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Although tariffs’ impact on consumer prices has been modest thus far, “the day of reckoning is finally upon us, and many [U.S. businesses] are planning price adjustments this summer, likely beginning in July.”

“Many firms passed on at least a portion of cost increases to consumers through price hikes or surcharges, although some held off raising prices because of customers’ growing price sensitivity, resulting in compressed profit margins,” according to the Fed’s latest Beige Book survey.

Shortly after the Supreme Court ruled on behalf of employees in the Cornell University excessive fees case, a similar suit was filed by Stifel employees over its profit-sharing 401(k) plan.

The North Carolina–based hospital system was sued by a former employee, who alleges that WakeMed used “forfeited funds to reduce company contributions to the plan” instead of using the funds to reduce "the amounts charged to plan participants” for administrative services.

Still, the U.S. core CPI rose by less than expected in June, thanks to falling prices on both new and used cars.

After months of U.S. officials raving about Mexico’s cooperation on issues around border security, Trump threatened a 30% import tax—barely lower than the 35% rate faced by Canada, which has taken a much more confrontational tone with Trump while Mexico played nice.

“The administration has fought to get Powell to lower rates, and to lower rates more quickly, and to get Powell out of office more quickly. It makes the concerns about the cost of renovation look like a pretense, and that’s not a healthy way to ensure ongoing credibility.”

The Japanese telecom’s $17.7 billion in dollar and euro bonds marks the biggest-ever offering of foreign bonds by an Asian corporate.