Last week’s economic data presented a picture of consumer resilience emerging alongside the continued challenge of rising inflation. While consumer spending staged a significant rebound in June, inflation heated up for a second straight month. This occurred even as consumer sentiment improved to its best level since February, though consumers remain cautious about future price increases. The market reacted positively to the data, climbing to a new record high on Thursday, despite earlier volatility in the week from rumors that President Trump would fire Fed Chair Jerome Powell.
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