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Warm-Up
- Labubus - Beanie Babies ?
- US Debt - wretched
- Good fishing this weekend
- Chip Trackers
Markets
- Bottom Fishing
- Consolidation, Digestion - waiting for the next catalyst
- Saudi SWF takes a hit
- Validations - to the MOON
- Casual Dining take a hit
Weekend Fishing
- Marlin, Roosterfish and Yellowfin Tuna
- 2 bucket list items
The CONFAB
- August 21 to August 23
- Theme: Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy
- Powell to speak Friday at 10am
- Historically:
---- 1989: Alan Greenspan became the first Fed Chair to formally participate in the program, establishing a tradition of Fed leadership using the event to signal policy direction (Volker stopped by in 1982)
--- 2010: Ben Bernanke used the symposium to signal QE2
--- 2014: Mario Draghi, ECB President, hinted at aggressive stimulus to combat Europe’s sluggish growth, influencing currency markets
--- 2020: Jerome Powell announced the Fed’s new “average inflation targeting” framework, allowing inflation to run above 2% temporarily to support employment growth
More Jackson Hole
- Many are saying this is the be the defining moment in Powell's Career
- Certainly the last one attending that he will be chair
- Odds are that he will look to continue the Fed independence and data dependency talk
US Debt
- The federal government's gross national debt topped $37 trillion for the first time in history last week, and the U.S. has room to add trillions of dollars more to the debt following the enactment of the One Big Beautiful Bill Act (OBBBA).
- OBBBA included a $5 trillion
Published on 1 week ago
