The economy is covered one event at a time — it has to be. Phoebe was built to read it whole.
Phoebe reads a handful of public reports together — past the headline numbers, never in a vacuum — and weighs the full picture against markets and the Fed’s next move. It’s a smaller job than the coverage makes it look — and one anyone can learn.
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The Weekly Read — the inflation story cooled, the growth question got louder
The week delivered the coolest inflation prints of the year — consumer prices down four tenths, wholesale prices down three, real retail up, claims easing — and the market moved on to the next question. The two-year round-tripped to net −3 bps, the thirty-year held above 5% all week, and a China-led repricing hit the AI names that carried first-quarter growth. The week, read whole.
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The Weekly Read
Where the Data Stands
Inflation’s climb broke in June — consumer and wholesale prices both fell on the month, cheaper fuel doing the work at the shelf and up the pipe, while the core measures barely moved. One month, or the turn? Next answers: PCE Thursday · CPI August 12.
This is the whole handful — the releases Phoebe reads in full when they drop, plus the rates they move; the Weekly Read puts it together.
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| Series | Latest | Trend | Next |
|---|---|---|---|
| Inflation (CPI) | 3.5% JunJul 14 | ▼ first monthly price decline in two years — gas −9.7% did it; core flat at 2.6% | Aug 12 |
| Inflation, the Fed's gauge (PCE) | +4.1% y/yJun 25 | ▲ core 3.4% — both at 12-month highs; the headline runs hot on energy | Jul 30 |
| Wholesale prices (PPI) | 5.5% JunJul 15 | ▼ first monthly decline since Aug 2025 — gasoline −12% did it; core still warm at 4.7% | Aug 13 |
| Jobs added (payrolls) | +57K JunJul 2 | ▼ softest month since February — May revised down from +172K to +129K | Aug 7 |
| Jobless claims | 208K wkJul 16 | ▼ continuing claims −16K, largest drop since late April — both halves eased at once | Thu |
| Job openings & turnover | 7.6M openJun 30 | ▲ a 12-month high but flat; quits at the floor, layoffs ticked up | Aug 4 |
| Growth (GDP) | +2.1% Q1Jun 25 | final est., revised up — but ~¾ came from the equipment & software build, not the consumer | Jul 30 |
| Consumer spending (retail) | +0.2% m/mJul 16 | ▲ volume +0.6%, strongest since March — dollars slowed on cheaper gas; autos and online carried it | Aug 14 |
| Fed funds target | 3.50–3.75%set Dec 2025 | steady since December 2025 | Jul 29 |
| 10-yr Treasury | 4.69%Jul 24 | ▲ +14 bps over 5 days · the rate behind mortgages | daily |
| 30-yr mortgage | 6.58%Jul 23 | ▼ −0.16 over the past year | weekly |
| Debt interest cost | ~$1.0T/yrfiscal year 2025 | 3.2% of GDP · the most since 1991 | quarterly |
Sources: Bureau of Labor Statistics, Bureau of Economic Analysis, Census Bureau, Department of Labor, the Federal Reserve, Freddie Mac, and the U.S. Treasury — directly or via FRED.
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How Phoebe Reads the Economy
The economy is one connected chain — read it the way it moves, tab by tab. It starts with jobs and lands in your wallet.