As Taylor Swift's popularity drives up local prices, economists are observing the 'Taylor Swift effect' on inflation, particularly in Scotland, where hotel prices surge during her concerts. While inflation remains steady at 2%, concerns linger about mortgage affordability as the Bank of England maintains a 5.25% base rate, although cuts are anticipated soon. In the U.S., the Federal Reserve is expected to hold interest rates steady but may lower them in September due to cooling inflation and a moderating job market, with the unemployment rate expected to stay at 4.1%. Recent data suggests a softening job market, with nonfarm payrolls predicted to advance at a more moderate pace. This week is critical for both the crypto market and broader financial sectors, with key events including the Fed's interest rate decision and job data releases that could influence market sentiment. The outcome of these events will be pivotal in shaping economic expectations and investor confidence.