💰 Minimum Wage Hikes Take Effect in 15 States and Cities
As of July 1, over 880,000 workers will see pay bumps in places like Alaska, Oregon, and Washington D.C., adding $397 million annually to wages. Major cities including Chicago, LA, and San Francisco are also raising rates. Meanwhile, lawmakers in states like Missouri are pushing to limit voter-approved increases.
📈 Consumer Confidence Hits 4-Month High Despite Job Fears
June saw consumer sentiment rise to 60.7 — the highest since February — as inflation fears ease. Expectations for 1-year inflation dropped from 6.6% to 5%, and long-term outlooks fell to 4%. Still, more than half of consumers expect unemployment to rise, and tariff concerns linger.
🏦 Trump Blasts Fed, Demands Immediate Rate Cuts
In a fiery interview, Trump slammed Fed Chair Jerome Powell as “stupid,” demanding rates be slashed to 1–2%. With current rates at 4.25–4.5%, he warned no future Fed appointment would be made without a promise to cut. Treasury Secretary Bessent hinted a replacement could be named by October.
🌐 Trump Holds Firm on July 9 Tariff Deadline
President Trump confirmed the 90-day global tariff pause will expire July 9, with no extensions planned. Countries will soon receive notice of new tariffs — ranging from 10% to 50% — based on their trade relations with the U.S. Negotiating 90 individual deals remains an uphill battle.
🥈 The Silver Institute: Silver Faces Fifth Straight Year of Deficit
For the fifth year in a row, the world used more silver than it produced. The Silver Institute’s World Silver Survey 2025 shows a 149M oz shortfall in 2024, driven by record industrial demand. With another 117.6M oz deficit expected this year, supply pressure on physical silver is building — and smart investors are watching closely.
