Morning Brew Daily Elon Musk is Worth $400B & Saudi Arabia Set to Host 2034 World Cup
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Dec 12, 2024 Saudi Arabia's bold move to host the 2034 World Cup has sparked global interest and conversation. Elon Musk's astronomical rise to a $400 billion net worth showcases the power of technology and investment. The latest inflation report reveals subtle trends impacting everyday life. Young Americans face declining mobility amid high housing costs, while a record $765 million sports contract makes waves. Plus, hear updates on climate change illustrated by a traveling humpback whale.
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Fake Springsteen Fan
- New Jersey Representative Josh Gottheimer exaggerated his Springsteen fandom on his Spotify Wrapped.
- He photoshopped it to appeal to voters in his gubernatorial race.
CPI Report and Market Reaction
- November's CPI report matched expectations, calming market fears and indicating slowing inflation.
- Shelter costs, a key inflation driver, finally slowed, contributing to a positive market response.
Fed's Next Move
- The Fed is likely to cut interest rates again in December, following the CPI report.
- However, Jerome Powell remains cautious due to potential inflationary pressures from Trump administration policies.