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]

As we monitor this RFK hearing, we also are monitoring another hearing that's happening in Washington today. That is President Trump's nominee for Federal Reserve Governor Steven Myin, his CEA chair testifying before Senate Banking. Our Steve Leeman has been monitoring that one and has some of the highlights.Steve. >> Yeah, Sarah. This one is about as interesting.Fed Governor nominee Steven Myron getting a grilling from ranking member Elizabeth Warren who in questioning tried to establish Myron's independen ...

You know, the independence of the Fed is critical for everything we do. And uh, you know, there are things that are going on that make people worried, but I still believe that we have a independent Fed. People that are appointed will behave that way and act in a political fashion.So, I think no matter what the Fed will maintain its independence. >> Um, you are one of the people who has been named as a potential candidate for uh, Federal Reserve Chair. Have you met with Treasury Secretary Scott Besson.>> I I ...

Fed Independence & Political Influence - The financial industry suggests the Federal Reserve is not independent and its appointees are partisan, similar to other government branches [2][3][4][14][17] - The industry questions whether a sitting president should have the authority to remove a Fed governor if their views are misaligned with the electorate's wishes [4] - The industry proposes revisiting the notion of the Fed's independence, considering that many of its functions could be better handled by the Treasury or other entities [17] - The industry acknowledges the 14-year terms for Fed governors are designed to insulate them from political cycles, promoting institutional resilience [17][18][21] Monetary Policy & Data Reliability - The financial sector expresses concern over the Fed's monetary policy decisions, which are based on potentially inaccurate data [6][7][11] - The industry suggests that capital markets and free markets are more effective at achieving price stability than the Fed [8] - The industry highlights the potential for real-time pricing oracles, utilizing blockchain-published economic data, to improve market efficiency [11][12][13] Fed's Role & Responsibilities - The industry questions whether the Fed should continue to act as a lender of last resort, suggesting the Treasury could perform this function more effectively [8] - The industry generally agrees that the Fed can continue its banking supervision and regulation, as well as its role as a payment system and clearing house [9][10] - The industry emphasizes the importance of considering the long-term costs of capital and the US's ability to service its debt when making monetary policy decisions [19][20]

LISA COOK'S HEARING ENDS WITH NO RULING. A JUDGE IN WASHINGTON GIVES LEGAL TEAMS ON BOTH SIDES MORE TIME TO MAKE THEIR CASE OVER PRESIDENT TRUMP'S EFFORT TO FIRE THE FEDERAL RESERVE GOVERNOR. WE WILL BRING YOU TO THE COURTHOUSE IN WASHINGTON FOR A LIVE REPORT FROM TYLER KENDALL WHERE THINGS JUST WRAPPED UP WITH INSIGHTS FROM MICHAEL AND NATASHA SERIN FROM THE YALE BUDGET LAB.OUR PANEL IS IN PLACE. JEANNE SHEEHAN ZAINO AND RICK DAVIS ARE WITH US. WE START ON WALL STREET.CHARLIE PELLETT HAS THE LATEST ON THE ...

NBC News justice reporter Ryan Riley is following this morning's court hearing. Also with us, chief economic correspondent for Axios, Neil Irwin, and former federal prosecutor Ankush Kadori. So Ryan, the hearing is underway.Have there been any developments yet. It is our our colleague Julia Jester uh is in the courthouse now reporting back and what the judge is essentially saying Judge Cobb is laying out you know the importance of uh this case and sort of laying out a schedule for how this uh will proceed. ...

Lisa Cook, a member of the Federal Reserve Board, filed suit against President Trump, the Federal Reserve itself, and the Fed chairman Jerome Powell, alleging that Trump's purported firing of Lisa Cook was illegal. This is 2 days after President Trump went to social media to fire Lisa Cook, uh alleging that she had filed a fraudulent mortgage application and that was sufficient cause to remove her uh before the expiration of her 14-year term. The president has the authority to fire those who are not aligned ...

She is former Bridgewwater chief investment strategist. She is now a senior fellow at the Council on Foreign Relations. Rebecca, there's so many angles that this is fast money. We're trying to bring it back to the investor. And what if anything to Dan's point, maybe this doesn't mean squat. What's your take? There's so many things that have to line up before the Fed actually loses its independence that that the Federal Reserve has a majority of Trump appointees or Trump friendly uh policy makers who cut rat ...

I'm joined now by someone who intimately understands the Fed was there for ten years and most recently was the Fed vice chair under Jay Powell, who is still now the chair. And that's, of course, Lael Brainard. Lael, thank you so much for joining us this morning.As we see this standoff between President Trump and Governor Cook, we have yet to hear from the Fed itself. What kind of response do you think we can expect from the institution. Well, I think the Federal Reserve is in an incredibly difficult positio ...

we have responsibilities responsibilities as as uh professionals inside the Federal Reserve. I'm sure she'll handle matters as she needs to handle them. >> Um, is that a serious thing to do to write primary residence on two different mortgages.>> Let me say this, it's definitely part of the application. >> Yeah. >> But I also would say if we if you think about how huge that application is, maybe we could start thinking about how do we make it less paperwork intensive.uh as we go forward, do you worry at all ...