Inflation, tariffs
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While Tuesday's focus was on the tariff-related inflation hit to Treasuries, it's been a rough week for government bonds everywhere - especially in Japan as long-term yields there hit new highs this week ahead of the July 20 upper house election and related fiscal policy worries.
Tariff revenues surged dramatically, yet so far, there’s been minimal impact on CPI or core goods inflation. Click here for more information on the US Economy.
The U.S. dollar declined after wholesale inflation data showed producer prices were unchanged in June and showed only a mild effect from U.S. tariffs. The flat reading in the producer-price index came in below the Wall Street forecast of a 0.2% increase.
The Indian rupee is set to open weaker on Wednesday after June U.S. inflation data hinted at tariff-driven price pressures, prompting markets to scale back bets of Federal Reserve rate cuts and pushing the dollar and U.
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CNET on MSNWith Trump's Tariffs Linked to Inflation, I'm Tracking 11 Key Products for Price MovesThe deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.
National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.