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Goldman Sachs is taking the heat for its call that heavier tariff-induced consumer inflation is ahead, but it’s far from alone in that view among its Wall Street brethren.
Despite investors’ embrace of Tuesday’s fairly benign consumer price index report, economists expect that the biggest impact to inflation is yet to come.
With pre-tariff inventories rolling off, effective tariff rates climbing higher and companies less willing to absorb higher costs from the duties, the general feeling is that consumers are increasingly going to feel the bite through the rest of the year.
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(LifeSiteNews) — The vast majority of the so-called “telehealth” abortion business assists residents of pro-life states break laws protecting preborn babies from abortion, according to a new paper.
Medpage Today reports that the study, published by the Journal of the American Medical Association (JAMA), examines data from 118,338 chemical abortion pill packs dispensed over a 15-month span (the beginning of July 2023 to the end of September 2024) by the pro-abortion group Aid Access (whose founder Rebecca Gomperts was one of the study’s co-authors).
It found that 84 percent of those packs were sent to states that do not allow abortion pills to be prescribed without seeing a doctor in-person.
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Inflation held at 2.7% for the year ending in July in the consumer price index, the Bureau of Labor Statistics reported Tuesday, suggesting that the price pressures from tariffs were not as strong as originally feared.
Forecasters expected inflation to rise for a third straight month to 2.8%.
Yet the report contained some signs of underlying inflationary pressure. Core inflation, a measure that strips out the volatile categories of food and energy prices, rose two-tenths of a percentage point to 3.1%, higher than expected. For just the month, core prices were up 0.3%, the largest monthly increase of the year so far.
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WASHINGTON, DC — President Donald J. Trump signed an executive order on August 7, 2025, aimed at preventing financial institutions from denying services to Americans based on their political or religious beliefs or lawful business activities. The order comes in response to past instances where banks and regulators allegedly engaged in politically motivated account closures and restrictions.
The order cites examples of financial institutions participating in government-directed surveillance programs after the events of January 6, 2021, flagging transactions related to companies such as Cabela’s and Bass Pro Shops or payments referencing “Trump” or “MAGA” without evidence of criminal conduct. It also references “Operation Chokepoint,” a prior federal effort that pressured banks to limit services to certain legal industries deemed high-risk or controversial by regulators.
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Under both the first Trump and Biden administrations, Washington argued that it needed to limit China’s technological development by barring more and more sensitive products from being exported to its strategic rival. Now, Trump’s decision to allow Nvidia and AMD to sell their advanced AI chips to China in exchange for a 15% cut of their revenue turns the export control regime into something like a bargaining chip.
The Trump administration is already positioning the deal as a playbook for other products and industries. “Now that we have the model and the beta test, why not expand it?” U.S. Treasury Secretary Scott Bessent said on Bloomberg TV on Wednesday.
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President Donald Trump on Tuesday threatened to file a lawsuit against Jerome Powell, the Chairman of the Federal Reserve, over renovations to the agency’s building.
In a post on Truth Social, the president lambasted Powell over his refusal to lower interest rates and his handling of the renovations to the Federal Reserve’s building.
“Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump wrote. ‘Steve “Manouychin’ really gave me a ‘beauty’ when he pushed this loser. The damage he has done by always being Too Late is incalculable.”
Trump said he is “ considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings.”
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Inflation numbers released Tuesday beat economists’ expectations, sending one CNN anchor into an emotional tailspin as she attempted to explain away why President Donald Trump keeps winning each news cycle.
The July consumer price index (CPI) report showed that total energy prices fell 1.1% while food prices held steady and shelter ticked up 0.2%. Gas prices dropped 2.2%, an anomaly for a summer month where a record number of Americans travel during the summer holiday season, but also a reflection of a global economic slowdown.
On CNN, a morning anchor could barely stifle her surprise that Americans aren’t feeling a greater pinch at the grocery store after countless economic experts warned about the shock that President Trump’s tariffs would have on food prices.
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House Republicans defied many of the White House’s requests for cuts to programs that don’t align with the president’s America First agenda.
In May, the Office of Management and Budget submitted its fiscal year 2026 Discretionary Budget Request asking Congress to cut funding to programs accused of wasting taxpayer dollars pushing left-wing ideology abroad. While the House Appropriations Committee reduced or eliminated funding for some of the requests, many remain untouched or barely adjusted.
