At its meeting on June 14th, the Federal Reserve did something that it hasn't done in 15 months: it decided not to raise interest rates. This slight pause in the Fed's battle against inflation gives us an opportunity to discuss the state of our economy and the markets at the midway point of 2023.

On today's show, we take stock of the latest market data, put current inflation and interest rates in their proper context, and consider the United States' place in the global economy.