Home prices rose in August 

China–U.S. West Coast spot rates are down 68% from June, signaling an earlier, truncated peak season. Importers are pulling back amid tariff whiplash and softer demand.

The U.S. economy added 22,000 nonfarm jobs in August, the Labor Department said. The unemployment rate was little changed at 4.3%.

The rate for a 30-year fixed-rate mortgage was 6.5% this week. The rate for a 15-year fixed-rate mortgage was 5.6%.

The U.S. trade deficit was $78.3 billion in July, up $19.2 billion from $59.1 billion in June, the Commerce Department said.

The ISM services index rose 1.9% from the prior month to land at 52% in August, the Institute for Supply Management said.

Independence of monetary policy is a critical element for the Federal Reserve’s success, economist Stephen Miran said during his nomination hearing for an open seat on the Fed board.