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Weekly Economic & Financial Commentary
From wellsfargo.bluematrix.com
The economic data calendar was packed this week. Better-than-expected retail sales, industrial production and home construction suggest activity has regained its footing after a loss of momentum during the first five months of the year. At the same time, data on inflation indicate that the costs of tariffs are starting to get passed on to consumers, albeit slowly. With the potential for further tariff hikes coming Aug. 1, we see upside risks to inflation and downside risks to output growth in the months ahead. Higher tariffs have had a modest effect on overall inflation thus far. The Consumer Price Index rose 0.3% in ... (full story)
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