🇺🇸 NEW: President Trump says he likes the job the Treasury Secretary Bessent is doing when asked if he’s an option to replace Fed Chair Powell. https://t.co/SVJrLmrPEf ...

BREAKING:🇺🇸 TRUMP SERIOUSLY CONSIDERS REPLACING FED CHAIR JEROME POWELL WITH TREASURY SECRETARY SCOTT zBESSENT. https://t.co/RODazDZnZ5 ...

Bessent Says ‘Formal Process’ Underway To Find Fed Chair Powell’s Successor, Report Says https://t.co/EsGGmSXc5F ...

🇺🇸 JUST IN: US Treasury Secretary says Trump won’t fire Fed Chair Powell but confirms the process to pick his successor is already underway. https://t.co/8IhaMpuOpx ...

JPMorgan CEO Jamie Dimon sounded Wall Street’s clearest warning against the Trump administration’s attacks on Federal Reserve Chairman Jerome Powell https://t.co/PGUhYkHico ...

Inflation Trends & CPI Analysis - The Consumer Price Index (CPI) increased by 03% month-over-month, aligning with estimates, while core CPI (excluding food and energy) rose by 02%, slightly below expectations [1] - Year-over-year, consumer inflation increased by 27%, and core inflation rose by 29% [1][2] - Inflation is heating up slightly compared to the previous month, where both headline and core inflation increased by only 01% [2] - Core CPI has been consistently lower than estimated for the fifth consecutive month [3] Tariff Impact & Business Strategies - Initial data suggests that tariff increases are contributing less than a third to the monthly CPI increase, with some pressure emerging in categories first exposed to tariffs [7] - Businesses are employing various strategies, including inventory management, alternative sourcing, cost spreading, and margin adjustments, to buffer the impact of tariffs and avoid passing costs directly to consumers [9] - Apparel prices rose by 04%, footwear increased by 07%, and furniture/furnishings prices also saw a rise [8][31] - The effective tariff rate in June was only 10%, while the average tariff rate was around 15%, indicating that the full impact of tariffs has yet to materialize [14] Federal Reserve & Monetary Policy - The Federal Reserve faces a challenging decision regarding interest rate cuts, amidst pressure from the White House and the need to maintain its 2% inflation target [4][17] - The current federal funds rate is considered moderately restrictive, putting downward pressure on demand [18] - There is a risk that prolonged elevated inflation could become ingrained in people's expectations, potentially settling around 3% [20] - The Fed is closely monitoring core services inflation, which has been stubbornly slow to decline, to ensure momentum towards the 2% target [21][25] - The FOMC is divided on future rate cuts, with varying opinions on the number of cuts in 2025 [29] Specific Price Changes - Beef prices saw a significant increase of 2%, while egg prices decreased by 74% [32][33] - New vehicle prices dropped by 03%, and used cars/trucks decreased by 07% [34] - Shelter costs moderated, increasing by 02% compared to May's 03% rise [35] - The energy index rose by 09% in June, with the gas index increasing by 1% [36]

🇺🇸 TRUMP: Urges Fed to cut rates by 3 points, claiming it would save $1 trillion a year. https://t.co/1YWjbLU7u3 ...

We are back with some breaking economic data. That's right. Inflation did rise by 0.3% month overmonth in June and 2.7% year-over-year.That's higher than last month's figure of 2.4%. Here to take us through all this is Investopedia editor-inchief, our friend Caleb Silver. Caleb, good morning.So, walk us through what we're seeing here and and really the big question here is are we starting to see the impact of these tariffs or the back and forth at least of tariffs. Not really. And I was looking at the categ ...

Federal Reserve Policy - Market expectations for rate cuts are becoming increasingly difficult to justify based on CPI data [1] Inflation & Market Expectations - The market is expecting rate cuts [1]

US Treasury Secretary Scott Bessent says Federal Reserve Chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026 https://t.co/JryS5MubIC https://t.co/ClJJB1Ulpa ...