Inflation Trends - Consumer Price Index (CPI) rose 27% year-over-year in July, aligning with economists' expectations [1] - Core prices, excluding volatile food and energy, increased to 31%, slightly exceeding overall inflation [1] - Inflation had been gradually decreasing over the past couple of years but has recently plateaued [1][2] Tariff Impact - Tariffs are starting to impact consumer prices, but not drastically [1] - Prices of imported goods subject to tariffs, which were previously declining, are now increasing [2] - Businesses are actively trying to shift the cost of tariffs onto others [4] - The extent to which consumers will bear the burden of tariffs remains a key question for inflation [4] Federal Reserve (The Fed) - The inflation report was not ideal but not disastrous for the Fed [2] - The Fed is considering a potential interest rate cut in September [2] - This consideration is not solely based on inflation but also on concerns about a slowdown in the labor market [3]

Government Intervention & Policy - President Trump planned to deploy the National Guard in Washington DC and wanted to take control of the city's police [1] - The president is invoking part of the Home Rule Act, which allows him to federalize the police in special circumstances [4] - A White House official stated this action is expected to last for around 30 days [4] - Attorney General Pam Bondi was tapped to oversee the city's police department, and the DEA administrator was called on to serve as interim federal commissioner of the DC police force [4] Crime & Safety - President Trump has complained about crime rates in Washington DC, stating people don't feel safe [2] - Data has shown a decline in crimes like homicides and carjackings in Washington DC, although the city continues to struggle with the crime rate at times [3] National Guard Deployment - President Trump has previously called upon National Guard troops, including in California to respond to protests over deportations in Los Angeles and in 2020 to Washington DC during protests over the George Floyd killing [5] - The duration of the National Guard deployment and Congress's response remain unclear [6]

Geopolitical Events - Israel confirmed targeting Al Jazeera's Anas Al-Sharif, accusing him of heading a Hamas cell [1] - Al Jazeera denied the allegation made by Israel [1] Media Landscape - The Wall Street Journal (WSJ) is reporting on the situation involving Israel and Al Jazeera [1]

Safety Concerns - Steel manufacturing is a dangerous job, highlighted by a large fire incident a couple of years ago [1] - The fire serves as a reminder of the inherent risks associated with steel production and coke manufacturing [1] Operational Resilience - The company demonstrated resilience by rebuilding quickly after a previous incident 5 years ago [1]

Public Safety & Security Concerns - Declares a state of emergency in Washington DC due to escalating crime, bloodshed, and squalor [1] - Invokes Section 740 of the District of Columbia Home Rule Act, placing the DC Metropolitan Police Department under direct federal control [1] - Deploys the National Guard to restore law, order, and public safety in Washington DC [2] - Claims the murder rate in Washington DC is higher than that of Bogota, Colombia, and Mexico City [2] - Alleges a doubling of car thefts and a tripling of carjackings in the past five years [3] - States that murders in 2023 reached the highest rate in at least 25 years [3] - Describes Washington DC as being overtaken by violent gangs, criminals, and homeless people [4]

Geopolitical Risks - Dangerous maritime maneuvers could lead to maritime incidents [1] - The conflict over Taiwan could involve the Philippines [1] Strategic Planning - Hope is not a plan; preparedness is crucial [1] - Planning is necessary to address potential conflicts [1]

Objectives & Principles - The primary objective is to liberate Gaza from Hamas terrorists, not to occupy it [1] - The war can end immediately if Hamas disarms and releases all hostages [1] - Five principles for concluding the war include Hamas disarmament, hostage release, Gaza demilitarization, Israel's overriding security control, and a non-Israeli peaceful civilian administration [1] Military Operations - The IDF has been instructed to dismantle the remaining Hamas strongholds in Gaza City and the central camps [2] - This dismantling is considered the best and speediest way to end the war [2] Humanitarian Efforts - The civilian population will be enabled to safely leave combat areas to designated safe zones [3] - In these safe zones, ample food, water, and medical care will be provided [3] - Financial resources are being allocated to ensure the people are fed, aiming to prevent hunger and starvation [3]

Geopolitical Stance - Ukraine's constitution already addresses the territorial question, and there will be no deviation from it [1] - Ukrainians will not give their land to the occupier [1] International Relations - President Zelinski is receiving everything he needs, contingent on certain actions [1] - A meeting between President Putin and another party is scheduled to occur shortly [1]

Environmental Impact - Thousands of residents are under mandatory evacuation orders due to high temperatures and gusty winds potentially fueling fires [1] Disaster Response - Officials warn that high temperatures and gusty winds could further fuel the fires [1]

to get us started. You know, 15sec elevator pitch. What does the Council of Economic Advisors do first of all.So, where do you see inflation, whichever measure you want to use, the CPI, the PC. Where where do you forecast inflation on a year-over-year basis at the end of this year. So, I don't have an I don't have a forecast for the end of the year in part because we're still waiting for policy details to be fully fleshed out.Right now, part of that is the fact that trade negotiations are ongoing, right. We ...