Core Viewpoint - The Federal Reserve's current policy is considered too restrictive, with calls for more aggressive rate cuts to support economic growth and mitigate potential unemployment risks [2][3][28]. Economic Growth Outlook - Steven Myron expresses a more optimistic view on economic growth compared to some colleagues, citing factors such as tax incentives and deregulation that could enhance the economy's potential output [12][14]. - The expectation for economic growth in 2025 is tempered due to weaknesses observed in the first half of the year, although a rebound is anticipated in the latter half [16][17]. Rate Cut Expectations - Myron advocates for a series of 50 basis point cuts to quickly adjust the monetary policy towards a neutral stance, arguing that the current rates are 150 to 200 basis points too restrictive [27][30]. - The expectation is that as the Fed cuts rates, mortgage rates will also decrease, despite recent trends showing long-term rates rising [24][25]. Inflation and Tariffs - There is skepticism regarding the impact of tariffs on inflation, with Myron noting a lack of evidence for tariff-driven inflation increases [5][32]. - The Congressional Budget Office projects nearly $400 billion in annual tariff revenues, which could influence the supply-demand balance for loanable funds and lower neutral rates [19]. Population Growth and Labor Market - Significant changes in population growth due to immigration policies are highlighted as a critical factor affecting economic outcomes, with potential implications for labor market dynamics [6][8][20]. - Myron suggests that negative net migration could lead to a positive shock in the supply of shelter, impacting rent inflation positively [21][22].

Population Growth - Canada's immigration-driven population growth has come to a grinding halt [1]

Alarmist predictions of a “population bomb”, trendy in the 1960s, may have made demographers hesitant to predict the opposite: that humanity will soon be shrinking https://t.co/EYXHEwNne9 ...

Economic Projections - Congressional Budget Office (CBO) projects higher inflation and unemployment this year with slowing economic growth [1] - Population growth is anticipated to be significantly lower due to immigration changes, impacting jobs numbers [2][3][4] - Labor supply is falling dramatically, with population numbers expected to be several hundred thousand fewer each year over the next 10 years, and approximately 1 million fewer this year alone [4] Impact of Policies - The reconciliation bill is boosting the economy, while slowing immigration and tariffs are having a negative impact [3] - Tariffs are raising inflation and slowing down the economy, affecting both businesses and households [3] - Tariffs put in place since January 20th are projected to reduce the deficit by $4 trillion over the next 10 years, consisting of $33 trillion in revenue and $700 billion in averted debt costs [10][11] Uncertainty and Assumptions - There is a lot of uncertainty in the economy due to changing policies and tariffs [8] - CBO follows the administration's actions day by day and assumes that current policies will continue indefinitely [9] - CBO expects the Federal Reserve (Fed) to cut interest rates by 75 basis points between now and the end of January [14] - CBO updates its forecast a few times a year, and inflation since January has been a bit higher than expected [20]

Population Projections - The world's population may stop growing in the 2050s [1] - The world's population may never exceed 9 billion [1] Comparison with UN Projections - The UN currently foresees the world's population climbing until 2084, reaching 10.3 billion people [1]

U.S. population growth will slow to a crawl over the next few decades as fertility rates decline and net immigration shrinks because of stricter enforcement, the Congressional Budget Office said https://t.co/Et12WqCfnk ...

[Applause] wanted to share with us here today is um the significance of Katha in the world not just on the continent but in the world um the entire world regardless of where you're from whether it's Europe or Asia or the Americas is aging and fast. Except for Africa, except for subsaharan Africa, except for Nigeria, but most importantly, except for northern Nigeria. The median age in Germany is 47. In Japan is about 49. The median age in Nigeria is 18.In Kaza, it's even younger. What does that mean. It mean ...

Geopolitical Stability - Iraq's current state of calm is unprecedented since 2003 [1] Demographic Trends - Iraq's population is young and increases by approximately 1 million annually [1]

Iraq’s population has grown by 20m since America’s invasion https://t.co/1uRBa9TPiB ...

Growth & Market Opportunity - Nevada's population grew by 40% between 2004 and 2024[17] - Residents aged 65+ are projected to grow 4.1x faster than the total population in Clark County between 2025 and 2030[22] - The median household income for older consumers is expected to grow by 6.9% between 2025 and 2030[25] - The Las Vegas Locals gaming market is the second largest in the nation, generating $3.2 billion in gross gaming revenue in 2024[64] Red Rock Resorts Strengths - The company has 19 strategically distributed properties[85] - 75% of local carded slot revenue is generated by guests who visit 4+ times per month[88, 90] - Red Rock Resorts owns land holdings ready for development valued at over $950 million[102] - The company's Durango project is expected to generate over 3x return on investment[99] Financial Performance & Capital Allocation - 60% of EBITDA has been converted to operating free cash flow since reopening in 2Q 2020[159] - The company's net debt stands at $3.288723 billion with a net leverage of 3.96x as of Q2 2025[163] - Las Vegas operations achieved record-high EBITDA of $239.444 million in Q2 2025, with an adjusted EBITDA margin of 46.7%[171]