Morning Brief
Wholesale inflation cools, banks surge, crypto set for vote
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Show notes
US producer prices were flat in June, keeping Fed rate cut hopes alive despite recent signs of tariff-driven inflation in some categories. Big banks, including Goldman Sachs (GS), Morgan Stanley (MS), and Bank of America (BAC), posted record trading profits, lifted by market volatility. President Trump says he has the GOP support to pass major crypto legislation as bitcoin hovers near $120,000. The consumer remains resilient, with bank CEOs noting solid spending.
Takeaways:
Producer prices unchanged in June; Fed may keep rates steady
Goldman Sachs, Morgan Stanley, BofA report record trading profits
House set to vote on crypto regulation as bitcoin stays strong
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