% goal. Meantime, Governor Christopher Waller noted the Fed is determined to bring inflation back to its target in a speech that mostly avoided the current state of markets or monetary policy.

Top Fed policymakers are coalescing around the idea that tighter financial conditions after a recent surge in Treasury yields may substitute for additional increases in their benchmark rate. According to Bloomberg Economics, investors will watch for any hints in the September FOMC meeting minutes due Wednesday that suggest the Fed may not hike rates a final time.

Oil edged lower after the biggest jump in six months as markets digested the fallout from Hamas’s surprise attack on Israel over the weekend and the prospect of new economic stimulus measures in China.

At least 1,500 people have died as the conflict in Israel, which has the potential for wider geopolitical ramifications, entered a fourth day. West Texas Intermediate edged below $86 a barrel after jumping more than $3 on Monday.