Consumer sentiment in the US fell 3.5 points in June from the previous month, hitting the lowest level in seven months, according to the University of Michigan gauge. Consumers' annual inflation expectations remained unchanged at 3.3%, while five-year inflation expectations increased from 3.0% in May to 3.1% in June.

Former National Association of Wholesaler-Distributors CEO Dirk Van Dongen, who died earlier this month, made an unparalleled difference in the industry through his leadership, advocacy, networking prowess, attention to detail, agility with language, integrity and sheer dedication, according to his associates, including several NAW board members. "He harnessed [the power and influence of wholesale distribution] to give the industry a voice at the table, and consistently punch above its weight in influencing national policy for decades," said Chuck Cohen, a NAW board member.

Improvements in the functioning of global supply chains have done the lion's share of the work in cooling inflation since 2022, according to calculations from the White House Council of Economic Advisers. "I think the supply side is incredibly important," said Lael Brainard, the National Economic Council director.

Investing in data-driven solutions including supply chain control towers and blockchain technology are a key way for food and beverage companies to closely monitor their supply chains and ensure compliance with the Food Safety Modernization Act, writes Geoff Olsen, lead consultant engagement director at Catena Solutions. However, technology alone is not enough, and implementing these solutions must include comprehensive employee training and a robust food safety culture, Olsen advises.

The Federal Motor Carrier Safety Administration has ordered a 25% increase in fees charged to motor carriers, while associated brokers and leasing firms will also see a rise in charges. The fee tariffs, which are largely used to support state highway safety programs under the Unified Carrier Registration Plan, have not been raised since 2010 and FMCSA claims they were effectively decreased in the 2023 and 2024 registration years.

Consultative selling requires organizations to balance relationship-driven and data-driven approaches, writes Proton.ai CEO Benj Cohen. Organizations should use AI to analyze customer behavior and give sales reps insight into their needs, then allow reps to bring the human touch, engage with clients and offer relevant recommendations.

On a worldwide scale, central banks, including the US Federal Reserve, have backed away from lowering interest rates as inflation has remained stubborn while economies and wages have expanded. Only the Bank of Canada and the European Central Bank have begun making small cuts in borrowing rates.

A Harvard Business Review case study explores the benefits of recognizing employee strengths during periods of change, particularly as an incoming leader weighing how to reorganize your team. "Some people aren't as skilled as others at inventing the future, but they excel at operating the existing business -- and a top team needs both types," says Jeff Jones, the president and CEO of H&R Block, who also adds new leaders brought in to drive transformation need months to get the right executive team in place.

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In observance of Juneteenth in the US, SmartBrief will not publish Wednesday, June 19.