— The U.S. economy added only 73,000 jobs in July while May and June results were revised down by 258,000; roughly 25% of the unemployed have been jobless more than 27 weeks.
— A key gauge of U.S. inflation (the PCE Index) rose by 0.3% in June to an annualized rate of 2.6%, the highest level in four months, and up from 2.4% in May.
— The Fed Board overwhelming voted (9 to 2) to keep its key interest rate steady; probability of Fed cutting rates in Sept. rose to 80% from 38% after weak jobs data.
— The U.S. and Eurozone signed a tentative trade deal (15% U.S. tariffs) as negotiations China, Mexico, Canada and others continue; U.S. will levy 40% tariff on transshipped goods.
— The U.S. Environmental Protection Agency plans to remove the government’s ability to regulate greenhouse gas emissions from carbon-intensive sectors including oil & gas and autos.
Disclaimer: Clicking on any of the above links will take you away from the LNW web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.
