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July CPI Looks Better — Perhaps Too Conveniently Better

The July 2026 Consumer Price Index appears, at first glance, to deliver exactly the inflation story policymakers and financial markets would like to see. The Consumer Price Index increased just 0.1 percent in July , following a 0.4 percent decline in June. Annual inflation edged down from 3.5 percent to 3.4 percent , while core CPI slowed to 2.5 percent year-over-year . That is certainly better than the inflation surge seen earlier this year. But the July report deserves more scrutiny than the headline numbers are likely to receive. The issue is that the apparent improvement depends heavily on statistical adjustments, volatile energy prices, and methodological choices that can make a small monthly change look more definitive than it really is. For Black- and minority-owned businesses, which make decisions based on actual fuel bills, rents, insurance premiums, food costs, and borrowing expenses, the distinction matters. The Headline Number Is Doing a Lot of Work BLS reported a seasonall...
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Cooperation Can't Wait: Why Minority Businesses Must Collaborate NOW!

The changing policy environment surrounding diversity, immigration, federal contracting, and economic opportunity presents serious challenges for minority-owned businesses. But it may also create something that has historically been difficult to achieve: sustained economic cooperation across racial and ethnic communities. The central question is no longer simply how Black businesses, Hispanic businesses, Asian American businesses, immigrant entrepreneurs, Native businesses, women-owned firms, or other historically excluded entrepreneurs protect their individual interests. The more important question may be:  What can these businesses accomplish together? A Changing Economic Environment Federal policy toward diversity and contracting has changed substantially. In March 2026, the Administration issued an executive order targeting what it defines as racially discriminatory DEI activities by federal contractors and subcontractors. The order specifically includes vendor agreements withi...
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July Job Losses Signal U.S. Labor Market Has Entered a More Dangerous Phase

The July 2026 employment report provides some of the clearest evidence yet that the U.S. labor market is losing momentum, according to an analysis by Creative Investment Research. Although the headline unemployment rate edged down to 4.1 percent , nonfarm payroll employment fell by 23,000 jobs , while the Bureau of Labor Statistics revised previously reported May and June employment growth downward by a combined 103,000 jobs . The figures represent a significant deterioration from the employment conditions reported earlier this year and reinforce concerns raised by Creative Investment Research following the May and June employment reports. According to the July Employment Situation data provided by the Bureau of Labor Statistics, payroll employment declined by 23,000, compared with an average monthly increase of only 34,000 during the preceding 12 months. Local government education lost 50,000 jobs, retail trade lost 19,000, and financial activities continued to contract, losing anot...
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The NMSDC Certification Case Is an Economic Case.

We filed a Motion for Permission to Submit an Amicus Curiae (Friend of the Court) Brief in American Alliance for Equal Rights v. National Minority Supplier Development Council, et al. , Case No. 2:26-cv-02126-JWB-JBW , pending in the U.S. District Court for the District of Kansas. The proposed brief asks a question that deserves greater attention:  What are the economic consequences of enjoining NMSDC's Minority Business Enterprise certification program? The brief does not attempt to resolve the legal issues before the Court. Instead, it examines the potential effects of disrupting a major supplier-certification system on GDP, employment, wages, procurement costs, competition, business formation, tax revenues, and long-term market efficiency . Certification Has an Economic Function Supplier certification is more than an administrative designation. It can reduce information asymmetry, supplier-search costs, verification expenses, and contracting uncertainty . The brief draws on the...
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Optus–M&F Merger Creates Largest Black-Owned Bank

The announced merger between Optus Financial Corporation and M&F Bancorp marks one of the most significant developments in minority banking in decades. Announced on July 22, 2026, the transaction exceeds $105 million and will create the largest Black-owned bank in the United States with approximately $1.27 billion in assets, subject to regulatory and shareholder approval. Scale matters in banking. Larger balance sheets allow institutions to make larger loans, invest in technology, attract deposits, and expand access to capital in underserved communities. The combined institution strengthens the Minority Depository Institution (MDI) sector while preserving a mission-driven focus on financial inclusion. Minority Depository Institutions by Ownership  (FDIC, Q1 2026) Although the merger reduces the number of Black-owned banks by one, it materially increases the scale and competitive capacity of the resulting institution. The transaction illustrates an important trend: strategic con...
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GDP Growth Slows: Minority Business Enterprises Can Help Sustain America's Economic Expansion

The U.S. economy expanded at an annualized rate of 1.5% during the second quarter of 2026 , according to the Bureau of Economic Analysis (BEA), a slowdown from the 2.1% pace recorded in the first quarter. The data suggests an economy that is still fundamentally resilient. Consumer spending accelerated, business investment —particularly in artificial intelligence infrastructure—grew. Exports increased, offset in part by lower government spending and the continuing drag from trade dynamics. For minority business advocates, however, the GDP report raises a more important question: Where are Minority Business Enterprises (MBEs) in America's growth strategy? Looking Beyond the Headline The true driver of economic activity consumer spending (accounting for 70% of GDP) increased significantly during the quarter, and private investment continued to support expansion. Real final sales to private domestic purchasers remained considerably stronger than the overall GDP figure. Sustained econom...
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There is Value in the Unmeasurable: Takeaways from the Global Homeboy Network DC Summit. Charlotte Griffin, Boston College.

“We are called to be faithful, not successful.” Fr. Gregory Boyle, SJ borrowed these words from Mother Teresa while describing the mission of Homeboy Industries . For the unfamiliar, Homeboy Industries is the largest gang rehabilitation and re-entry program in the world. Initially, this quote appears to reject the pursuit of success altogether. But after attending the Global Homeboy Network DC Summit hosted by Georgetown University’s McCourt School of Public Policy , I came away with a different interpretation. Rather than dismissing success, Fr. Boyle challenged attendees to embrace a more holistic definition.  In today’s world, success is increasingly being determined only by what can be counted. Organizations are expected to demonstrate impact through metrics, dashboards, and measurable outcomes. Then in turn, investors often rely on these metrics to determine whether an initiative is a worthwhile investment. While these tools are undoubtedly useful, the summit served a...
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