Morning Brew Daily Markets Brace After First Harris/Trump Debate & The Fed Bows to Big Banks
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Sep 11, 2024 The discussion kicks off with reflections on the presidential debate between Trump and Harris, highlighting their economic strategies. Next, the tension between big banks and the Federal Reserve unfolds, revealing implications for financial regulations. Volkswagen faces manufacturing challenges that hint at wider issues in the German auto industry. Meanwhile, leadership shake-ups at Starbucks and Red Lobster signal attempts to refresh their brands. Finally, a viral 9-month cruise adventure concludes, showcasing the allure of long-term travel.
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Presidential Debate
- Kamala Harris and Donald Trump debated economic policies, including inflation and tariffs.
- Trump criticized inflation under Biden, while Harris targeted Trump's tax cuts for corporations.
Tariff Impact
- Trump's proposed tariffs aim to fund tax cuts and protect US manufacturing jobs.
- Economists suggest tariffs may not fully cover tax cut costs and could increase consumer prices.
Fed Bows to Banks
- The Federal Reserve lowered proposed capital requirements for big banks from 19% to 9%.
- This followed lobbying from bank executives concerned about lending and global competitiveness.