On September 10, the US Bureau of Labor Statistics released the US August PPI data.

The data showed that, after seasonal adjustment, the US Producer Price Index (PPI) for final demand in August decreased by 0.1% month-on-month, compared with an expectation of 0.3%, and the previous value was revised down to 0.9%. Year-on-year, it rose by 2.6%, compared with an expectation of 3.3%, and the previous value was 3.3%.

The US Bureau of Labor Statistics reported that the decline in August PPI was due to a drop in the final demand services index. In August, goods prices excluding food and energy rose by 0.3%, marking the fourth consecutive month of growth. Meanwhile, service costs fell by 0.2%, the first negative turn since April this year, providing a buffer to overall inflation.

The drop in US PPI eased inflation concerns and strengthened expectations that the Federal Reserve would restart rate cuts next week. After the US PPI data was released, US stocks opened higher, with the Nasdaq up 0.47% early in the session, the S&P 500 up 0.41%, and the Dow down 0.19%. US Treasury yields fell across the board, with the 2-year yield down more than 3 basis points; the 10-year yield fell nearly 4.6 basis points, hitting a five-month low. The US dollar index weakened, falling 0.06% on the day, approaching a more than two-month low. Gold surged then pulled back, hovering around $3,640.

According to CCTV News, on September 10 local time, US President Trump once again criticized Federal Reserve Chairman Powell on his social platform "Truth Social" and urged an immediate significant rate cut. Trump wrote that the US has "no inflation" and the Fed "must cut rates big and fast," calling Powell a "complete disaster" and saying Powell "has no clue."