The August economic reports.
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What are the key economic indicators released for August?
From executive producer Isaac Saul, this is Tangle.
Good morning, good afternoon, and good evening, and welcome to the Tangle Podcast. This is Tangle's managing editor, Ari Weitzmann, tagging in for today's edition with an economic update and adding in some predictions of my own. Our edition today is also bookended by a plug about an interview between our editor Will Kback and the Atlantic's Graham Wood about Al Qaeda, and then we end with a little bit of a happy story about a noteworthy Appalachian Trail hiker. Before we get into all that though, I have an announcement. And I'm gonna pass it over to the redoubtable Rainer Mario Roka to make the call that summer is over. Autumn is officially, according to me. Here. From the great Roka, here is the poem Autumn Day to lead in today's edition.
Lord It is time. The summer was immense. Now overlap the sundials with your shadows and on the meadows let the winds run free. Allow the fruits on the vine to swell, grant them a few more warm, transparent days, then press their final sweetness into heavy wine. He who has no house now will never have one. He who is alone will stay alone. Усет. Read. Write long letters through the night and walk the boulevards up and down restlessly. All the dry leaves blow. And with that I give you the economy.
Thanks, sorry. All right, here are today's quick hits. Representative Chris Pappas, a Democrat, and former Senator John Senunu, a Republican, advanced in their respective Senate primaries in New Hampshire in the race to replace retiring Senator Jean Shaheen, a Democrat. Number two, the United Kingdom banned trade with Israeli settlements in the West Bank in response to what the country described as ethnic cleansing of Palestinians by Israeli settlers. France and Canada announced they will implement similar policies. Number three Houthi rebels in Yemen struck energy and civilian sites in Saudi Arabia, wounding at least seventy three people and halting operations at some energy facilities. Number four, the Trump administration filed an emergency application asking the Supreme Court to lift a block on a federal citizenship database ahead of the midterm elections.
And number five, New York City released documents that appeared to show that city officials were aware of air quality health risks in the aftermath of the nine eleven attacks, but withheld that information from the public.
As we near the midterms, we're hearing two different realities when it comes to the economy. The markets are near record highs, was another great day today, but there are other troubling realities. Mortgage rates hit a new high for 2026, rising to 6.71%. That's the highest level we've seen since July of 2025. And of course, gas prices remain above $4 a gallon. One year ago, the price was nearly. Nearly a dollar lower.
In the run-up to the November midterm elections, new reports on key economic indicators have shed light on the state of the U.S. economy. The Federal Open Market Committee, the FOMC, will meet next week for the third time under Federal Reserve Chairman Kevin Walsh to consider changes to the interest rate in light of a strong jobs report and persistent inflation. Meanwhile, the Iran war and a burgeoning trade dispute with Canada have added new variables to the economic picture. On Friday, the Bureau of Labor Statistics reported that the US economy added one hundred sixty two thousand non farm jobs in August, significantly exceeding economists' projections, and the unemployment rate remained unchanged at four point one percent.
Furthermore, the jobs numbers for June and July were revised upward by eleven thousand and forty four thousand, respectively. Separately, in August, the Bureau released its latest inflation report, finding that the consumer price index, the CPI, increased point one percent from June to July and three point four percent from the year prior. Energy prices, which surged earlier this year after the start of the Iran War, fell one point five percent on a monthly basis, but have risen fourteen point seven percent over the past twelve months.
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