• Consumer Sentiment: 54.4 (July preliminary, above expectations of 51)
• 1-Year Inflation Expectations: 4.2% (down from 4.6% in June)
• 5-Year Inflation Expectations: 3.3% (July preliminary)
• US Public Debt: Surpassed 100% of GDP for first time since WWII

The Checkup

Fed Chair Kevin Warsh dropped his strongest hint yet about potential rate hikes during congressional testimony, telling lawmakers "we have the tools to do it" while stopping...