1137 GMT - Looking toward the September Federal Reserve meeting, U.S. inflation remains the dominant policy concern, Federated Hermes' Karen Manna says in a note. "Fed officials have been remarkably consistent in that message," the fixed income strategist and portfolio manager says. Policymakers have also repeatedly indicated that today's U.S. labor market is no longer viewed as a primary source of inflation pressure, she says. "Rather, employment conditions are increasingly seen as being closer to equilibrium." The result is a policy framework that has shifted away from labor market concerns and back toward inflation as the principal variable, Manna says.