For instance, OMB requested the elimination of funding to the Asia Foundation and East-West Center, which previous administrations have used for advice on how to deal with China.
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July’s Consumer Price Index (CPI) report indicates that inflation is cooling more than expected, providing a boost to stock futures and placing greater weight on the U.S. dollar.
Consumer prices rose 2.7 percent in the 12 months since last July. This matched the 12-month period since June and came in below the expected rate of 2.8 percent. Core CPI, often considered a more accurate reading of long-term trends in the economy, rose .3 percent and 3.1 percent from a year ago.
Shelter costs ticked up 0.2 percent, accounting for most of the index’s gain, according to the BLS. Food prices held steady, while energy prices dropped 1.1 percent.
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The Bureau of Labor Statistics released July’s Consumer Price Index this morning, and the numbers tell a complicated story. While overall inflation held steady at 2.7 percent annually, core inflation—the measure that strips out volatile food and energy prices—accelerated to 3.1 percent, its highest level since March and well above the Federal Reserve’s 2 percent target.
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A growing number of tech elites are funding startups to edit human embryos, aiming for genetically modified children within years. Backers like Coinbase founder Brian Armstrong and investors Malcolm and Simon Collins, who are linked to eugenics and IQ-based gene selection, are pushing CRISPR, artificial wombs, and advanced IVF. It’s a leap toward an industrialized future where reproduction leaves the family and enters the lab, echoing Brave New World.
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A federal appeals court on Wednesday reversed a district court’s order and allowed President Trump to cut billions of foreign aid payments that Congress already approved.
A three-judge panel on the DC Circuit Court of Appeals in a 2-1 ruling overruled a lower court’s order that blocked Trump from cutting billions of dollars to USAID.
The three judges included: Majority: Karen Henderson (George H.W. Bush), Gregory Katsas (Trump), and dissent: Florence Pan (Biden).
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In a recent study, researchers at the University of Texas at Austin examined data from Aid Access. This self-identifying “non-profit” telehealth abortion service ships Mifepristone and misoprostol to women in all 50 states. The authors of the study claimed that telemedicine has become a crucial access point for lower-income pregnant women seeking abortions.
Oh, the ignorance of the highly educated.
The study’s glowing headline attempts to frame telehealth abortion as a lifeline for the poor. But when you pull back the curtain, you find a system that offloads risk onto women, shields abortionists from accountability, and leaves some of the most vulnerable in our society alone in pain, sometimes delivering fully formed babies into toilets.
After Roe v. Wade was mercifully overturned in 2022, Aid Access saw usage of its services spike in states with strong pro-life protections. The study found that telehealth abortions were more than twice as high in these states. Why? Abortion providers are skirting protective pro-life laws by mailing pills into states where unfettered abortion is no longer the law of the land.
China Limits Critical Mineral Supplies to Western Defense Manufacturers– legalinsurrection.com
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Our amazing Leslie Eastman has been reporting on this subject since January:
Defense manufacturers must “stop buying rare-earth magnets that contain China-sourced minerals by 2027.”
Well…it looks like China will make that happen before 2027.
The Wall Street Journal reported that China is now limiting the flow of critical minerals to Western defense manufacturers:
Earlier this year, as U.S.-China trade tensions soared, Beijing tightened the controls it places on the export of rare earths. While Beijing allowed them to start flowing after the Trump administration agreed in June to a series of trade concessions, China has maintained a lock on critical minerals for defense purposes. China supplies around 90% of the world’s rare earths and dominates the production of many other critical minerals.
As a result, one drone-parts manufacturer that supplies the U.S. military was forced to delay orders by up to two months while it searched for a non-Chinese source of magnets, which are assembled from rare earths.
Certain materials needed by the defense industry now go for five or more times what was typical before China’s recent mineral restrictions, according to industry traders. One company said it was recently offered samarium—an element needed to make magnets that can withstand the extreme temperatures of a jet-fighter engine—for 60 times the standard price. That is already driving the cost of defense systems higher, say suppliers and defense executives.
