On August 28, Federal Reserve Chairman Kevin Warsh stated that the Federal Reserve is focused on price stability and committed to curbing high inflation. Following his remarks, the CME FedWatch Tool showed market expectations for a 25 basis point rate hike this month approaching 60%. However, Federal Reserve officials are divided on the rate hike path: Governor Christopher Waller stated on September 3 that he would favor keeping rates unchanged if August inflation data continued to slow; New York Fed President Williams found recent inflation data encouraging; while Cleveland Fed President Beth Hammack on September 4 called for rate hikes to curb inflation. The U.S. Bureau of Labor Statistics will release the August Producer Price Index (PPI) on September 10 and the August Consumer Price Index (CPI) on September 11.