Target’s new CEO, Michael Fiddelke, took over on Monday and faces the challenging task of turning around the retailer that has suffered a prolonged period of declining sales and now faces ongoing unrest in its home city of Minneapolis. Target announced in August that Fiddelke, then-chief operating officer and 20-year Target veteran, would succeed Brian Cornell in leading the embattled retailer.Cornell had been at the helm for over a decade. In 2022, he made a three-year commitment to remain CEO. That year, ...

Core Viewpoint - The nomination of Kevin Warsh by President Trump to lead the Federal Reserve is seen as a strategic move to return the central bank to traditional monetary policies and regulatory norms, especially in light of his experience during the 2008 financial crisis [1][5][10]. Group 1: Warsh's Qualifications and Experience - Gary Cohn highlighted Warsh's instrumental role during the 2008 financial crisis, stating that he was the point person at the Fed during critical discussions involving bank stress and asset movements [4]. - Warsh's background includes serving as the youngest Fed governor in history at age 35, appointed by President George W. Bush, and he has held various roles in the private sector and academia since leaving the Fed in 2011 [13][14]. Group 2: Expected Policy Changes - Cohn expressed confidence that Warsh would focus the Federal Reserve on its core economic mission, steering it away from non-financial issues and potentially implementing one to two interest rate cuts this year [7]. - Warsh is expected to reverse the Fed's large balance sheet policies, which involved significant purchases of securities, aligning with traditionalist views on regulation that support market growth while ensuring consumer access to capital [7]. Group 3: Political Context and Confirmation - Trump's announcement of Warsh's nomination ended months of speculation and reflects his long-standing relationship with Warsh, whom he believes will be among the most successful Fed chairmen in history [10][11]. - Warsh's confirmation by the Senate is required before he can assume the influential role in U.S. economic policymaking [12].

Core Insights - Costco has launched an exclusive Nike collaboration sneaker, the Nike SB Dunk Low x Kirkland Signature Exclusive, which has generated significant excitement among customers and the resale market [1][11] - The sneaker was released at select locations in New York, Oregon, California, and Washington for a retail price of $134.99 [1] - The resale value of the sneaker has surged to approximately 200% or more, with prices ranging from $400 to $1,000 on platforms like StockX, eBay, and GOAT [2] Product Details - The sneakers feature Kirkland emblems and are designed in a gray colorway, resembling sweatshirt material, with an inner lining that mimics the texture of worn sweaters [5] - The design includes a label on the reverse side of the tongue that resembles Costco's in-store price tags, indicating a retail price of $135.00, which may suggest low stock availability [7] - The insole displays a large Kirkland logo, and the reverse side features an image of Costco's hot dogs with a price tag of $1.50 [9] Market Response - Over the weekend, 660 pairs of the sneakers were resold on StockX, with the highest sale reaching $600 [10] - The sudden release follows a previous leak of the collaboration, which had left fans speculating about various aspects of the product [11]

Core Points - New work requirements for the Supplemental Nutrition Assistance Program (SNAP) are being implemented across more states, mandating adults aged 18 to 64 without dependent children to work, participate in training programs, or volunteer at least 80 hours per month to qualify for benefits [1] - The changes expand work rules to previously exempt groups, including adults aged 55 to 64 and parents with children aged 14 or older, while eliminating exemptions for veterans, homeless individuals, and certain young adults [2] - The Congressional Budget Office (CBO) estimates that these provisions will reduce SNAP participation by approximately 2.4 million people over the next decade, with a significant portion being able-bodied adults aged 18 to 64 without dependent children [5] Program Changes - The law introduces broader changes to SNAP, affecting benefit levels and limiting future increases, which may lead to smaller benefit amounts for some eligible recipients over time [6] - Implementation of the new requirements varies by state, with some states like Texas already enforcing them, potentially leading to recipients exhausting their three-month benefit window [8] - Areas with high unemployment rates may qualify for waivers, allowing flexibility in the enforcement of work requirements [9] Administrative Implications - The CBO has indicated that additional changes in the law could lead states to modify or reduce their SNAP programs, as states will need to cover a larger share of administrative and benefit costs under certain conditions [11] - Currently, nearly 42 million Americans receive SNAP benefits, with over 80% of households having gross incomes at or below the federal poverty line [12]

