Americans Have Bad Vibes on Economy & UK Demands Apple’s Encrypted Data
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Why is the Super Bowl on a Sunday?
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Why are Americans pessimistic about the economy?
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, consumer sentiment is way down. Inflation expectations are way up. Are Americans souring on the economy?
Then the Super Bowl was kind of a blowout, but the ads, they were also honestly kind of boring too. It's Monday, February 10th. Let's ride.
Well, that was a spanking. The Eagles coasted by the Chiefs 40-22 to win the Super Bowl, avenge their loss to Kansas City two years ago, and prevent the Chiefs from winning a historic third straight championship. Just utter domination by the birds. But many of you won't be around to discuss the game and the commercials at the office today. 22.6 million people across the country plan to miss work the day after the Super Bowl, according to the Harris poll, which is up 40% from a year ago. Now, whether these numbers are accurate or not, who knows? But here's my question to the NFL. Instead of making everyone have a brutal Monday, why not just move the Super Bowl to a Saturday?
Well, Neil, Roger Goodell, the commissioner of the NFL, has answered that very question. It comes down to ratings. According to Goodell, the reason we haven't done it in the past is just from an audience standpoint. The audiences on Sunday night are so much larger. So you got to feed the ratings machine, even if it means giving 22 million Americans a case of a Super Bowl flu, which, by the way, Neil, should you be partying in Philadelphia right now or something? My heart is on Broad Street.
My body is on 6th Avenue.
I like that. Married to the game. We will discuss the big game in more depth later in the show. So stick around for that. Now, a word from our sponsor, Wise Business. Neil, during the pandemic, I went through a baking phase. But one time, I accidentally substituted salt for sugar.
That's not a baking phase, Toby. That's a, oh, shoot, called poison control phase.
Hey, I never did it again, but it did show me how one wrong move can lead to disastrous results. Same goes for managing international payments for your business.
If you mess up cookies, they might taste bad. But if you mess up payments, suddenly your suppliers are blowing up your phone, asking why they got paid half of what they expected.
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If you're ready to simplify your international payments, check out wise.com slash business. That's wise.com slash business. Trade war 2.0 between the U.S. and China has officially kicked off. Starting today, Chinese tariffs on $14 billion worth of American exports go into effect, one of Beijing's responses to President Trump's announcement of 10% tariffs on Chinese goods last week. And then last night, in a surprise move, Trump also said he plans to impose 25% tariffs on imports of steel and aluminum across the board to every country. The flurry of tariff announcements in the past month, whether they've been delayed or not, like in the case of Canada and Mexico, is starting to have a significant impact on Americans' views on the economy.
On Friday, reports showed that Americans across the political spectrum have become increasingly pessimistic over the economy and think higher inflation will rear its ugly head yet again. Here's the data. In a closely watched University of Michigan survey, consumer sentiment fell about 5% to its lowest reading since last July. So levels are lower now than they were before the election.
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Chapters
6 chapters
1
Why is the Super Bowl on a Sunday?
0:00–0:27
2
Why are Americans pessimistic about the economy?
0:27–6:25
3
Why does the UK want access to Apple's encrypted data?
6:25–16:35
4
How will NIH funding cuts affect medical research?
16:35–23:16
5
What were the best Super Bowl commercials?
23:16–28:19
6
What should you know for the week ahead?
28:19–28:40
Speakers
3 identifiedMore from Morning Brew Daily
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