Anna's Daybreak News

Good morning news fiends! Hop in on a journey through the ever-turning pages of news, where we curate, dissect, and bring to life the stories that shape our world.🗞️🌄

• The minutes from the US central bank’s July 25-26 policy meeting showed that most participants were concerned that inflation would remain elevated and that further interest-rate increases would be needed.


• However, the consensus was starting to show some cracks, as there were concerns about further hikes due to the risks associated with slowing economic growth.


• Some policymakers prioritize the battle against inflation, while others considered the potential damage of rates too high.


• Data since the meeting has shown key price measures falling and job creation ebbing, hinting at a potential soft landing.


• The Fed staff predicts gradual inflation decline, while participants cite tentative signs for abating inflation pressures.


• While further hikes will depend on the outcome of the US-China trade war, the signs of dissension amongst Fed officials are noteworthy.


• The minutes showed that the Fed is cautiously optimistic about economic recovery in the near future.


• With inflation fighting to stay above 2%, we'll have to wait and see if the Fed will decide to raise rates again - it's not a done deal, no matter how much they want it to be
Source: Read More

• A recent SF Fed study suggests that the excess savings US households accumulated during the pandemic could be exhausted by the end of the third quarter.


• Governments revisions to data have altered the picture of the lingering pandemic savings.


• Consumer spending, fueled by pandemic savings, has supported the US economy in 2021.


• Pandemic savings are the latest victim of 2020, joining the ranks of cancelled plans, Zoom meetings, and the hopes of a normal year.
Source: Read More

• Maui officials defended their decision not to use sirens to alert citizens of the wildfire, claiming that doing so would have led people to evacuate towards the danger.


• The fire on the 8th of August killed at least 110 people, destroyed or damaged some 2,200 buildings, and sent hundreds more unaccounted for.


• The US President Joe Biden and the First Lady will travel to Hawaii to survey the devastation and meet with first responders, survivors and federal, state and local officials.


• So far, the remains of only five individuals have been identified, and identification of the rest has been slow due to the intensity of the fire.


• Maui officials can take a page out of California's book - if you can't beat the fire, sound the siren!
Source: Read More

• Armed Russian marines raided a Turkish-based vessel in international waters near Istanbul


• Turkey remains silent, hoping Putin will accept invitation for talks to resume a grain-export deal


• Since Russia exited agreement last month, multiple warnings and attacks on vessels off Ukraine and Russia's coast have stirred worry of increasing volatility in the Black Sea


• Ankara quietly opposes alternative assumptions to the grain-export agreement and looks to find a balance between good relations with both Kyiv and Moscow


• The only resolution: Turkey must choose between maintaining peace in the Black Sea or playing hot potato with the Russian Federation and Ukraine.
Source : Read More

Baked with love,

Anna Eisenberg ❤️