JUSTTHENEWS (Joseph Weber) - Cost of core consumer goods and services increased slightly in July, Commerce Department
The increase was in line with forecasts.
NYTIMES (Colby Smith) - More Fed Officials Lost Patience About Elevated Inflation at Latest Meeting
Minutes from the Federal Reserve’s July gathering showed broadening support for higher borrowing costs to stamp out lingering price pressures.
NEWSNATIONNOW (CHRISTOPHER RUGABER, Associated Press) - Inflation cooled last month as gas prices fell, though costs remain elevated
WASHINGTON (AP) — U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy. Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, [...]
NYTIMES (Colby Smith) - Fed’s Preferred Inflation Gauge Eased During Pause in Iran War
Price pressures eased during a brief reprieve in the war with Iran, but the resumption of fighting suggests that inflation risks are still prevalent.
NYTIMES (Talmon Joseph Smith) - U.S. GDP Growth Slowed in Second Quarter of 2026
Gross domestic product grew at a slower rate in the second quarter and persistent price pressures are unsettling financial markets.
NYTIMES (Colby Smith) - Warsh to Reiterate Fed’s Pledge to Get Inflation Down
Kevin M. Warsh, since becoming chairman of the Federal Reserve, has declined to say whether he supports higher interest rates to tame price pressures.
HUFFPOST - From Unfilled Gas Tanks To Fewer Frills, Retailers See US Consumers Rethink Their Spending
Well before the Iran war, many consumers already were being more choosy with their discretionary purchases.
AXIOS (Courtenay Brown) - There are early signs of renewed labor market strength during Iran war
The 1970s oil-shock playbook needs an update: The inflation costs remain, but the employment risks appear far smaller than they did 50 years ago. Why it matters: As the Iran war continues, there are early signs of renewed strength in the labor market. - If energy disruptions pose less of a risk to jobs, the challenge for central banks shifts from managing stagflation risks to guarding against renewed price pressures. That's the takeaway from new Federal Reserve Bank of Boston research that finds an oil shock the size of what the Iran war has produced would push inflation materially higher while having essentially no effect on national employment. What they're saying: "The U.S. economy's vulnerability to oil shocks has not been…
JUSTTHENEWS (Christina Park) - Consumer Prices hit the highest level in last three years, amid Iran War tensions
Consumer prices are highest in the last three years, straining American finances
JUSTTHENEWS (Kevin Killough) - Inflation rises at fastest pace since May 2023, Commerce Department data shows
The Personal Consumption Expenditures index rose 3.8% from the same time last year, the fastest annual rate since May 2023.