Morning Wire Anti-Israel Riots & High Inflation Spending | 10.19.23
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Oct 19, 2023 Protests and riots flare in the Middle East as President Biden visits, spotlighting tensions and scrutiny over his ambassadorial nominee to Israel. The discussions reveal the complexities of U.S.-Israel relations amidst escalating violence. Meanwhile, inflation continues to impact American spending, with surprising hiring and retail sales trends emerging. Experts weigh in on economic indicators, shedding light on disinflation versus deflation and how consumers are navigating these turbulent economic waters.
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Middle East Unrest
- Anti-Israel and anti-US riots erupted across the Middle East after a hospital explosion in Gaza.
- Initial reports blamed Israel, but evidence suggests a misfired rocket from Gaza caused the blast.
Ambassador Nomination Controversy
- Jack Lew, Biden's nominee for ambassador to Israel, faces scrutiny for his role in the 2015 Iran nuclear deal.
- Critics argue the deal empowered Iran, a threat to Israel, while supporters emphasize Lew's experience.
Economic Paradox
- Despite high inflation, consumer spending and hiring surged in recent months.
- Increased spending reflects higher prices, not increased consumption, potentially indicating financial strain.