The Fed Cuts Rates Again & Can Oracle Deliver for Investors on AI?
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What are the implications of the Fed's latest rate cut?
Good morning for Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, the Federal Reserve is at war with itself.
And the government wants to put gyms inside of airports. It's Thursday, December 11th. Let's ride.
Good morning and happy Thursday. Anyone who spends time around kids knows the 6-7 trend has gotten way out of hand, so much so that In-N-Out Burger has retired the number from its ticket ordering system. In response to throngs of kids camping out at the burger chain and waiting for order number 67 to be called, then going animal style when it is, In-N-Out confirmed that last month it got rid of 67 entirely, so if you order after ticket number 66, you'll be number 68. Then the person after you will be ticket 70 because apparently people can't handle the number 69 either. Toby, the youth, they broke in and out.
At this point, just ditch the entire 60s. They are cursed.
What dissent is present within the Federal Reserve's decision-making?
Now, this is interesting, though, because Wendy's is taking a different approach to dealing with 6'7". they are leaning in and selling 67-cent Frosties. So two different schools of thought here. If the ultimate goal is to kill the meme, I think Wendy's is doing a better job of that because you know what's not cool? Brands. Brands getting in on what the cool kids are saying. The fact that In-N-Out is not naming 6-7 going forward, I think it's like a Voldemort effect where you're giving it more power. So I do think if you want to... Never hear the word six, seven again and have kids going crazy. You got to start doing brand promotions around it.
That's the first time I've heard that. The Voldemort effect. It's basically the opposite of the Streisand effect.
Get Streisand and Voldemort in the same room. That is a dinner party that I want to go to.
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A house divided cannot stand, but a Fed divided, it can still cut rates. To the surprise of no one, the Fed cut rates another 25 basis points at their meeting yesterday, marking three straight reductions to bring rates to their lowest level since 2022. But under the surface, chaos reigns. A rare triple descent, the first since 2019, showed there's still an internal tug of war between over the risks posed by higher inflation and lower employment.
How is Oracle performing in the AI market?
Not only were there three dissents, but there were three dissents on both sides, with one Trump aligned official voting for a jumbo size half point cut in order to spur on the labor market, while two others voted for no change in rates at all in order to stave off inflation. After the announcement, all eyes turned to Fed Chair Jerome Powell's press conference, his last before Trump announces his successor. After his customary good afternoon, Powell turned some heads by saying recent employment data may have overstated by about 60,000 jobs a month, given that payroll growth has been averaging about 40,000 jobs per month since April. Uh-oh, that means employment growth has been non-existent, which explains why the Fed felt comfortable cutting rates again despite persistent inflation.
As for what's next, we got some grade A Fed speak to pour through. The central bank said that they were considering the, quote, extent in timing of additional adjustments to the target rates for the federal funds, which many took as a sign that the Fed is content to see how the economy evolves before committing to any additional cuts.
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Chapters
8 chapters
1
What are the implications of the Fed's latest rate cut?
0:02–1:01
2
What dissent is present within the Federal Reserve's decision-making?
1:01–3:00
3
How is Oracle performing in the AI market?
3:00–5:35
4
What concerns do investors have about Oracle's revenue?
5:35–8:47
5
What innovative ideas are being proposed for airport improvements?
8:47–11:53
6
How do political disagreements affect golfers' performance?
11:53–21:54
7
What recent study reveals about brain development and adolescence?
21:54–28:05
8
What are the final thoughts on the episode's main topics?
28:05–28:14
Speakers
2 identifiedMore from Morning Brew Daily
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