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Story summary
- Fed Chair Kevin Warsh may raise the benchmark rate at the September 15-16 meeting as inflation stays above the 2% target.
- The ISM manufacturing PMI rose to 55.6 in July, its strongest since May 2022, while the employment gauge reached its highest since August 2022, the first expansion in 33 months.
- Analysts Jeffrey Roach and Troy Ludtka said strong payroll growth in manufacturing and construction supports a hawkish stance.
