Fed governor Lisa Cook, whom Trump tried to remove from the Board, said she backed the June rate hold over tariff-driven inflation risk, proof that chair Kevin Warsh cannot cut rates without committee support. June retail sales cooled as the Philadelphia Fed's manufacturing index beat sharply.
Philadelphia Fed manufacturing index jumped 31.1 points to 41.4 in July, with new orders rising 9.7 points and shipments surging 18.8 points. Source
