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Tariffs Trigger Inflation Surge: Households and Businesses Brace for Higher Costs

President Trump’s escalating trade war is fueling inflation, with grocery staples and critical materials seeing sharp price hikes. Import prices jumped at their fastest pace this year, undermining claims that foreign suppliers would absorb tariff costs. Wholesale prices are also climbing at a three-year high, signaling more consumer price pressures ahead. Vegetables from Mexico, now facing 25% tariffs, surged nearly 40% in cost last month alone. With new tariffs on semiconductors, steel, aluminum, and hundreds of other goods set to take effect, Fed officials warn inflation could persist—potentially derailing expected interest rate cuts later this year. All eyes are on Jerome Powell’s upcoming Jackson Hole speech for clues on the Fed’s response. Read More.

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BofA Warns of Dotcom Déjà Vu as Stock Valuations Hit Extreme Levels

U.S. stock valuations are flashing dotcom bubble signals, with the S&P 500’s price-to-book ratio hitting 5.3—higher than levels seen in March 2000, Bank of America strategist Michael Hartnett warns. While factors like AI growth, global rebalancing, and currency debasement may make today’s cycle different, investors’ reliance on expected Fed rate cuts raises risks for the U.S. dollar. Hartnett suggests that if this rally collapses like the dotcom era, bonds and international equities would likely outperform. A weaker dollar—already down 9% this year—could push investors into gold, crypto, and emerging markets, and might even fuel a short-term Trump-era “boom and bubble” in 2025–26. Read More.