U.S. CPI and Fed Chair Warsh testimony steer markets, earnings

From July 13‑17 2026 the U.S. June consumer‑price index (CPI) is the week’s focal macro data. Analysts expect the headline CPI to slow to about 3.8 % year‑over‑year, with core inflation near 2.8 %, a decline from the previous 4.2 % reading. The release will be followed the same day by Federal Reserve Chair Kevin Warsh’s semi‑annual monetary‑policy testimony before the House Financial Services Committee and, on the next day, the Senate Banking Committee. Warsh’s remarks are anticipated to signal whether the Fed will keep rates steady, move toward a cut, or stay hawkish.

Simultaneously, the second‑quarter earnings season launches, led by the United States’ largest banks—JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Bank of America—whose results are viewed as a barometer of consumer credit, loan quality and overall economic strength. Equity markets, Treasury yields and the U.S. dollar are poised to react to both the inflation numbers and the banks’ performance.

Crypto traders are watching the same data, as a softer CPI could lift Bitcoin and Ethereum by reducing risk‑off pressure, while a surprise uptick may depress digital assets. The week also includes discussion of the U.S. “Clarity Act” that would clarify cryptocurrency regulation, adding another layer of market sensitivity. Geopolitical tension in the Middle East, especially between the United States and Iran, is keeping oil prices elevated, further heightening market volatility.

Overall, the convergence of inflation data, Fed testimony, major bank earnings, and cryptocurrency regulatory news is set to shape market expectations for monetary policy and risk appetite through the week.