Core Insights - California is experiencing a chronic housing shortage, making it one of the least affordable housing markets in the U.S. for middle-income workers [1][8] - The structural mismatch between housing demand and supply is a significant factor driving prices beyond the reach of many workers [2][3] - High construction costs, lengthy permitting processes, and regulatory hurdles are contributing to the limited supply of new housing, particularly affordable units [3][8] Housing Inventory Trends - Active listings in California fell sharply from 2020 to 2022, reaching historically low levels, although there has been a slow recovery in the following two years [5] - By December 2025, California had approximately 56,000 active listings, an 11% increase year-over-year, but still below the pre-pandemic range of 70,000 to 90,000 listings [6][8] - Inventory peaked at nearly 78,000 listings in July 2025, indicating some normalization in the market, yet it has not returned to a balanced state [8] Affordability Challenges - The median-earning household in California spends a significantly larger share of their income on housing compared to most other states, highlighting the affordability crisis [8] - In cities like Los Angeles and San Jose, typical buyers face the challenge of dedicating a higher percentage of their income to mortgage payments, making homeownership unattainable for many middle-income workers [10] - As of December 2025, there were about 17,000 active million-dollar listings statewide, reflecting a shift in price distribution and indicating that higher-priced homes are becoming more common [11]

Core Insights - The new car market is experiencing elevated prices, with the average transaction price reaching $48,422 in April 2025, indicating a slight increase compared to the previous year [1] - There is a significant price gap between new and used cars, with new cars being over 29% more expensive than 3-year-old used cars compared to April 2020 [2] - The shift in consumer behavior is evident, as nearly 19.2% of new car buyers are opting for luxury brands, a notable increase from 11-12% pre-pandemic [6] Pricing Dynamics - The Manufacturer's Suggested Retail Price (MSRP) averaged around $50,408 in April 2025, suggesting that dealers are offering discounts to move inventory [3] - Factors contributing to the rising costs of new cars include government compliance, fuel economy standards, safety equipment, and advanced technologies [8] - Tariffs on overseas parts and vehicles are also impacting the pricing of certain models [8] Consumer Behavior - The high prices of new cars are pushing consumers towards used cars or causing them to retain their current vehicles [5] - There is a perception of a technology plateau in new cars, as many features are becoming standard across both new and slightly used vehicles, potentially reducing the incentive to purchase new [9] - Automakers are recognizing the need to find ways to lower prices, as future models may not offer significantly different technology compared to older models [11][12]

Core Insights - Enrollment in Obamacare plans is projected to decline by over 1 million Americans in 2026 due to rising monthly premiums and the expiration of enhanced federal subsidies that were in place during the COVID-19 pandemic [1] Enrollment Data - The Centers for Medicare and Medicaid Services (CMS) reported that 23 million consumers signed up for individual health insurance coverage through the Marketplaces during the 2026 open enrollment period, with 15.8 million using HealthCare.gov and 7.2 million using state-based exchanges [2] - Enrollment as of mid-January 2026 was down approximately 1.2 million compared to the 24.2 million enrolled at the same time last year [4] Premium Costs - Average premium costs for subsidized Obamacare enrollees are expected to rise to $1,904 in 2026 from $888, according to KFF data [3] - KFF's analysis indicated that premium payments are anticipated to more than double on average in 2026, with about 25% of enrollees stating they would forgo health insurance if premiums doubled as expected [10] Effectuation and Disenrollment - The enrollment data includes automatic renewals and plan selections, which may not reflect actual enrollments as some consumers may choose not to pay for their plans [6] - Analysts predict that total enrollment in Obamacare plans will decrease as consumers react to higher premiums, potentially leading to significant disenrollment activity during the 90-day grace period [13]

