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>> NEWSMAKERS AND MARKET MOVERS. THIS IS THE PULSE WITH FRANCINE LACQUA. FRANCINE: GOOD MORNING.WELCOME TO THE PULSE. UP ANOTHER DAY, AND ANOTHER TARIFF SURPRISE. THE U.S. HAS PUT TARIFFS ON ONE KILOGRAM GOLD BARS.THE MOVE THREATENS MORTAL ROLE IN THE GLOBAL BULLY ON MARKET AND BLOW TO THE PRECIOUS MARKET SPIRIT. DOMESTICALLY, DONALD TRUMP PLANS TO NOMINATE THE ALLIES TO A SEAT OF THE FEDERAL RESERVE BOARD ON A TEMPORARY BASIS. THIS TIME, THE CHIEF EXECUTIVE OF INTEL WHO HAS COME UNDER FIRE.WE WILL FIND OUT ...

We haven't really talked about the Bank of England decision yet. Yesterday, an astounding two rounds of voting. This also coincides with a bank cycle, a vote that was also a split vote.Seems like monetary policy is not clear on what to do here. Now, I think uncertainty is one of the key words that we're hearing all around at the moment. Bank of England yesterday, they really couldn't decide.It was a very, very finely tuned decision, as Andrew Bailey has it afterwards with, you know, you had quite of the Mon ...

Hungary’s inflation rate dropped less than expected due to rising food and energy costs, bolstering arguments for the central bank’s monetary-policy caution https://t.co/a8aKUYwZii ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **US Inflation Monitor** and the **Consumer Price Index (CPI)** trends in North America, particularly regarding the impact of tariffs on inflation rates [1][6][24]. Core Insights and Arguments 1. **Core CPI Trends**: - Core CPI is expected to rise by **0.32% month-over-month (m/m)** and **3.04% year-over-year (y/y)** in July, up from **0.23% in June**. This increase is primarily driven by core goods inflation, particularly in categories exposed to tariffs [1][6][19]. 2. **Core Goods Inflation**: - There is an anticipated acceleration in core goods inflation, with categories such as apparel, appliances, furniture, and select electronics expected to continue rising. New car prices are also projected to see a modest increase [7][14][32]. 3. **Housing Market Dynamics**: - Housing inflation is expected to remain stable, with a slight decline in Owners' Equivalent Rent (OER) offset by rising rents for primary residences. The overall rents inflation trend is estimated at **0.29% m/m**, with a gradual deceleration expected through 2025 [8][16]. 4. **Core Services Performance**: - Core services, excluding housing, are projected to remain flat, with mixed signals across components. Medical services are expected to decline, while airfares, hotel rates, and car insurance are likely to show stronger inflation prints [9][19]. 5. **Energy Inflation**: - Energy inflation is expected to revert to negative territory, which will bring the headline CPI below the core CPI. The timing of tariff pass-through remains a critical question, complicating the prediction of inflation data [10][19]. 6. **Airfares and Hotel Rates**: - Airfares are likely to see a modest increase, supported by rising oil prices, while hotel inflation is expected to rebound from a weak June print. However, average daily rates suggest hotel inflation may remain negative [17][41]. 7. **Tariff Impact**: - There are clearer signs of tariff-related price pressures, particularly in goods categories heavily exposed to tariffs. This trend is expected to continue, with leading indicators suggesting ongoing inflation in goods without sharp acceleration [24][25]. 8. **New Car Prices**: - Data from JD Power indicates a mild acceleration in new car prices, with average transaction prices increasing from **1.4% y/y to 3.1% y/y**. This aligns with recent price increase announcements from major manufacturers [32][33]. Additional Important Insights - **Economic Models and Predictions**: - Economic models typically estimate the magnitude of price shifts due to tariffs but struggle with timing and pace, making it challenging to pinpoint when these effects will manifest in inflation data [10][12]. - **Potential Risks**: - There are upside risks to the July core CPI print, with a reading rounding to **0.4%** being more likely than one rounding to **0.2%**. This reflects the potential for sudden tariff-related price increases during the summer months [12][19]. - **CPI Forecasts**: - The forecast for headline CPI is **0.25% m/m**, with softer energy inflation contributing to this figure. The CPI NSA Index is projected at **323.218** for July [19][20]. This summary encapsulates the key points discussed in the conference call, highlighting the trends and expectations surrounding inflation in the US economy, particularly in relation to tariffs and various market sectors.

Romania is poised to keep borrowing costs unchanged ahead of an expected surge in inflation from a wave of tax hikes designed to help curb the budget deficit. https://t.co/myuv5v149n ...

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 ...

