Economic conditions, inflation trends and their effects on American households remained central topics last week. Grocery and fuel costs stayed higher than a year earlier, influencing spending choices by families and companies. The International Monetary Fund lowered its 2026 global growth forecast to 3 percent, citing energy disruptions from the Iran conflict, though gains in artificial intelligence investment provided some offset. US growth is still projected at 2.3 percent, while the euro area is expected to expand only 0.9 percent. Existing home sales declined 2.4 percent in June, yet the national median price rose 1.8 percent to a record $440,600. Minutes from the Federal Reserve showed officials divided on whether inflation will remain high or ease after the conflict ends. The International Energy Agency forecast the first drop in worldwide oil demand since 2020, mainly in Asia. US jobless claims fell modestly to 215,000, while June payroll gains slowed sharply to 57,000. US equities and oil prices moved lower amid ongoing uncertainty.
