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Pressure on Asian merchants that sell to the U.S. caused the Dutch payment company to reduce its outlook. Payment experts say it's a matter of time before other firms face the same challenges.

Federal Reserve Bank of Chicago President Austan Goolsbee said the Fed is not tied to Wall Street or political interests and that independence is necessary to prevent inflation.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.

Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.

President Trump's imposition of sweeping tariffs on more than 90 countries Thursday represents a major shift in the U.S. trade stance, but the impact on inflation, the Federal Reserve and the economy are still unclear.

Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.

The Federal Reserve's monetary policy committee is expected to leave interest rates unchanged again Wednesday amid reports of renewed economic growth in the second quarter and despite ramped up pressure from the White House to cut rates.

The company is relying on a boost from initiatives in crypto-related finance, AI-powered payment tech and connections to international digital wallets, though analysts cautioned geopolitics are hindering momentum.

After edging past Wall Street's estimates, the Cleveland-based bank expressed higher hopes for its loan book as well as the macro environment.