Anduril Scores $22B US Army Contract & Inflation Sours Rate Cut Hopes
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Why is Denmark interested in buying California?
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How is rising inflation affecting Fed rate cuts?
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, a TikTok war has broken out between prebiotic soda brands, and the only winner is gut health.
Then inflation heated up in January, which cooled off the Fed's future rate cut plans. It's Thursday, February 13th. Let's ride.
Get ready for a whole lot more Legolands in California. In response to President Trump's efforts to buy Greenland from Denmark, a satirical petition has been set up to raise money for Denmark to buy California. And as of yesterday, it's gained over 230,000 signatures. The goal, according to the petition's Swiss-French organizer, is to raise $1 trillion, give or take a few billion, to purchase California from Trump. and comment on the absurdity of the US wanting to buy Greenland. Toby, are the people ready for Disneyland to become Hans Christian Andersen Land?
I was just thinking California could use a little more Hygge in their life. But seriously, Neil, think of all the cross-cultural combinations that could occur. A California burrito with traditional curd herrings in it instead of french fries. A California club on s'more broad instead of multigrain. The possibilities are endless and honestly very hard to pronounce as well. Why stop there though? Let's toss in Florida while they're at it. Now a quick word from our sponsor, Wise Business. Neil, you ever get overwhelmed by all the paperwork involved in modern life?
What is Anduril's new contract with the US Army?
I went to the dentist the other day, five forms, and don't even get me started on tax season.
Now imagine you're an international business owner. It's like a never-ending game of where's Waldo with all the fees and paperwork.
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You can pay in 40-plus currencies with no surprise charges and no pointless paperwork. Save time, find Waldo, and use Wise. If you want a cleaner, simpler way to do business internationally, visit wise.com slash business. That's wise.com slash business. Like the fringe guy at a house party, inflation is sticking around a lot longer than anyone wants.
Why is Olipop leading the prebiotic soda market?
Yesterday's CPI reading for January came in hotter than expected with prices jumping 0.5% from December pushing the annual inflation rate up to 3% from 2.9% last month. The Fed has been doing everything it can to try and guide that number closer to its 2% target, but inflation is ignoring all road signs and driving the wrong way down a one-way road. It was the sector's most watched by consumers that led the charge, with price rises from groceries to gasoline, offsetting declines in clothing and furniture. Egg prices especially need to slow their ovular role. The egg shortage caused by a bird flu outbreak has pushed prices up 15.2% over the past month and 53% since last year. That contributed two-thirds of the total increase in grocery prices alone since December. Neil, that sound you're hearing is J-PAL and the Fed doing absolutely nothing, and you'll probably hear it for a while longer.
Due to stubborn prices, the market now expects the Fed to keep interest rates at their current levels until December, a huge shift from last year where traders penciled in four rate cuts in 2025. 30% believe there's a chance that there won't be any rate cut this year, up from 20% earlier this week. Needless to say, this was not a great inflation report.
No, this is like the end of a Marvel movie where you think everything's going fine and then you see the next villain for the next movie and our heroes have to battle it out over the next installation in the franchise. And that's exactly what's happening here with inflation. The biggest monthly increase in one and a half years. You're right. Jerome Powell is like, well...
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Chapters
8 chapters
1
Why is Denmark interested in buying California?
0:00–0:28
2
How is rising inflation affecting Fed rate cuts?
0:28–1:59
3
What is Anduril's new contract with the US Army?
1:59–2:41
4
Why is Olipop leading the prebiotic soda market?
2:41–4:41
5
How are YouTube viewing trends shifting?
4:41–5:16
6
What is the impact of GoFundMe's fundraising for LA fires?
5:16–5:42
7
How is Miami becoming a flower gateway?
5:42–6:19
8
What are Neal's favorite numbers this week?
6:19–32:36
Speakers
3 identifiedMore from Morning Brew Daily
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