| No. 513
In this summer edition of the Monthly Report, we continue to focus on how the agreement between the US and Iran is reshaping the global economic outlook, although its fragile nature keeps uncertainty high. In the international arena, we analyse Kevin Warsh's appointment as Chair of the Federal Reserve and how European inflation has responded to the energy shock, with a clear direct impact but still contained indirect effects. We also examine the reform and investment needs identified in the European Semester in light of the end of the NGEU funds. In Spain, where the economy still has strengths to continue growing at a dynamic pace, we take a closer look at the unemployment rate, and we use high-frequency data to examine dining consumption habits and the effects of climate change on the loyalty of international tourists.
