Rolling coverage of the latest economic and financial newsFederal Reserve chair blames Trump’s tariffs for preventing interest rate cutsUS dollar has worst first half in more than 50 years amid Trump tariffsSainsbury’s has recorded its strongest growth since last summer after its Argos chain recorded a big step up in sales as shoppers sought out paddling pools and fans during recent hot weather.The retail group said Argos, its catalogue shop, was able to achieve growth of 4.4% in the three months to 21 June, up from 1.9% in the previous quarter. Comparable group sales, excluding fuel, rose 4.7% on a year earlier.Companies have now expanded production slightly for the fourth month in a row, order intake has ceased to fall, and slightly longer delivery times also indicate that demand is picking up a bit.Against the backdrop of numerous uncertainties - US tariffs, the crisis in the Middle East, and Russia’s ongoing war against Ukraine - this can certainly be seen as a sign of resilience. Continue reading...