Economic Activity - US economic activity remained largely unchanged in recent weeks [1] Consumer Spending - Overall consumer spending experienced a further decline [1] - Spending among higher-end shoppers remained an exception to the overall decline [1]

Economic Impact - Government shutdown will temporarily negatively affect economic activity [1]

Interest Rate Outlook - The Fed's Barkin anticipates a modest adjustment in interest rates [1] - This forecast is based on the expectation of little variation in economic activity for the rest of the year [1]

Monetary Policy - Reserve Bank of New Zealand views the recent economic lull as temporary, thus not needing overly stimulatory policy [1] - Chief Economist Paul Conway expressed the view on monetary policy [1]

Monetary Policy - Federal Reserve Bank of Kansas City President Jeff Schmid favors keeping interest rates on hold [1] - The goal is to prevent robust economic activity from adding to inflation pressures [1]

Economic Overview - The unemployment rate is in the low fours, indicating near full employment [1] - Inflation remains elevated but is trending downward [1] - Small to medium-sized businesses are experiencing economic strain due to floating rate lines of credit [1] - Commercial clients are hesitant due to global uncertainties [1] Consumer Spending - Consumers are continuing to spend [2] - Bank of America consumers' spending is up by 4% to 5% this quarter compared to the second quarter of last year [3] - Consumers have money in their accounts, and credit quality is generally good [3] Future Outlook - Tax bill and trade policy are important factors for future growth [2] - Immigration policy is also a key consideration [2] - Clarity in these areas will likely stimulate further economic growth [2]

Economic Activity - US economic activity "increased slightly" between late May and early July [1] Federal Reserve - The Federal Reserve released its Beige Book survey of regional business contacts [1]

Interest Rate Impact - No compelling evidence suggests current interest rates significantly restrain economic activity [1] Economic Outlook - Former New York Fed President Bill Dudley shared his opinion on the matter [1]

Market Outlook - Goldman Sachs' senior U.S portfolio strategist discusses markets [1] - Recession concerns are reducing [1] - Slowdown expectations are being addressed [1]