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Hey friends - don’t stay too late today. Go enjoy your summer Friday.
Welcome back to the weekly Scoops Spotlight, where we’ll serve up a little summary of the week with the company scoops that got the most community reactions.
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🌎 The Big Picture
This week was a bunch of mixed signals. The main thing everyone’s talking about is whether the Federal Reserve will start cutting interest rates again in September, bringing down borrowing costs to make it easier for families and businesses to borrow, spend, and invest. That would help stimulate the economy a little more, which might give a boost to the very slow hiring market right now.
The reason they wouldn’t do that is the fear of inflation. Stimulation creates inflation. That’s what happened post-pandemic. Right now, inflation is mostly under control, but tariffs are the main concern. Raising the cost of anything businesses import by anywhere from 10 to 50 percent is bound to drive prices higher. When, where, and by how much is far from certain.
So far, whether it’s because 1) many of the tariffs have largely been threats for months and only recently went into effect, or 2) businesses tactically imported a bunch of cheaper stuff ahead of the tariffs and have been eating some of the initial cost burden, the tariff impact on prices at the checkout counter has been smaller than people initially expected. That has given optimists hope that the impacts won’t be that bad, that businesses can absorb or avoid much of the costs, or that other declining costs, like gas, would help offset inflation in other areas.
The Consumer Price Index this week backed up that optimism, showing only some tariff-exposed industries starting to raise prices for customers, with stabilizing rents and falling prices at the pump helping offset.
The Producer Price Index this week shook up that narrative, showing a massive spike in costs for businesses on the wholesale level. The PPI is often a warning shot for consumer prices, because it captures what businesses pay for their supplies. Some of the biggest jumps weren’t even just from tariffs, but also in agriculture, where farms are getting hit with worker shortage issues from deportation initiatives.
People still expect the Fed to cut rates next month, but if inflation keeps climbing, policymakers may not be willing to bring down borrowing costs much more.
The concerning part is that one of the main rescue tactics for rising unemployment is for the Fed to cut rates and stimulate more business. The Fed cares more about preventing crazy inflation than it does about keeping unemployment low. So, if layoffs start ramping up alongside worsening inflation, the Fed may not be able to do much to step in and help.
How are you feeling about the economy? |
Get the full breakdown of all the trends affecting your home, wallet, and career in the new Weekend Scoop on the Scoops app!
🏭 The Companies Everyone’s Talking About
 Walmart, Inc. 👍 71% 👥 53% | 🌏 50% | 💰 59% | Employee Support Walmart is expanding its employee perk by offering a 10% discount on nearly all grocery items, including milk, meat, and frozen foods. The benefit now covers 95% of regularly priced items for its 1.6 million U.S. employees after their first 90 days. America's largest private employer hopes to ease employees' budgets while boosting loyalty and in-store spending. |
 Ford Motors Co. 👍 61% 👥 53% | 🌏 55% | 💰 52% | New EV Playbook Ford is reimagining its electric vehicle production with a breakthrough universal platform and a reimagined 'assembly tree' process. This new method uses fewer parts and cost-saving lithium iron phosphate batteries. A $2 billion investment in a Kentucky plant will prepare production for a $30,000 electric pickup truck by 2027. |
 Costco Wholesale Corporation 👍 84% 👥 50% | 🌏 50% | 💰 55% | Pill Policy Costco is choosing not to offer the abortion pill Mifepristone at over 500 pharmacy locations, stating that there is little consumer demand for the abortion pill at its stores. A faith-based group urged the move, though Costco was unclear about whether activist pressure influenced the decision or it was simply a careful approach to selecting controversial products. |
 Apple, Inc. 👍 68% 👥 58% | 🌏 57% | 💰 69% | Secret Swipe Apple faces a lawsuit alleging it stole mobile wallet technology from Fintiv for its Apple Pay service. The suit claims that during early licensing meetings, Apple misappropriated trade secrets and recruited key employees, setting up lucrative partnerships with banks and payment networks. A negative ruling could hurt Apple’s reputation and affect its long-term digital payments success. |
 Match Group, Inc. 👍 65% 👥 59% | 🌏 50% | 💰 49% | Dating Don'ts The parent of Hinge, Tinder, and other major dating apps has agreed to pay $14 million to settle FTC allegations over deceptive advertising practices amid a 13% staff reduction and renewed efforts under CEO Spencer Rascoff to rebuild consumer trust. Match Group must now offer clearer terms and easier subscription cancellations, addressing complaints of hidden conditions in free trial offers. |
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❔ The Big Question of the Week
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