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Morning Brew Daily
Stock Market Crushed by Inflation & Gig Workers Strike on Valentine’s Day
Feb 14, 2024
25:01
Snipd AI
The podcast discusses the concerning rise in inflation and its impact on the stock market. It also covers a gig worker strike on Valentine's Day for better pay. The involvement of billionaire investor Carl Icahn in JetBlue's stock is explored. Additionally, there's a legal battle between plush toy makers and a new dating app that requires a good credit score.
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Quick takeaways
- The latest inflation report in the US reveals rising prices, which makes interest rate cuts unlikely in the near future.
- Gig economy workers are planning a strike on Valentine's Day to demand better pay and improved working conditions, highlighting the need for improved rights in the industry.
Deep dives
Inflation Report Disappoints, Delaying Interest Rate Cuts
The latest inflation report revealed that prices in the US rose more than expected in January, dashing hopes of interest rate cuts in the near future. The Fed will wait for a sustained downward trend in inflation before considering rate cuts, which means we may have to wait until summer. The report highlights the challenge of controlling inflation, which has been persistently high. President Biden is particularly concerned about rising food prices and companies engaging in 'shrinkflation.' Despite this, average hourly earnings are still rising faster than inflation.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode