The Producer Price Index which tracks what businesses charge for goods and services, rose 0.9 percent in July. It’s the largest monthly increase in more than three years and evidence that U.S. President Trump’s tariffs are driving up the costs of imported goods.

So far, retailers have been able to shield consumers by pre-ordering inventory but analysts say it’s only a matter of time before those costs are passed on. Tariffs are also impacting the labor market with nearly two million Americans receiving unemployment benefits.

The U.S. Federal Reserve will meet again in September to discuss whether or not to cut interest rates.

Joining the discussion:

• Joseph Williams is a former Senior Editor with U.S. News and World Report.
• Arthur Dong is a Distinguished Teaching Professor with the McDonough School of Business at Georgetown University.
• Brandon Brice is a Conservative Columnist and Secretary for the Delaware Republican Party.
• John Tamny is President of the Parkview Institute and Editor of Real-Clear-Markets.