According to the University of Michigan survey on Friday, the index of consumer sentiment rose to 61.8 in July, continuing its rise from the previous month.
The S&P 500 Index hit new intraday (6,304.69) and closing highs (6,297.36), while the Nasdaq Composite ended at a fresh peak for a fourth straight session.
Waller predicts that PCE inflation will rise by three-tenths of a percent to 1% in 2025, assuming a permanent increase in import tariffs of approximately 10% but expects the impact to fade away soon.
Japan’s negotiator Ryosei Akazawa is accompanying Bessent in a bid to revive talks, but the U.S. has deferred tariff discussions until after Japan’s elections.
