Daily insights from the global economy. Markets, geopolitics, inflation, policy & trends—distilled into one sharp memo. No noise. Just signal.MacroMemo.com Houston, TXJoined May 2010
The Fed drama worsens:
President Trump just signed an Executive Order which "fired" Fed Governor Cook due to a "Criminal Referral."
Never in the 111-year history of the Fed has a President fired a Fed Governor.
Over the last 48 days, the US Federal Debt has surged by +$1 TRILLION, or +$21 billion PER DAY.
Since August 11th, the US has added +$200 billion in debt.
Why is US government spending running at WW2 levels in a "strong" economy?
BREAKING: National Guard will now be mobilized across nearly 20 states to support a surge in illegal immigration enforcement and a broader crackdown on crime.
BREAKING: Fed Chair Powell says the "shifting balance of risks may warrant adjusting our policy stance."
It appears Fed Chair Powell is setting the stage for a September rate cut.
BREAKING: United States immigrant population is now in decline for the first time in over 50 years, as the Trump administration cracks down on illegal immigration, per Pew Research Center.
BREAKING: Canada is removing many of its reciprocal tariffs in an “olive branch” to President Trump, per Bloomberg.
This means a broad range of US products will no longer face 25% tariffs.
FED CHAIR POWELL:
"Risks in inflation are tilted to the upside, and risks to employment are tilted to the downside."
That's a long way to say "stagflation."
Just IN: In a massive diplomatic move, Bangladesh cancels visa requirements for Pakistani officials.
📍Bangla govt says Pakistani officials won't be needing any visa for entering Bangladesh — first time since 1971.
📍Bangladesh and Pakistan are also working on a program to…
BREAKING: Nvidia, $NVDA, has reportedly ordered a halt to the production of its H20 chip after China told its technology companies to stop purchasing them.
BREAKING: President Trump is considering firing Fed Governor Cook, per WSJ.
This morning, President Trump called on Cook to resign.
1 hour ago, the DOJ said they received a criminal investigation referral for Cook.
BREAKING: Meta, $META, is freezing all AI hiring, per WSJ.
This comes just days after Meta offered compensation packages exceeding $100M for some AI engineer hires.
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