Morning Brew Daily Fed Finally Pauses Rate Hikes & AI is Coming for Doctors and Lawyers
Jun 15, 2023
The hosts dive into the Federal Reserve's decision to pause interest rate hikes and what this means for the economy. They celebrate Modelo's rise as America's top beer, dissecting Bud Light's struggles. The intriguing potential of AI in the workforce is explored, focusing on job displacement and new opportunities. A controversial parking meter deal in Chicago highlights public versus private interests. The economic ripple effects of major concerts, including a nod to Beyonce's impact on inflation, round out the lively discussion.
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Fed Pauses Rate Hikes
- The Federal Reserve paused interest rate hikes after 10 consecutive increases.
- This pause, the first since March 2022, aims to assess the impact of previous hikes on the economy.
Inflation Remains High
- Despite aggressive rate hikes, inflation remains stubbornly above the Fed's 2% target.
- Consumer spending, the housing market, and the stock market continue to show resilience.
Modelo Overtakes Bud Light
- Modelo surpassed Bud Light as the top-selling beer in the US, marking a significant shift in the industry.
- This change follows a Bud Light boycott and reflects Modelo's steady growth over decades.