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Goldman Sachs

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Inflation

Inflation just had its biggest drop in 6 years. Oil is still rising. Both things are true and that is the whole problem.

CPI fell to 3.5%, blowing past estimates. All five major banks beat earnings. Goldman surged 9%. Warsh told Congress the inflation surge will be "a thing of the past." Then Trump walked back the 20% Hormuz toll. Markets ended the day trying to figure out which number to believe.
14 Jul 2026 6 min read
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