Macrocast by FTP & Markets Policy Partners
A pod at the intersection of financial markets and government policy
Macrocast by FTP & Markets Policy Partners
Midsummer Slump: Tech Pulls Back, Inflation Sticks, and Congress Moves on Housing
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Financial markets had a turbulent week, and the Macrocast team is sorting through the noise. Chip prices are climbing, semiconductor valuations look stretched, and investors are pulling back on AI-adjacent bets. Brendan explains what's driving the selloff and whether it's a correction or something more serious.
Fed Chair Kevin Warsh is keeping rates elevated while inflation stays sticky, and the newly announced Iran oil deal hasn't delivered the oil price relief markets expected. Abroad, Prime Minister Starmer's government faces a mounting fiscal crisis and Japan's yen has fallen to its weakest level in four decades. Ed closes with the latest from Capitol Hill: housing legislation is headed to the president's desk, with crypto regulation and the defense authorization bill next in line.
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