Story perspectives

Core CPI Seen at 2.8% Ahead of Fed Testimony

7/13/2026

Summary

Story summary

The United States will release June CPI at 8:30 a.m. ET Tuesday, followed by Fed Chair Kevin Warsh’s testimony at 10 a.m.
Core CPI is forecast at 2.8%, down from 2.9%, to assess energy-price effects from Iran tensions.
Wednesday’s producer price index will be released at 8:30 a.m. ET, providing wholesale-price data.
JPMorgan Chase, Citigroup and Goldman Sachs will post earnings before Tuesday’s open, focusing on net interest income and loan-loss provisions.

History

Historical Context

After President Carter named Paul Volcker Fed chairman in July 1979, the October 6 1979 FOMC meeting began raising the federal funds rate from 11.5% to a 17.6% peak in April 1980, pulling inflation from a 13.5% high that year to below 5% by 1983 but sparking a recession. June’s CPI release and Fed Chair Kevin Warsh’s testimony revive that stance, a backdrop for banks JPMorgan Chase and Goldman Sachs.

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Story summary

The United States will release June CPI at 8:30 a.m. ET Tuesday, followed by Fed Chair Kevin Warsh’s testimony at 10 a.m.
Core CPI is forecast at 2.8%, down from 2.9%, to assess energy-price effects from Iran tensions.
Wednesday’s producer price index will be released at 8:30 a.m. ET, providing wholesale-price data.
JPMorgan Chase, Citigroup and Goldman Sachs will post earnings before Tuesday’s open, focusing on net interest income and loan-loss provisions.

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