The Federal Reserve kept its federal funds target at 3.50% to 3.75% after its July meeting, while three officials favored higher rates and inflation remained above the Fed’s 2% target.
The Federal Reserve’s July 2026 Monetary Policy Report said headline PCE inflation accelerated to 4.1% through May, while core inflation reached 3.4% and energy prices rose 24%.
China is defending an economic model built around advanced manufacturing as expected trade talks with the United States and European Union approach, while weak domestic demand increases pressure for monetary support.
The European Central Bank kept its monetary-policy settings unchanged on July 23, 2026, as conflict-related energy risks and financial uncertainty complicated the euro-area outlook.
The Federal Reserve’s July 2026 report to Congress said headline PCE inflation reached 4.1% through May, while energy prices rose 24% over the same period.
China’s economy grew 4.3% year over year in the second quarter of 2026, its slowest quarterly pace in more than three years, as weak household consumption offset stronger manufacturing and exports.
The People’s Bank of China says it will conduct 2.1 trillion yuan in overnight reverse-repurchase operations from July 29 through August 3 to meet short-term banking-system liquidity needs.
The Bureau of Labor Statistics will release its Employment Situation report for July 2026 at 8:30 a.m. Eastern time Friday, providing the latest national readings on employment, unemployment and wages.
A Federal Reserve watchdog found major gaps in controls protecting sensitive economic information as a former adviser was sentenced in a related case.
