From a "choked off" global oil supply to a 4.2% inflation forecast, we examine the forces currently putting the Federal Reserve’s interest rate cuts on hold.

• Dissenting views within the Fed and expectations for a September rate cut
• How companies are navigating rising tariff costs and their impact on inflation
• The continued strength of international markets and the value of diversification in a positive month for most asset classes

A remarkable second-quarter recovery, the latest U.S. credit rating downgrade, and an uptick in “pump and dump” scams made for an exciting quarter on the commentary front. In this edition, we look at what these events say about the power of diversification across the U.S. and international equity markets.

• How trade tensions and shifting policy fueled significant market volatility
• The Federal Reserve’s "wait-and-see" approach to interest rates and inflation
• Why a vast majority of investors successfully tuned out the "noise" in April