What I Read This Week…
Powell wants inflation to come down further before considering rate cuts, Apple announces a system-wide integration with ChatGPT, and China is emerging as a scientific superpower.
Watch All-In E183 Read our Creator Economy Deep Dive Caught My Eye… The Labor Department reported Wednesday that CPI held steady at 3.3%. Later that day, Powell announced during June’s FOMC meeting that he is looking for signs that inflation is moving towards the Fed’s 2% target before considering rate cuts. This marks a shift in stance from recent meetings where Powell suggested that the Fed would cut rates during the latter half of this year. Why the shift? Experts believe Powell is keen to protect his credibility and avoid cutting rates prematurely, especially after being criticized…
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