Boeing workers who build fighter jets go on strike – Chicago Tribune– www.chicagotribune.com
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Boeing workers who build fighter jets went on strike Monday at midnight Central Daylight Time.
About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of Machinists and Aerospace Workers union said Sunday.
In a post on X, the union said: “3,200 highly-skilled IAM Union members at Boeing went on strike at midnight because enough is enough.”
The vote followed members’ rejection last week of an earlier proposal from the troubled aerospace giant, which had included a 20% wage increase over four years.
“IAM District 837 members build the aircraft and defense systems that keep our country safe,” said Sam Cicinelli, Midwest territory general vice president for the union, in a statement. “They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise.”
Bangladesh tribunal commences trial of deposed PM Hasina over crimes against humanity– economictimes.indiatimes.com
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Bangladesh’s International Crimes Tribunal (ICT) on Sunday commenced the trial of deposed Prime Minister Sheikh Hasina in absentia over crimes against humanity related to the violent suppression of the 2024 student-led protests.
The interim government-appointed Chief Prosecutor, Tajul Islam, in his opening statement, described Hasina as the “nucleus of all crimes” and called for the maximum penalty.
The prosecution also named Hasina’s two top aides — former home minister Asaduzzaman Khan Kamal and former Inspector General of Police Chowdhury Abdullaah Al Mamun — as the co-accused in the case.
The ICT commenced the proceedings against Hasina on several charges, with the major one being killings and tortures to tame last year’s Students Against Discrimination (SAD)-led violent street campaign that eventually toppled her Awami League government on August 5, 2024.
Top economist warns the U.S. is ‘on the precipice of recession’ — and it will be hard for the Fed to come to the rescue– fortune.com
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The shocking jobs report on Friday wasn’t the only red flag. Indicators from the past week paint an overall picture of an economy that’s headed for a downturn, according to Moody’s Analytics chief economist Mark Zandi.
After months of looking remarkably resilient in the face of President Donald Trump’s tariffs, the economic outlook has suddenly turned gloomier.
“The economy is on the precipice of recession. That’s the clear takeaway from last week’s economic data dump,” Zandi wrote in a series of posts on X on Sunday. “Consumer spending has flatlined, construction and manufacturing are contracting, and employment is set to fall. And with inflation on the rise, it is tough for the Fed to come to the rescue.”
Payrolls grew by just 73,000 last month, well below forecasts for about 100,000. Meanwhile, May’s tally was revised down from 144,000 to 19,000, and June’s total was slashed from 147,000 to just 14,000, meaning the average gain over the past three months is now only 35,000.
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A federal appeals court on Friday paused a lower court injunction that had blocked the Trump administration from ending union bargaining rights for thousands of federal workers at 21 agencies.
The U.S. Court of Appeals for the Ninth Circuit granted an emergency stay sought by the administration, putting on hold a preliminary injunction issued by District Judge James Donato in June in response to a lawsuit filed by the American Federation of Government Employees (AFGE) and five other unions representing federal employees.
The unions sought to challenge President Donald Trump’s March 27 executive order, which aimed to eliminate collective bargaining rights for employees of government agencies with national security missions.
In a 15-page decision, the San Francisco-based Ninth Circuit panel stated that the government is likely to succeed on the merits of the plaintiffs’ retaliation claim, finding that Trump’s order does not, on its face, “express any retaliatory animus.”
“Even assuming that plaintiffs have made out a prima facie claim of retaliation, on this record the government has shown that the president would have taken the same action even in the absence of the protected conduct,” the judges stated.
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Skydance Media on Monday rolled out the new executive leadership team ahead of this week’s long-stalled $8 billion merger with Paramount Global.
Skydance CEO David Ellison, the son of billionaire Oracle co-founder Larry Ellison, will assume the helm of the new publicly traded company, to be called Paramount Skydance Corp., when it debuts Thursday.
The media giant — whose properties include CBS, MTV, the Paramount Pictures studio and the Paramount+ streaming service — will be structured into three primary business segments: Studios, Direct to Consumer, and TV Media, the tech scion said.
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hite House economic advisers on Sunday defended President Donald Trump’s firing of the head of the Bureau of Labor Statistics, pushing back against criticism that Trump’s action could undermine confidence in official U.S. economic data.
