While it was a light week on the economic data front, there was still plenty of news to digest. Following the passage of the One Big Beautiful Bill Act late last week, attention turned back toward trade policy as July 9 marked the end of the Trump administration's 90-day pause on its country-level "reciprocal" tariff rates. As discussed in Topic of the Week, that deadline was extended to Aug. 1, and over 20 countries received letters notifying them of new reciprocal tariff rates. The slew of letters, as well as a renewed focus on product-specific tariffs on copper and pharmaceuticals, will likely exacerbate economic ... (full story)