— The U.S. implemented additional tariffs on dozens of trading partners, including Switzerland and India; gold prices surged on tariffs potentially applied to imports of Swiss gold bars.
— President Trump will nominate Stephen Miran as Federal Reserve Governor through January 2026 (to replace Adriana Kugler); Miran has been critic of Fed Chair Jerome Powell.
— Canada’s unemployment rate was 6.9% in July, close to the four-year high of 7% hit two months prior, as large supply of labor and economic uncertainty due to tariffs continue.
— The Bank of England narrowly votes to cut its key interest rate by 25 basis points to 4%, amid an uptick in inflation and slower growth.
— A multistate lawsuit accusing major Wall Street investment firms of using climate change initiatives to manipulate markets will be allowed to proceed.
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