Hello everyone. We've got a lot to discuss today. Bitcoin rate of return is a brand new metric that I think everyone's going to start using very soon. The Fed decided to not cut interest rates once again yesterday and we're going to sit down with the CEO of the world's first AI investment bank to understand how they plan to conquer Wall Street. We're live today from the desk of Anthony Pompiano. [Music] Now there are a few different ways that you can measure results of an investment. You can use internal ra ...

Donald Trump's August 1st deadline is here. Well, almost. Tomorrow is the day new tariffs are set to take effect.The president's 90-day pause gave importers a chance to stockpile at a lower tariff rate, and many companies planned ahead, but some brands are already announcing price hikes. Joining us now, former chair of the Council of Economic Adviserss under President Biden, Jared Bernstein, and director of economic policy research at Veta Partners, Henrietta Trees. And Henrietta, starting with you, we know ...

I remember when I was here about 90 days ago, and I told you he's going to walk these back. The the the the tariffs that he announced on Liberation Day would have crushed the American economy. They would've been bad for consumers, ultimately bad for Trump's political standing.Wildly unpopular around the Hill. And that we should expect him to walk it back. And we have seen a steady walk back of those to the point where he started getting embarrassed.Right. The so-called taco trade ever. You know, Trump's alw ...

Joining me now as well is Mark Xandandy, chief economist at Moody's Analytics. Mark, there there's a narrative out there that the administration is fond of saying tariffs are not inflationary, just a one-time price bump up. Uh but we've got this new data.What's the data showing about tariffs thus far. How long is it going to take before we get a more definitive answer. >> Inflation prices are rising.It's been slow coming for lots of different reasons. the front loing of imports, the fact that the tariffs ar ...

Inflation & Monetary Policy - Potential for the Federal Reserve to reduce rates if inflation decreases and the economy performs well [1] - Tariffs are one of many forces at work in the economy, including remilitarization, fiscal deficits, and demographics, which may drive slightly higher inflation [2] - Focus should be on growth, which is more important than minor fluctuations in inflation [2] Tariffs & Trade - Tariffs have been greatly moderated, with 15% applying to half of imports, which is manageable in many cases [3] - With imports around $4 trillion, an average tariff of 7-8% equates to $300 billion annually on a $30 trillion economy, which may have some effect [3] - The impact of tariffs is still uncertain, with some being passed on and some not, and more effects may be seen in the future [4] - Current tariffs are more moderate, thoughtful, and carefully implemented, potentially helping some companies export and encouraging manufacturing to return to the US [7] Fiscal Policy & Deficit - The US deficit is $2 trillion, and concerns exist about adding $2.5-3 trillion, leading to an increase from $30 trillion to $50 trillion in debt over 10 years [8] - The extraordinary additions to the deficit each year are more concerning than the $3 trillion figure [9] - The current tax bill is beneficial, but the deficit needs to be addressed, as 6.5-7% deficits cannot continue indefinitely [9] - There are too many tax breaks that should be eliminated, and multiyear budgeting could be implemented [10][11] Market & Risk Appetite - Risk appetite in the market is a little high, but not critically so [12] - $10 trillion was borrowed and spent in the last five years, likely globally, along with large amounts of quantitative easing (QE), which is still affecting the system and may be leading to higher asset prices [13] - High asset prices and low credit spreads suggest a longer way to fall, making the market cautious about valuations [13][14]

Mozambique’s central bank cut its benchmark rate for a record 10th consecutive time, as the gas-rich nation emerges from a technical recession and inflation remains well below the five-year average https://t.co/uvy2weCAbT ...

Market Trends & Trade - US imposed a deadline for trade deals, South Korea secured a deal with a 15% levy, avoiding a higher 25% rate, while India failed to reach an agreement and will face a 25% levy on its imports [2][4] - President Trump imposed a 50% tariff on copper imports, causing prices to fall over 20%, marking the metal's largest single-day decline since 1989 [4][5] Company Earnings & Performance - Microsoft is set to become the second company to reach a $4 trillion market capitalization, with its stock soaring over 8% after reporting better-than-expected quarterly earnings and a 39% rise in sales for its Azure cloud computing unit [16][17] - Meta's Q2 results outperformed expectations, with revenue growing 22%, and the company offered a better-than-expected outlook for Q3, driven by AI investments and growth in the digital advertising market [19][20] - Amazon shares are up over 3% pre-market, with analysts expecting revenue to grow by 95% year-on-year to $1622 billion, focusing on the AI-powered growth of Amazon Web Services Cloud [8][9] - Ford reported Q2 earnings better than expected but took an $800 million hit due to tariffs, which could amount to $2 billion for the whole of 2025 [26] - Rolls-Royce reported a 50% increase in underlying operating profit in the first half, jumping to £173 billion (approximately $229 billion) from £115 billion a year earlier, with its market value almost doubling in 2025 [44][45] - Carvana reported a six-fold increase in net income and record quarterly sales of used vehicles, with shares jumping as much as 17% in after-hours trading [41][42] AI & Technology - Apple faces challenges including an estimated $20 billion a year hit to its services business due to the Justice Department's antitrust lawsuit against Google and struggles with its AI development [7] - Akre ASA, a Norwegian Industrial Conglomerate, saw its shares pop by more than 10% after announcing a partnership with OpenAI and Nscale Global Holdings to build a major AI facility in Northern Norway, investing $1 billion in phase one [37][38][39] Monetary Policy & Economy - The Fed kept rates steady for the fifth straight time, with the core PCE price index expected at 03%, while inflation stands at 27%, still above the Fed's 2% target [46][47]

Shake Shack shares slumped 11% in early New York trading after the company forecast third-quarter revenue that fell below expectations, pointing to inflation and cautious diners https://t.co/uNGGgncOyL ...

And joining us now is the president of the committee for a responsible federal budget, Maya McInness. Maya, this morning, the attacks from the president keep coming, calling Fed Chair Jerome Powell too late, too angry, too stupid, and too political given today's inflation report. How do you see the president's demands and the Fed's decision we saw yesterday.Right. So, uh, the tenor, the tone, and the words of the president that he's using in those attacks are highly unfortunate. One of one of the great thin ...

Fed’s Favorite Inflation Meter Rose More Than Expected In Junehttps://t.co/TkhV6rGggA https://t.co/CmxHEyFwcl ...