Later on Sunday, Trump again criticized BLS Commissioner Erika McEntarfer, without providing evidence of wrongdoing, and said he would name a new BLS commissioner in the next three or four days.
U.S. Trade Representative Jamieson Greer told CBS that Trump had “real concerns” about the BLS data, while Kevin Hassett, director of the National Economic Council, said the president “is right to call for new leadership.”
Hassett said on Fox News Sunday the main concern was Friday’s BLS report of net downward revisions showing 258,000 fewer jobs had been created in May and June than previously reported.
Trump accused McEntarfer of faking the jobs numbers, without providing any evidence of data manipulation. The BLS compiles the closely watched employment report as well as consumer and producer price data.
The BLS gave no reason for the revised data but noted “monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.”
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CBS News is tracking the rising cost of products, including those most likely to be impacted by tariffs imposed earlier this year and new ones announced by President Trump on August 1, from the cost of common grocery items to the price of owning a vehicle.
Economists and other experts say consumers can expect to see higher prices in coming weeks and months for imported items.
Perhaps the most impacted day-to-day purchases for American families will be at the grocery store, where a large share of our most commonly purchased fruits and vegetables are imported from Mexico, Canada, China and other countries facing tariffs. Experts suggest the cost of those tariffs will be passed on to consumers in the grocery checkout lane.
The categories in this tracker reflect a selection from the U.S. Bureau of Labor Statistics’ Consumer Price Index and average price data. We focused on goods and services that make up a meaningful share of household budgets and have noted with a special orange marker those that could be affected most by tariffs.
Illinois governor says Texas Democrats who fled will be protected amid arrest threats – The Guardian
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The Illinois governor, JB Pritzker, has vowed to protect the Democratic members of the Texas house of representatives who left the state in an attempt to block Republican efforts to redraw Texas’s congressional maps.
“We’re going to do everything we can to protect every single one of them and make sure that – ’cause we know they’re doing the right thing, we know that they’re following the law,” Pritzker said at a press conference on Sunday in Illinois alongside some of the the Texas Democratic lawmakers.
The Texas Democrats fled the state on Sunday in an effort to prevent the Texas house from reaching the quorum on Monday needed to vote on a newly proposed congressional map.
In response to the Democrats’ actions, Greg Abbott, the Republican Texas governor, threatened to expel the Texas Democrats from the state house if they do not return by Monday at 3pm CT – when the legislature is set to resume. Ken Paxton, Texas’s Republican attorney general, also condemned their actions on Sunday and threatened their arrest.
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Opting to use what Texas politicians called a nuclear option, dozens of Democratic members of the Texas House of Representatives arrived in Chicago on Sunday under threat of fines, arrest and removal from office to deny Republicans the quorum they need to redraw five congressional districts aimed at helping President Donald Trump and the national GOP maintain its narrow U.S. House majority in next year’s midterm elections.
A supportive Illinois Gov. JB Pritzker met the Texas Democrats after they landed Sunday evening at O’Hare International Airport. At a late-night news conference, Pritzker praised the Texans for displaying “a righteous act of courage” as he called Trump a “cult leader” and “would-be dictator.” The Illinois governor also criticized Texas Republicans for using a special legislative session in Austin, aimed at providing relief for last month’s flood victims in the state’s Hill Country, to please Trump and use it “as political cover to push through a racially gerrymandered congressional map.”
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A showdown over redistricting in Texas played out here on Sunday as dozens of state Democrats took refuge roughly 1,000 miles away from home, saying they had fled Texas to deny a quorum to Republican efforts to add as many as five congressional seats to their map.
It culminated with Texas’ governor, a Republican, threatening to expel the Democrats from the Texas state House and potentially extradite them, saying they may be “felons.”
The Texas state House Democrats filed off of buses and Ubers into a crammed county party headquarters at a strip mall Sunday night, standing alongside Illinois Gov. JB Pritzker to rail against what they charged was a racist, unfair and undemocratic attempt to overhaul the Lone Star State’s political map.
Texas House Democratic Caucus Chair Gene Wu said that he believed about 57 Democrats have left the state, with the bulk staying in Illinois for at least the immediate future. Other House Democrats were in Boston and Albany, New York.