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As consumers continue to shift spending away from goods and toward services, both imports and the U.S. trade deficit are declining.

The firm envisions the PYUSD, which is pegged to the U.S. dollar, becoming "a part of the overall payments infrastructure."

Combined with inflation that's running at the slowest pace in more than two years, today's data supports the idea that the Fed can tame price pressures without inducing a recession.

Attorney Glenn Moses attributes the uptick to "...a more conservative approach by banks in their lending practices – causing liquidity issues for business which often results in a bankruptcy filing."

Americans are growing more optimistic about the economy, as wage gains are finally outpacing inflation and unemployment remains low. Consumer sentiment is at its highest since 2021.

Boosting the case for a soft landing, the employment cost index increased just 1% in the second quarter, marking the slowest advance since 2021.