U.S. Shed Jobs in July, Lowering Expectations of a Fed Rate Hike
Summary
WSJ’s Alex Osaleff discusses a surprise U.S. job loss report that tempered Fed rate hike expectations, boosting stock markets. The episode covers political news, including Todd Blanche’s AG confirmation, a court halt on Trump’s White House ballroom, and renewed efforts to fire Fed Governor Lisa Cook. Additionally, it reports on a suspected Russian drone attack in Germany, drought in Puerto Rico, and wealthy New Yorkers’ legal and creative attempts to evade the city’s new pied-à-terre tax.
Topics discussed
Intro: ReliaQuest ad and top headlines overview
US labor market sheds 23,000 jobs; Fed rate hike debate
Markets rally on jobs data; S&P 500 hits record high
Blanche AG nomination, White House ballroom halt, Fed Cook firing
Fisher Investments ad and transition to international news
Russian drone attack in Germany and Puerto Rico water rationing
NYC pied-a-terre tax: lawsuits and wealthy resident pushback
Boeing 737 MAX cracks, Ford Mustang sedan, and Whatnot valuation
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