Core Viewpoint - Kevin Warsh is positioned as a transformative figure for the Federal Reserve, with a focus on reducing government spending and money printing to control inflation and interest rates [2][3][4]. Group 1: Economic Team and Leadership - President Trump has appointed Kevin Warsh to lead the Federal Reserve, supported by Kevin Hassett at the National Economic Council and Scott Bessent at the Treasury, forming a strong economic team [1]. - Warsh's previous experience at the Fed equips him with the knowledge to navigate economic challenges and implement necessary changes [2][5]. Group 2: Economic Philosophy - Warsh believes that rapid economic growth and employment do not inherently cause inflation; rather, it is excess government spending and money printing that lead to inflation and high interest rates [2][3]. - He advocates for a reduction in the Federal Reserve's balance sheet and a focus on fiscal responsibility, suggesting that this approach can lead to lower interest rates [3]. Group 3: Policy Focus - Warsh aims to restore the Federal Reserve's independence, moving away from social and political issues such as climate change and diversity, which he views as distractions from the Fed's core mission [4][5]. - He intends to enhance compliance regarding insider trading, addressing issues that were overlooked by the previous leadership [5]. Group 4: Future Outlook - Warsh is seen as a catalyst for a new Golden Age in the American economy, with expectations that his leadership will foster a more effective Federal Reserve [6].

Group 1 - President Trump plans to nominate economist Brett Matsumoto to head the Bureau of Labor Statistics (BLS), which has been without a commissioner since August 1 [1][4] - Matsumoto has been an economist at the BLS since 2015 and has a Ph.D. in economics from the University of North Carolina at Chapel Hill [2] - The nomination of Matsumoto, a long-serving official without a deeply partisan record, is seen as a relief to economists and investors concerned about political interference at the BLS [4] Group 2 - Trump's removal of the previous commissioner, Erika McEntarfer, followed large downward revisions to job growth estimates, raising concerns about the potential for biased statistics [5] - The White House previously nominated E.J. Antoni, a right-leaning economist, but withdrew the nomination due to widespread criticism from economists [6] - The BLS, with over 2,000 staff, plays a crucial role in collecting and publishing key economic statistics, including unemployment and inflation rates, which are vital for investors and Federal Reserve officials [8] Group 3 - Congressional funding for the BLS has stagnated, leading to a shrinking inflation-adjusted budget and staffing shortages due to a federal hiring freeze [9] - Economists have criticized the BLS's statistical methods for filling in missing price data from last year's government shutdown, suggesting that inaccurate inflation readings may persist [10] - Matsumoto's confirmation would require Senate approval, and the BLS has been led by acting commissioner William Wiatrowski since August [11]

Core Viewpoint - President Donald Trump has nominated Kevin Warsh to be the next chairman of the Federal Reserve, following a lengthy deliberation process, with the current chairman Jerome Powell's term set to expire in May 2022 [1]. Group 1: Kevin Warsh's Background - Warsh served as a member of the Fed's Board of Governors from 2006 to 2011 and was the youngest Fed governor in history [2]. - He has experience in the private sector at JPMorgan and served in President George W. Bush's administration prior to his first Fed appointment [2]. - Warsh has held roles at the Hoover Institution, Stanford's Graduate School of Business, and the board of UPS, and has been an economic adviser to the Congressional Budget Office [4]. Group 2: Industry Reactions - Bank of America CEO Brian Moynihan expressed confidence in Warsh's background and experience, wishing him well in the confirmation process [7]. - UPS CEO Carol Tomé highlighted Warsh's financial markets knowledge and crisis management expertise, celebrating his nomination [7]. - U.S. Chamber of Commerce CEO Suzanne Clark noted Warsh's focus on economic growth and stable prices, looking forward to his confirmation [8]. - Investment Company Institute CEO Eric Pan commended Warsh's experience in monetary policy and financial regulation, emphasizing his understanding of the Federal Reserve's dual mandate [8]. - American Bankers Association CEO Rob Nichols praised Warsh as an experienced policymaker with a deep understanding of monetary policy and the role of banks in the economy [11]. - Independent Community Bankers of America CEO Rebeca Romero Rainey congratulated Warsh, noting his understanding of community banks' role in the economy [12].