The Week in Numbers: US Inflation, Bitcoin Surge, and TSMC Profits

US Inflation and Tariffs

• 📈 US inflation in June was at an annual rate of 3.5%, a significant increase from the previous month.
• ⚠️ Economists suggest this rise may indicate that Trump's tariffs are impacting prices and could reduce expectations for further interest rate cuts.
• 😠 President Trump expressed frustration with Fed Chief Jerome Powell over the Fed's cautious stance on rates.

Trade Deals and Retaliation

• 🤝 Indonesia secured a new tariff deal with the US, with Trump setting a 19% tariff on goods from Indonesia, down from a threatened 32%.
• 🇪🇺 The EU is preparing retaliatory measures if a trade accord cannot be reached before an August 1st deadline.

Chip Giant TSMC's Performance

• 🚀 Chipmaker TSMC reported a profit surge of over 60% in the latest quarter.
• 💡 The Taiwan-based firm, a leading producer of AI chips, is benefiting significantly from the chatbot industry boom.
• 📈 TSMC anticipates continued sales growth, with no signs of cooling demand.

China's Economy and Bitcoin's Rise

• 🇨🇳 China's economy grew by 5.2% year-on-year in the April-June quarter, exceeding forecasts, partly due to factories expediting orders before tariffs took effect.
• 📉 Analysts believe weak domestic demand and trade uncertainties may prompt Beijing to implement further economic stimulus.
• 💰 Bitcoin reached a new record high of $123,000, driven by investor optimism that the Trump administration might enact crypto-friendly policies.