Inflation data, firing threats and policy updates: What’s moving markets

Key Points

1. June's CPI report showed a 0.3% month-over-month increase, with a 12-month rate of 2.7%, higher than May's 2.4%.

2. Odds of unchanged interest rates later in the month rose to 97.4% following the CPI report.

3. President Trump made ambiguous statements regarding potential actions against Fed Chair Powell, though he later downplayed the likelihood.

4. The GENIUS Act failed to pass a procedural vote due to opposition from GOP Freedom Caucus members, with ongoing developments in crypto policy.

5. The White House has reportedly scheduled time for Trump to sign a bill into law on Friday, though specifics of the bill were not detailed.