National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.

President Donald Trump recently issued a raft of new tariff threats, including steep rates on dozens of countries and a new duty on copper imports.

The Labor Department’s consumer price index for June is expected to show that overall inflation rose 2.6 percent from June 2024. That’s up from a 2.4 percent pace in May.

Consumer inflation likely accelerated in June, as the Trump administration's tariffs start to push up prices. The Labor Department's consumer-price index for last month is due at 8:30 a.m. ET. Year-over-year inflation likely picked up to 2.

RIYADH (Reuters) -Inflation in Saudi Arabia accelerated to 2.3% in June compared to the same month last year and was also up slightly from 2.2% in May, government data showed on Tuesday. Inflation has hovered between 2% and 2.

The dollar index is losing momentum near a three week high on Tuesday ahead of US Consumer Price Index (CPI) inflation data, which is due later today. Moreover, Chicago Fed President Austan Goolsbee said that fresh tariffs unveiled by Trump have further muddied the inflation outlook,