Miran Touts Fed Independence at Confirmation Hearing | Bloomberg Businessweek Daily 9/4/2025

U.S. Economy & Labor Market - Applications for U.S unemployment benefits rose to the highest since June, indicating a cooling labor market [4][8] - Private sector payrolls increased by 54,000, falling short of estimates, ahead of the jobs report [4][13] - The service side of the U.S sector experienced expansion in August at the fastest pace in six months [8] Federal Reserve & Monetary Policy - Discussions around the independence of the Federal Reserve were dominant, especially concerning potential conflicts of interest [9][20][21] - The market is anticipating potential rate cuts by the FED, influenced by weaker employment data [13][74] - Concerns exist regarding Lisa Cook's position at the FED and the potential for political influence [14] Retail & Consumer Behavior - Salesforce shares are down 18% due to profit missing expectations, despite a double-digit rise in quarterly revenue [5] - American Eagle Outfitters shares are up 32% due to expected sales boost from marketing campaigns [5] - A firm's average transaction size is just under $300, indicating use for considered purchases [50] Buy Now, Pay Later (BNPL) Industry - A firm reports accelerating demand and user base growth, with metrics stronger than the previous year [46][48] - A firm emphasizes transparency with no compounding interest or late fees, with 98% of consumers never being late [52][54][55] - BNPL accounts for just under 1% of U.S retail, with significant growth potential compared to markets like Australia [70] Media & Entertainment Industry - John Malone, Chairman of Liberty Media, discussed risk avoidance and diversification strategies [32] - The cable industry is seen as having "cooked its own goose" by not adapting to streaming options [36] - Live sports are considered a key element in maintaining cable bundling [37] Health Savings Accounts (HSA) & Healthcare - Health Equity administers flexible spending accounts and boosted its adjusted profit forecast for the full year [80] - HSAs are highlighted as tax-advantaged savings vehicles, with a maximum contribution of $8,500 a year [81][82] - New legislation expands HSA eligibility to a new class of Americans, specifically those in ACA marketplace bronze plans [88] Sports Business - The New York Giants are selling a minority stake, valuing the team at $10 billion [104] - Limited partners in sports teams have limited say in front office and business decisions [106] - The business of sports is booming, as evidenced by team valuations and event attendance [110]