Cleveland Fed President Beth Hammack said she would not be willing to cut rates in September, based on the data available today. "We have inflation that's trending too high and has been trending upwards over the past year,

U.S. stocks fell on Thursday and the dollar and Treasury yields rose, as solid factory data cast a bit more doubt on the Fed's readiness to lower interest rates next month. All eyes are now firmly on Fed Chair Jerome Powell's Jackson Hole speech on Friday.

Not even 48 hours after the conclusion of last month's meeting, data from the Labor Department appeared to validate the concerns of Bowman and Waller when it showed fewer jobs than expected were created in July.

President Donald Trump this week called on a Federal Reserve governor to resign over an accusation of mortgage fraud, the latest effort by his administration to exert greater