Week in Review: Tariff Threats Resurface

In other news, a senior Trump administration official claimed on Friday that Fed Chair Jerome Powell is “considering resigning” amid calls for a probe into whether he misled Congress about costly renovations to the Fed’s Washington headquarters. Bill Pulte, chair of Fannie Mae and Freddie Mac, who posted on X that he had “heard reports” of Powell possibly not completing his term - though no evidence was provided.

Market Moves of the Week

Chart of the Week:

Consumer inflation expectations have eased back to pre-tariff levels, according to the New York Fed’s June survey. Median one-year ahead inflation expectations declined to 3%, marking a second consecutive monthly drop. Longer-term expectations held steady at 3.0% (three-year) and 2.6% (five-year). This aligns with recent government data showing softer inflation than anticipated, despite concerns that Trump’s trade policies could rekindle price pressures. Source: Bloomberg Credits: Strategiq