Sales increased 0.7% in July, "a reassuring sign for a U.S. economy that’s facing mounting hurdles."
The July inflation readings reduce "the chances that the U.S. central bank would cut rates by half a percentage point" in September.
The housing market continues to struggle despite lower mortgage rates.
The tepid gain in the PPE points to “relatively subdued inflation, as most of the increase was driven by volatile categories of goods and services.”
The pick-up in underlying inflation in June "argues against aggressive monetary stimulus from the central bank," an economist says.
In Powell’s testimony to Congress, he said ‘crosscurrents’ have been weighing on economic activity and the central bank will ‘act as appropriate.’
Amid "pervasive uncertainty" over trade, "the ECB and the U.S. Federal Reserve appear to have given up on plans to tighten [monetary] policy."
The high-profile lawmakers say a 15% cap is needed to protect consumers from the "economic brutality" of big banks.
The Fed doesn't see "a strong case for moving [rates] in either direction" amid weak inflation and solid economic growth.
“The economy is in a sweet spot for now," with inflation pressures remaining too weak for the Fed to raise interest rates.
“Waiting for construction activity to pick up after a sharp drop in mortgage rates is like waiting for Godot."
Interest rate expectations "have been lowered, plus we have some seasonal headwinds in Q2," CFO Paul Donofrio says.
