For the first time in Federal Reserve Chair Kevin Warsh’s tenure, the committee voted to raise interest rates by a quarter-point to a target range of 3.75% to 4.00% in a move that was all but certain after a flat CPI inflation reading last week.
Shipments of cutting tools totaled $270.5 million in June 2026. The value of shipments increased 12.8% from May 2026 and was up 31.7% from June 2025. Year-to-date shipments totaled $1.47 billion, up 19.3% from the same period in 2025.
New orders of metalworking machinery totaled $605.8 million in July 2026, an 8% decrease from June 2026 and a 55.2% increase over July 2025. The total through the first seven months of 2026 was $4.03 billion, a 37.1% increase over the same period in 2025.
In his first address as head of the Federal Reserve, Chair Kevin Warsh reiterated the Fed’s commitment to bringing inflation back to the 2% target. He also highlighted business capital investment having its highest growth rate since 2021.
Shipments of cutting tools totaled $270.5 million in June 2026. The value of shipments increased 12.8% from May 2026 and was up 31.7% from June 2025. Year-to-date shipments totaled $1.47 billion, up 19.3% from the same period in 2025.
Total U.S. industrial production increased 0.2% in July 2026, a slight slowdown from the 0.3% growth in June. While the production of consumer goods contracted in July, it was offset by the rise in industrial equipment, space, and defense production.
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New orders of metalworking machinery totaled $672.7 million in June 2026, increasing 15.6% from May 2026 and 56.8% from June 2025. In the first half of 2026, orders totaled $3.44 billion, the strongest half-year since USMTO began collecting data in 1998.
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