US core PCE inflation hit 3.4% in May, highest since 2023
Why it matters: The 4.1% headline reading and stronger consumer spending kept rate-hike expectations alive for later this year.
CNBC, ABC News +1
Subject
#Commerce Department
US retail sales rose 0.9% in May as gas prices cooled
What's new: Online sales climbed 1.5%, while restaurant sales slipped 0.1% and tax refunds helped support spending.
Bloomberg, ABC News
US threatened curbs on Anthropic’s top AI models for foreigners
What’s new: A Commerce Department letter warned access to Fable 5 and Mythos 5 could require licenses worldwide, with civil and criminal penalties for violations.
CNBC, The Hill