Overview

• Comedian Bill Maher conceded on his July 28 Club Random podcast that his forecast of economic collapse under President Trump’s tariff measures had been incorrect.
• He highlighted record-setting stock market levels as a key sign that tariffs had not derailed growth.
• Federal Reserve data show manufacturing output rose 0.1% in June following a revised 0.3% increase in May.
• U.S. jobless claims fell by 4,000 in mid-July and retail sales rose 0.6% in June, reflecting consumer resilience.
• President Trump announced new trade agreements with the European Union, Japan and the Philippines this week.