On July 16 at a meeting with a dozen House Republicans, President Donald Trump presented a draft of a letter firing Federal Reserve Chair Jerome H. Powell, asking meeting attendees whether he should follow through with sending it. The letter was allegedly written by William J. Pulte, director of the Federal Housing Finance Agency. Pulte has repeatedly called on Powell—who was appointed to his position by Trump in his first term—to resign.

Why is this important? Trump has repeatedly attacked Powell for not cutting the country’s interest rates, which Trump believes would be a boon to the American economy. However, many economists warn that firing Powell—whose term ends in May 2026—will come with drastic economic consequences. They say if a president takes such a step, the political independence of the Federal Reserve will be in question, destabilizing the world economy.

The Bureau of Labor Statistics (BLS) reported on July 15 that the U.S. consumer price index (CPI) for June rose 0.3% over May, and was up 2.7% compared to June 2024. This marks the second consecutive month of increased inflation, as May saw a 2.4% rise in the CPI.

In addition, core inflation—which excludes typically volatile food and energy prices—rose 0.2% in June. This follows a 0.1% increase in May, and a 2.9% increase over June 2024.

The BLS separately reported that average hourly earnings for all employees decreased 0.1% from May to June.

What’s causing this? The BLS’ most recent reporting may represent evidence of Trump’s tariffs taking a toll on the U.S. economy. With the president threatening higher tariffs on countries around the world later this summer, many economists expect a continuing rise in inflation in future months.

On July 8, consulting firm WTW—a global advisory company—released its latest Salary Budget Planning Report, which found that although U.S. companies continue to report challenges with attracting and retaining employees, they plan to keep salary increases flat in 2026 at 3.7%, roughly even with the 2025 increase of 3.8%. Additional survey findings include:

• Of the 31% of organizations that are projecting lower salary increase budgets than last year, the two most common reasons cited are an anticipated recession or weaker financial results (51%) and concerns related to cost management (45%).
• Tight labor markets (59%) and inflationary pressures (30%) are the most commonly cited reasons for change among the relatively few organizations that are projecting higher salary increase budgets.
• Even though pay increases are not rising, only 30% of organizations report difficulty attracting or retaining employees, compared to 41% in 2023.
• Organizations report that they are taking steps to better support their employees, with 47% saying they are improving their employee experience, 43% saying they are enhancing their health and wellness benefits, and 40% reporting that they are increasing training opportunities.

A new report released on June 30 by UN Women, the United Nations organization charged with promoting gender equality worldwide, calls flexible work schedules a “non-negotiable” for achieving equality in the workplace.

The report highlights the findings of the UN Women Time Use Surveys, which found that women spend an average of 4.2 hours a day on unpaid domestic care, compared to 1.7 hours for men.

The report calls attention to the fact that the amount of domestic labor expected of women makes 9-5 jobs exceedingly difficult: “This relentless cycle starts at sunrise—fixing breakfast and getting children ready for the day—and continues into the evening with dinner, homework, baths, and bedtime.”

Flexibility is key. “Flexibility at work could change everything,” the report’s authors conclude. Over half of the women (52%) surveyed … said flexible work would make it easier for them to stay in the economy. The report also found that 45% of women reconsidering their jobs in 2025 blamed a lack of flexibility, and 40% cited poor work-life balance.”

It makes good business sense. The report’s authors cite research that found that giving women the option of flexible work schedules could significantly contribute to the world economy—adding as much as £55.7 billion to the UK economy alone, for example.

Companies that promote gender diversity in the workplace consistently outperform companies that do not, the report concludes: “Ignoring workplace equity doesn’t just hold women back. … It stifles progress, limits innovation, and deprives organizations of fresh ideas, new angles, and leadership that can drive growth. Simply put, inclusive workplaces are fairer, smarter, stronger, and more sustainable.”

As the recruiting industry moves to adopt operating models that increasingly rely on AI to supplement human labor, they are announcing more layoffs.

On July 14, Recruit Holdings, the parent company of Indeed and Glassdoor, confirmed that they had laid off 1,300 employees—or 6% of their workforce. In an internal memo to employees, Recruit Holdings CEO Hisayuki “Deko” Idekoba said the layoffs were tied to the company’s adoption of AI technology.

These layoffs follow Indeed’s reduction in workforce in 2023, when they slashed 15% of their employees, and in 2024, when they cut another 8%.

Recruit Holdings said it was integrating Glassdoor into its Indeed platform and that Glassdoor’s CEO Christian Sutherland-Wong is stepping down later this year.

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