Treasury
Study: Tax Digital Disclosures Help Analysts Make Decisions More Than Narrative Text
Recent research by Carly Burd, an assistant professor at North Carolina State University, shows that in tax disclosures, specific figures help analysts understand a company's tax situation better than narrative text. The study analyzed 7,944 annual reports from 2,099 companies between 2012 and 2019 and found that detailed tax figures enhance transparency, but such reports are also more likely to be downloaded by IRS employees.
U.S. Retail Sales Edge Up 0.2% in June, Falling Gas Prices Mask Consumer Resilience
U.S. retail sales rose 0.2% month-over-month in June, marking the fifth consecutive monthly increase. Falling gasoline prices reduced revenue at gas stations, but consumer spending excluding energy factors remained solid. Economists expect real household spending to grow at an annualized rate of 2.5% in the second quarter, while also warning that consumption may slow in the second half of the year.
Fed Chair Warsh: US in AI Dominance Race with China
Fed Chair Kevin Warsh testified before the Senate Banking Committee that while the US holds a leading position in artificial intelligence, it is engaged in a "proxy war" with China. He urged regulated institutions and the Fed itself to heighten vigilance against AI attacks, and mentioned the long-term threat posed by China's digital yuan to the dollar's hegemony.
Inflation falls to 3.5%, Warsh commits to achieving Fed's 2% target
Data from the U.S. Bureau of Labor Statistics shows that the Consumer Price Index rose 3.5% year-over-year in June, down from 4.2% in May and below expectations. Fed Chair Warsh testified before the House, pledging to bring inflation down to the 2% target but emphasized the task is not yet complete. Falling energy prices were the main driver of the slowdown, while recent oil price rebounds may push July data higher. Market expectations for a rate hike this month have significantly decreased.
Fintech company Bottomline launches stablecoin-enabled CFO suite
Fintech company Bottomline announced on Monday that it has added stablecoin capabilities to its CFO suite, allowing corporate finance teams to send, receive, and manage stablecoins while retaining approval, control, and audit processes. This move is the latest attempt in the payments and fintech sector to integrate digital assets into mainstream commercial transactions.
Rising inflation may force Fed to raise rates again, Waller says policy rate needs to be hiked
Federal Reserve Governor Christopher Waller warned on Monday that with inflation continuing to run above the 2% target and the labor market stabilizing, the Fed may need to raise the benchmark interest rate in the near term. He cited the core PCE inflation rate rising from 3% in December 2025 to 3.4% in May 2026 as evidence, and noted that if core inflation data come in higher again this week, the FOMC will consider tightening policy. Market expectations for the probability of a rate hike in July have risen from 34.2% last Friday to 43.3%.
"Maximizing Vacation" Does Not Apply to Everyone: Global Leave Data Reveals Differences
Data from the Deel HR platform and a16z shows that most employees globally take only one day off at a time, with France leading at an average of 28 days per year and the United States at only 16 days. Brazil has segmented leave due to legal requirements, while nearly a quarter of U.S. employees take no time off all year.
Survey: Cost-of-living crisis pressures American households
The latest Kitchen Table Project survey reveals that rising prices for groceries, gasoline, and other goods have caused widespread economic pressure across all segments of U.S. consumers. 67% of respondents noted that meat and poultry prices are especially difficult to afford, and nearly four times as many respondents attributed the cost-of-living crisis to rising prices rather than stagnant wages.
Consumer confidence rebounds from historic low, cooling inflation expectations provide boost
The University of Michigan's consumer confidence index rose 10% in June from May's historic low, mainly due to easing tensions in the Iran war driving down gasoline prices. One-year inflation expectations edged down to 4.6%, but remain well above pre-war levels.
Inflation rises to three-year high, consumer spending still grows 0.7% month-over-month
U.S. consumer spending rose 0.7% month-over-month in May, but inflation accelerated to its fastest pace in three years. The PCE price index increased 4.1% year-over-year, and core PCE rose 3.4% year-over-year. Despite low consumer confidence, income growth supported spending, and GDP expectations were revised up to 2.5%.