The Rundown Congress Votes on Critical Crypto Bills, Goldman Sachs Posts Best Stock-Trading Quarter Ever
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Jul 16, 2025 The latest stock market trends reveal how inflation and tariffs are shaking things up. Amidst these changes, crypto prices are rallying thanks to new regulatory shifts. Goldman Sachs shines with its record stock trading revenue. Earnings reports from various companies illustrate a mix of triumphs and trials. Waymo celebrates a major milestone in autonomous driving, all while grappling with leadership changes and potential tariffs affecting the industry.
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Tariffs May Be Raising Inflation
- Inflation rose to 2.7% in June, highest since February, with big price increases in tariff-impacted goods like appliances and toys.
- This suggests tariffs may be starting to push prices up, complicating the Fed's goal to reach 2% inflation.
Fed Rate Cut Odds Decline
- Market expectations have dropped from a 90% to a 50% chance of a Fed rate cut by September.
- Persistent inflation near 2.7% is breaking hopes for a rate cut, despite political pressure on the Fed.
Congress Crypto Laws Boost Prices
- The Genius Act could create the first US stablecoin regulatory framework and enable banks and retailers to issue their own stablecoins.
- Other bills clarify crypto regulation boundaries and ban a government digital dollar, causing crypto prices to rally ahead of votes.