U.S. wholesale inventories fell for a sixth straight month in August, but the pace of decline slowed amid a surge in sales.

Federal Reserve Governor Christopher Waller, speaking at George Mason University's Mercatus Center on Tuesday, reaffirmed the central bank's commitment to achieving its 2% inflation target through forceful monetary tightening measures implemented since early last year. Waller did not offer a near-term forecast for interest rates but emphasized the Fed's dual mandate of maximum employment and price stability.

India's economic growth forecast for 2023 and 2024 has been revised upwards by the International Monetary Fund (IMF) from 6.1% to 6.3%, according to the 'World Economic Outlook' report published on Tuesday. This adjustment, which represents an increase of 0.2 percentage points, was attributed to stronger-than-expected consumption between April and June. The IMF's projection suggests that India's performance may surpass that of China, the world's second-largest economy.

Americans continue to anticipate high inflation rates, according to a recent survey by the Federal Reserve Bank of New York. The median expectation for the next year is a 3.7% increase, slightly up from the previous month's forecast of 3.6%. Inflation is expected to hover around 3% three years from now and slightly decrease to 2.8% after five years, surpassing the Federal Reserve's target of 2%.

Business morale at large Japanese manufacturers was subdued in October, although the services-sector mood edged up, the Reuters Tankan poll showed, as upbeat domestic demand helped partly offset the hit to the economy from global headwinds.

Minneapolis Fed President Neel Kashkari voiced his uncertainty about the impact of escalating long-term Treasury yields on future rate hikes at a town hall event at Minot State University on Tuesday. Kashkari is seeking more concrete data on inflation, labor-market conditions, and wages before determining if the Federal Reserve's measures have been adequate.