Inflation Hits New Six-Year High, Despite Marginally Missing Estimates

U.S. CPI is the headline data release this week and it comes on the heels of the weaker-than-expected AHE print that accompanied the June jobs report on Friday. It will also be viewed in the context of the June Fed minutes which betrayed a committee that, while characterizing the U.S. economy as “very strong” and while expressing concern about the prospect of overheating in light of fiscal stimulus, also described the trade tensions as “intensifying.” Remember, the Fed is undoubte