US producer prices flat in August with food costs falling

WASHINGTON (AP) — U.S. producer prices were unchanged last month as the biggest decline in wholesale food costs in more than three years helped to keep a lid on inflation.

Wall Street plunged last week on fears that the Fed was about to boost interest rates but those concerns eased after Fed board member Lael Brainard gave a speech Monday in which she defended the Fed's go-slow approach and called for continued Fed "prudence" in raising rates.