Should we worry about falling US bank reserves?

Divisions Grow Inside Fed Ahead Of Decision On September Rate Cut – WSJ Cleveland Fed President Beth Hammack: "I see an inflation picture that is too high and rising and moving in the wrong direction." The outlook is "radically different" from when the Fed cut last year. On current data, "I would not be supportive ... of reducing interest rates." Boston Fed President Susan Collins opens the door to a September cut: The Fed's rate stance was appropriate in July but the subsequent payroll figures were softer than expected. If data by the time of next month's meeting suggests more "risks of worsening labor market… BOSTON FED PRESIDENT SUSAN COLLINS SIGNALED OPENNESS TO A RATE CUT AS SOON AS NEXT MONTH- WSJ COLLINS FLAGGED HOW HIGHER TARIFFS MIGHT SQUEEZE CONSUMERS’ PURCHASING POWER, WHICH COULD WEAKEN SPENDING. - WSJ FED'S COLLINS SAID SHE EXPECTED INFLATION TO CONTINUE RISING THROUGH…