— U.S. inflation ticked up in June by 0.3%, bringing the annualized rate to 2.7%; meanwhile, wholesale inflation remained unchanged, indicating limited impact of tariffs so far.
— U.S. retail sales rebounded strongly in June (+0.6%) after dropping in May and new applications for unemployment dropped, bolstering the Fed’s decision to keep its key interest rate unchanged.
— The first of three U.S. bills to boost the legitimacy of cryptocurrency was signed into law, creating a regulatory framework for the issuance of stablecoins pegged to the dollar.
— U.S. companies operating in China are greatly limiting new investment there in the coming year, on lower profit margins and tariff uncertainty; more than half plan zero new investment.
— A survey of 400 large U.S. companies indicated that the vast majority (87%) continue to invest in ESG and sustainability efforts, although they may not be publicizing that.
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