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(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said he’s looking for “a little more data” before supporting a reduction in interest rates, emphasizing he wants to be sure the US central bank will not have to change course once it begins cutting.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestJohannesburg Mayor Quits Amid Infighting, Financial WoesHow Chicago’s Gigantic Merc

(Bloomberg) -- Darling Ingredients Inc. soared the most in eight years after California signaled it may limit the use of seed oils in green diesel, which would be a boon to companies that use rival feedstocks.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceJohannesburg Mayor Quits Amid Infighting, Financial WoesGottheimer Call

Bostic, speaking at an event in Atlanta, noted that the balance of risks between inflation and the job market are closer to level, but he wants to be sure the Fed avoids cutting rates too soon, only to have to raise rates later if inflation reaccelerates. "I am willing to wait, but it's coming ... It is coming," Bostic said. Financial markets broadly expect the Fed to cut interest rates at its Sept. 17-18 meeting, which would mark its first such move in this policy cycle.

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U.S. producer prices increased less than expected in July as the cost of services fell by the most in nearly 1-1/2 years amid signs of diminishing pricing power for businesses, evidence of waning inflation pressures that reinforced hopes of an interest rate cut next month. The report from the Labor Department on Tuesday also showed favorable readings for most of the components that go into the calculation of the personal consumption expenditures (PCE) price indexes, the inflation measures tracked by the Federal Reserve for monetary policy. A surge in the unemployment rate to a near three-year high of 4.3% in July fanned fears in financial markets of a recession, which have been largely dismissed by economists.

(Bloomberg) -- The price of gold fluctuated between gains and losses after US inflation data came in lower then expected, potentially supporting the case for rate cuts by the Federal Reserve.Most Read from BloombergBiden Invests $100 Million to Fuel Housing ConstructionIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceGottheimer Calls for Rail Riders to Be Reimbursed for DelaysJohannesburg Mayor Quits Amid

Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month. The Labor Department reported Tuesday that its producer price index — which tracks inflation before it reaches consumers — rose 0.1% from June to July. The July wholesale figures reflect a broad and steady slowdown in price increases, which peaked at a four-decade high in mid-2022 but are now moving toward the Fed's 2% inflation target.