On Friday, June 16 the Fed released the semiannual monetary policy report to Congress. The report is inclusive of data available through 16:00 ET on June 14. As such it doesn’t include the May data on retail sales, jobless claims for the week ended June 10, the import and export price indexes, or the University of Michigan consumer sentiment index. Policymakers have access to the data on industrial production since that is produced by the Federal Reserve. These reports don’t really change the picture painted by the data which is one of a still tight labor market and inflation at the core which is mainly in ... (full story)