In his first testimony before Congress, Fed Chair Kevin Warsh emphasized the Federal Reserve’s firm commitment to tackling inflation, signaling a continued focus on monetary tightening.
President Trump expects inflation to remain steady following renewed military actions against Iran, highlighting recent data showing a notable drop in consumer price growth.
The Consumer Price Index fell unexpectedly last month, with every economist in a major survey failing to predict the decline, signaling a shift in inflation trends.
In his first congressional hearing, Federal Reserve Chair Kevin Warsh pledged to uphold the Fed’s independence despite President Trump’s attempts to influence monetary policy and leadership.
U.S. inflation slowed to 3.5 percent in June as gasoline prices fell nearly 10 percent, providing temporary relief amid lingering uncertainties in energy markets.
Recent Labor Department figures reveal inflation eased more than anticipated in June, helped by falling gasoline costs linked to U.S. diplomatic moves with Iran.
Fuel prices pulled the Consumer Price Index down notably in June, marking the steepest monthly drop in over two years as energy costs eased despite persistent inflation in shelter and food.
Bitcoin rallied above $63,000 following U.S. inflation figures that undershot forecasts, easing concerns over a July Federal Reserve rate hike and boosting crypto sentiment.
Inflation slowed notably in June due to falling energy and gasoline prices, but core inflation remains above target, leaving Federal Reserve rate decisions uncertain.
India’s wholesale price inflation edged up to 9.87% in June, driven by energy costs and diverse inflation levels across commodities, according to government data.
The U.S. Department of Labor has dispatched a federal strike team to New York to combat widespread unemployment benefit fraud that reportedly drains nearly $2 million daily from taxpayer funds.
Federal Reserve’s Waller cautions that now is not the right moment for forward guidance, highlighting evolving job markets and potential AI-driven shifts in financial conditions.