Federal Reserve officials believe inflation from new tariffs is just around the corner, and that American consumers are going to pay the costs, minutes of the Fed’s July meeting show.

This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will tune into Federal Reserve Chair Jerome Powell's speech for any hints on whether the central bank might kick off interest-rate cuts in September.

The dollar got off on the front foot on Wednesday following two days of gains as traders awaited the Federal Reserve's Jackson Hole annual symposium later this week for clues on the path for monetary policy.

U.S. stock index futures declined on Wednesday, following a tech selloff on Wall Street, as investors geared up for more retail earnings and a crucial Federal Reserve symposium later this week.

Wall Street's main indexes were set for a subdued open on Wednesday as investors assessed uneven earnings from retailers such as Target and Lowe's for clues on consumer spending ahead of a Federal Reserve symposium later this week.

U.S. stocks closed mostly lower, though off earlier lows, despite Federal Reserve minutes showing a united front on inflation and a tech stock rout.