Business inventories in July came in at $2.57 trillion, up 0.4% from the month prior and up 2.5% from a year ago, the Commerce Department said today. Trade sales and manufacturers’ shipments were $1.88 trillion, up 1.1% from the month prior and up 2.9% from a year ago.
Former NCUA chair named acting OCC head
Former National Credit Union Administration Chairman Rodney Hood was named acting Comptroller of the Currency by Treasury Secretary Scott Bessent. He succeeds Acting Comptroller Michael Hsu.