We are experimenting with some new content here at PPS! In this installment, I’ll skim the finance news and find the important signals so you don’t have to. These stories actually move your money and your practice. Here’s the doctor’s-lens breakdown and what to do next.

P.S. Like the new content? Reply here and let us know so I can better tailor how I do things to give you the best value!

TL;DR (doctor-speed recap)

• PPI pop → vendor prices next; lock terms now. (Axios)
• Big cut chatter → be refi-ready; don’t assume cheap long rates. (The Wall Street Journal)
• Markets at highs (health care strong) → rebalance, don’t chase. (Reuters)
• BTC record → speculation, not strategy. (Reuters)

1) Wholesale inflation just spiked; expect suppliers to push prices up

Read: Axios “Inflation warning: Wholesale prices surge in July”

PPS take: Here comes the impact of tariffs…at least that’s what it seems like. The Producer Price Index jumped 0.9% in July, the biggest monthly rise in three years. This could mean producers are not absorbing the cost of tariffs on their raw materials.  And that pressure typically flows from wholesalers to practices—think implants, disposables, lab fees, service contracts. Protect your margins before the increases land on your invoice. (Axios)

Do this now:

• Lock 6-12 month pricing (or caps) with vendors; ask for inflation clauses that cut both ways.
• Batch orders through your GPO; bundle free consumables/maintenance with any capital buys.
• Update cash-pay price lists and message value/outcomes clearly.

2) A “jumbo” Fed cut is being floated; plan debt moves, but don’t bank on it

Read: WSJ “Bessent sees very good chance of a big September cut“

PPS take: As usual, talk from Washington is loud. But what does this really mean? Who knows? We know that Trump wants lower rates to bolster the economy (to offset impact of tariffs). But, as always, the size/timing of cuts is uncertain. The bottom line is that you need to have your refinance/expansion scenarios ready, with the realistic assumption that longer-term borrowing costs may not fall as much as headlines imply. (The Wall Street Journal)

Do this now:

• Need a loan soon? Price multiple lenders and keep files “rate-ready” (updated P&Ls, production, debt schedules).
• Be conservative; model both 0.25% and 0.50% rate drops on planned practice and mortgage debt.
• If you need capital anyway, prioritize debts that make sense at today’s rates and carry a good expected return on conservative models (this makes sense for practice related debt and real estate investments in general)

3) Stocks at/near record highs on cut hopes; health care led the rally

Read: Reuters “S&P 500, Nasdaq hit new closing highs on rate-cut hopes”

PPS take: Good news for your 401(k)/403(b). But why did they go up? All arbitrary and subjective things – the potential but unknown rate cuts we discussed above, rising valuations, and health care stocks. Remember, the stock market is fickle. Stick to your plan through ups and downs. And if it is time to rebalance, do it. Wins are great, over concentration risk that doesn’t align with your planned asset allocation isn’t. (Reuters)

Do this now:

• Trim back to targets (stocks/bonds and sector weights) and keep dollar-cost averaging.
• Don’t chase momentum; stick to your written IPS.

4) Bitcoin hit a record; a great headline, but still not a core investment plan

Read: Reuters “Bitcoin hits fresh record as Fed easing bets add tailwinds”

PPS take: New highs spark FOMO. Honestly, for me included. But remember this: crypto is high-volatility, narrative-driven. I’m not opposed to investing some “fun money” in it; I actually just invested $100 as an experiment. But, crypto doesn’t belong in practice cash balances or as a core investment in your 401(k)s, even if Trump makes it possible to hold it there. Oh, and since this temporary high, Bitcoin has been down… (Reuters)

Do this now:

• Cap any crypto to 1-5% max of investable assets and rebalance on schedule.
• Keep it away from near-term goals (home down payment, tuition, practice buy-in).