Mixed US economic indicators, from rising auto-driven retail sales to falling consumer confidence, kept markets uncertain ahead of Jerome Powell’s Jackson Hole address.
Mixed US economic data last week maintained volatility in expectations for Federal Reserve rate cuts. Retail sales rose broadly, supported by auto sales and online promotions, while consumer confidence fell for the first time since April and inflation expectations increased. July CPI and PPI reports sent mixed messages on the impact of President Trump’s full import tariffs but both confirmed persistent services inflation, with PPI posting its highest monthly increase in three years. Fed officials remain split on the possibility of a September rate cut. Key speeches, including Fed Chair Jerome Powell’s at the Jackson Hole conference, and upcoming economic data will be closely watched for policy direction.