Update 903 — Debate Over AI Bubble:Could Boom in Valuations End in Tears? AI has been all over the news recently, especially in the business section. All of the Magnificent 7 companies, the largest publicly traded companies in America, have some level of investment in AI. The sector has pushed tech and, in fact, all …
Update 899 — Shutdown in Stalemate;Trump Resorts to Partisan Scare Tactics The government funding stalemate for the fiscal year starting October 1 resulted in a shutdown this week with no end in sight. Meanwhile, the Trump administration took a partisan turn, canceling infrastructure funding in blue cities/states and using agency web pages and email autoreplies …
Update 885 – Fed Not Ready to Cut;Dissents from Two Chair Aspirants The Federal Reserve hit pause, as expected, on interest rates at the conclusion of its July FOMC meeting this afternoon, with two Trump-appointed Fed Governors – Waller and Bowman – dissenting. Such a dissent is rare. Today marks the first time two FOMC …
Update 877 – Rulings and OBBB Process,Mamdani Win, Prices, Entitlement Reports The Senate parliamentarian continued her review of the GOP’s reconciliation bill (OBBB) this week, shooting down Medicaid cuts crucial to the fiscal balance of the bill. This straw may have broken the camel’s back, as calls to overrule or dismiss the Senate’s referee following …
Update 875 – OBBB Senate Obstacles,Fed Freeze, Genius Act Vote Lead Week With the Senate Finance Committee’s text for the GOP One Big Beautiful Bill (OBBB) released this week, we now have a full picture of the Senate’s approach to reconciliation. Though expected to be a more moderate version of the House bill that passed …
Update 871 – Tariffs’ Court Battles;Musk Mission Ends in Fiscal Failure Trump’s trade agenda hit a major but tentative roadblock this week as two courts halted many of his tariffs, ruling his use of emergency powers “unlawful.” As the appeals process unfolds, the administration is able to maintain its tariff rates, but its long-term survival …
Update 869 – Treasuries Downgraded:Causes, Costs of Moody’s Rating Cut The United States’ debt rating was downgraded from Aaa to Aa1 by Moody’s Ratings on Friday. The move makes Moody’s the final of the three major credit rating agencies to move the nation’s credit rating down from triple A to one notch below perfect. Moody’s …
