Kevin Warsh became Chair of the Federal Reserve System on May 22, succeeding Jerome Powell. There are 12 voting members of the Federal Open Market Committee (FOMC) which determines monetary policy. READ MORE
Value Traps vs. Growth Traps
Can growth traps be as treacherous as value traps? Podcast host and Founder of Cambria Funds, Meb Faber, interviews GMO’s Ben Inker and Tom Hancock to discuss their findings. 10 minute video: https://www.youtube.com/watch?v=5F0N5hCAUzc
On Deck – Chair Jerome Powell and the Fed
The Federal (Reserve) Open Market Committee (FOMC) has their next scheduled meeting on September 17-18. Chair Jerome Powell and the Fed’s Board of Governors have been objects of President Trump’s criticism for not lowering rates enough. READ MORE
One Big Beautiful Bill?
H.R. 1 of the 119th Congress passed in the U.S. House of Representatives and is now before the Senate. READ MORE
Economic and Tariff Update
The Bureau of Economic Analysis (BEA) released a preliminary estimate for real GPD during the first calendar quarter of -0.3% (annualized). The decline in GDP was primarily due to an increase in imports as companies accelerated orders in advance of tariffs. READ MORE