June, Inflation and federal open market committee
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tariffs, Inflation
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Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.
Inflation is speeding up after a period of cooling down earlier this year.
The next major U.S. inflation report is set to arrive on Tuesday in the form of the consumer-price index for June, and will inform investors as to whether President Donald Trump’s tariff wars with other countries have had a sizable impact on inflation.
With President Trump and Federal Reserve Chair Jerome Powell clashing over interest rates and the impact U.S. tariffs will have on consumer prices, inflation reports have taken on greater significance.
The emerging divide among Federal Reserve officials over the outlook for interest rates is being driven largely by differing expectations for how tariffs might affect inflation, a record of policymakers’ most recent meeting showed.