WSJ: Chevron and other U.S. companies seek to invest billions of dollars in Venezuelan oil fields.

Fed Chair Waller said Friday that if policymakers fail to be confident inflation is falling back to the 2% target “in a clear and sufficiently rapid manner,” the Federal Reserve “has more work to do.” This signals the Fed may raise interest rates next if price pressures do not improve. Waller made clear he remains committed to the Fed’s longstanding policy path of managing inflation through interest rate adjustments. This has significantly boosted the likelihood of an upcoming Fed rate hike, which could put him at odds with former President Donald Trump, who has long pushed for interest rate cuts. The remarks have largely eliminated the lingering ambiguity. At the end-of-July press conference, Waller declined to elaborate on whether a rate hike is needed to address inflation that has risen sharply this year and stayed above the Fed’s target for more than five consecutive years. (Jin10)

According to market data from BIT (bit.com), Federal Reserve Chair Waller’s Friday speech signaled interest rate hikes, triggering a broad sell-off in U.S. crypto-related stocks. The individual stock declines are as follows: CRCL fell 3.33%, MSTR dropped 4.32%, MARA declined 6.23%, COIN slipped 4.27%, RIOT fell 5.8%, BMNR dropped 2.65%, and SBET declined 4.28%.

According to Bitget's market data, spot gold once dipped below $4,550 per ounce, marking its lowest level since August 21.

Market pricing indicates that the probability of the Federal Reserve raising interest rates in September is currently around 50%.

In the 12 months ending in March, U.S. job growth was more moderate than previously reported, highlighting a cooling labor market trend that has led the Federal Reserve to plan 2025 interest rate cuts despite persistent inflation. According to preliminary benchmark revision data released by the U.S. Bureau of Labor Statistics on Friday, nonfarm payrolls could be revised down by 79,000, a 0.1% decrease. Final figures will be released early next year.

Fed Chair Waller warned that inflation has not seen meaningful moderation, adding that policymakers must be confident price growth is moving in the right direction, otherwise the central bank "has more work to do." Waller reiterated that the Federal Reserve will bring inflation back to its 2% target, calling this a clear, fixed goal. "My criterion is that we must be confident underlying inflation is advancing toward our target at a sufficiently clear and rapid pace. Otherwise, we have more work to do—that is our mandate," Waller said. He also noted that current financial conditions are not restrictive, and interest rates are the Federal Reserve's "primary tool" for fulfilling its duties.