Core Insights - Lassonde Industries Inc. reported strong financial results for Q2 2025, with sales reaching $742.4 million, a 17.8% increase from $624.7 million in Q2 2024 [2][5] - The company experienced a gross profit of $195.7 million, representing 26.4% of sales, which is an increase from $175.7 million in the same quarter last year [2][5] - Operating profit rose to $54.4 million, up from $50.0 million in Q2 2024, while profit attributable to shareholders increased to $34.3 million, resulting in an EPS of $5.03 [2][5][8] Financial Performance - Sales increased by $117.8 million, with a 10.1% rise in sales volumes in Canada, driven by favorable selling price adjustments and a better sales mix [5][9] - Adjusted EBITDA for the quarter was $84.4 million, a 13.1% increase from $74.6 million in Q2 2024 [2][8] - The company reported an adjusted EPS of $5.47, down 4.5% from $5.73 in the previous year [2][8] Market Dynamics - The growth in sales was attributed to sustained market share gains in Canada and continued growth of U.S. brands, despite challenges in the U.S. private label market [3][9] - Lassonde anticipates a sales growth rate slightly above 10% for 2025, driven by the full-year impact of Summer Garden results and increased volumes from the "Buy Canadian" sentiment [9][10] Operational Insights - As of June 28, 2025, total assets increased to $2,324.9 million, a 2.1% rise from $2,277.8 million at the end of 2024, primarily due to higher accounts receivable and inventories [8][9] - Long-term debt stood at $651.1 million, with a net debt to adjusted EBITDA ratio of 2.03:1, reflecting a $173.6 million increase from December 31, 2024 [8][9] Strategic Initiatives - The company is focused on capital investment initiatives, particularly in New Jersey, to enhance its reach in the North American food and beverage market [3][9] - Lassonde plans to continue its multi-year strategy, with capital expenditures estimated to reach up to 7.0% of sales in 2025 [16][17] Dividend Information - A quarterly dividend of $1.10 per share was declared, payable on September 15, 2025, to shareholders on record as of August 19, 2025 [20]

Tariff Impact on Consumers - Consumers are projected to experience an annual price increase of approximately $2,400 due to tariff rates rising from around 25% to as high as 41% for specific countries and imports [2][3] - The American middle class and moderate-income consumers are strained and lack the capacity to absorb an additional $1,000 to $2,000 in costs [10][11] - Companies are resorting to shrinkflation (reducing product quantity while maintaining price) and sneakflation (gradually increasing prices) to offset tariff costs [11][12] Uncertainty and Economic Distortion - The varying tariff rates and potential for further tariffs, including a possible 100% tariff on chips, create significant uncertainty [5] - Stockpiling of goods by companies to avoid tariff increases has distorted GDP data and is expected to continue doing so for the coming months [6] - The economy's reliance on the spending of the wealthiest Americans will determine whether a recession occurs [19][20] Investment and Capital Flows - The Trump administration is using capital flows as a bargaining chip in trade negotiations, demanding increased investment from the EU and Japan [13][14] - There is uncertainty regarding the terms of investment deals, with the EU and Japan clarifying that their commitments are loans, not permanent financial bailouts [14] - Companies are hesitant to make significant investments due to uncertainty, except for sectors like data centers for big tech [31] Economic Disparity - The bottom 80% of Americans have depleted their savings from the pandemic and stimulus payments [17] - A "reverse Robin Hood effect" is occurring, with tax cuts disproportionately benefiting the wealthy while cuts to programs like Medicaid and food stamps, coupled with higher prices, impact those at the bottom [22] Consumer Sentiment and Spending - Polls indicate that a majority of people disapprove of Trump's handling of the economy and inflation [27] - Uncertainty is causing consumers to consider saving more and reducing spending [28]

Trade Policy & Economic Impact - US import taxes reached their highest level since the Great Depression, signaling a new phase in reshaping the global economy [1] - Markets have shown resilience to the remaking of the global trade order, but concerns remain about potential implications [2] - Tariffs may impact consumer grocery bills more noticeably in the near term than retirement funds [3] - Automakers are experiencing billion-dollar hits due to tariffs, potentially leading to increased consumer prices [4] - The Treasury Secretary defends tariff policies, touting the return of trillions of dollars in investments in domestic manufacturing [5] Manufacturing & Investment - The administration aims to rebalance trade in America's favor, bring back high-precision manufacturing jobs, and reduce trade deficits [6] - Investments in American manufacturing are contingent on expectations of future profitability, which is influenced by the stability and predictability of tariff policies [9] - A chaotic and unpredictable tariff regime discourages long-term manufacturing investments in America [10][11] - The current tariff structure may lead to higher inflation and increased prices for consumers without corresponding job creation [11][12] Trade Deals & International Relations - There are questions surrounding the details and enforceability of trade deals with countries like Japan and the EU [18][19][20][21][22] - The Japan deal, touted as bringing hundreds of billions of dollars with 90% of profits to the US, is not understood in those terms by Japanese officials, and lacks written documentation [19][20] - The president has discussed countries "buying down" tariff rates with investments, but details on these investments are scarce [22] - The US is still working on trade deals with China and Mexico, which are considered significant partners [23]