Macro

Strong income and spending masked growing financial strain as households saved less and struggled to keep pace with inflation.

A new Fed chair, stubborn inflation, and uncertain Middle East negotiations left investors weighing the risks of tighter monetary policy against hopes for geopolitical stability.

May inflation hit a three-year high, driven mainly by rising energy prices, pushing Fed rate cuts further out.

May’s jobs report showed a surprisingly strong labor market on the surface, but underlying weakness and persistent inflation may keep the Fed from cutting rates anytime soon.

A stronger-than-expected jobs report reduced expectations for Fed rate cuts, highlighting a slowing but still resilient U.S. economy.

The biggest...