August 28 (Monday)

Latest Morning Briefing Executive Summary: The Chairman’s Speech
Today, we examine Fed Chair Jerome Powell’s Jackson Hole speech on Friday. The tone was more hawkish than we expected, with Powell saying that the Fed wouldn’t hesitate to raise interest rates further if needed to bring inflation back down to the Fed’s 2.0% target but failing to say what it would take for the Fed to lower interest rates given that inflation has been moderating. … We also examine 12 sets of economic data that Powell monitors, sharing what he said their recent readings indicate and our observations on each. … And Dr. Ed reviews “Painkiller” (+).
(subscribers’ link)

YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on August 27.

Markets
Chinese Stocks Rally After Beijing Moves to Boost Market | W
Markets Show China Needs a Stimulus ‘Bazooka’ to Woo Investors | B
China’s Market Reforms Aim to Lure Investors to Stocks and Bonds. They May Not Be Enough. | BR

Global
Post-pandemic, world facing gloomy stew of debt, trade wars and poor productivity | R

Central banks
Why Central Bankers Are Unsure Whether They’ve Raised Rates Enough | W
Powell signals no retreat, no surrender | R
ECB Rates: Lagarde Policy Silence Keeps ECB Debate Raging Before Inflation Data | B

US I
America’s corporate giants are getting harder to topple | E
Increasing Immigration Could Help Solve Labor Crisis | C
Rising Gasoline Prices Hit Inflation-Weary Americans | W
Is the new retirement number $4.3 million? | USA Today

US II
High Interest Rates are Hitting Federal Debt. A Day of Reckoning Is Coming. | BR
Student Loans Are Emerging From Deep Freeze, and Borrowers Are Confused | W
The World Is Contemplating a Second Trump Administration | W

China
Why China’s economy won’t be fixed | E
Opinion | The Real Problem With China’s Economy: Xi Jinping’s Government | N

India
Column: India’s massive renewables deployment helps meet record power demand | R

Industries & companies
Consumer: Buy SharkNinja Stock. It Has Been a Consistent and Successful Innovator. | BR
Financials: The Big Reason Your Insurance Is Getting More Expensive | BR
Financials: Americans Are Dropping Their Home Insurance, Claiming the Odds of Disaster Don’t Justify the Cost | W
Manufacturing: Why Spending Trillions to Revive Manufacturing Invites Inflation | BR
Tech: This Company Is Nvidia’s AI Chip Partner—and Its Stock Is Soaring | W
Tech: Apple iPhone 14 Pro Max tops smartphone shipments globally, Omdia says | C
 
Corporate finance
Instacart IPO Isn’t Offering Empty Calories | W

Artificial Intelligence
AI could fortify big business, not upend it | E