Macro Briefing: 27 February 2024

* US government remains headed for partial shutdown on March 1, but…
* April 30 may be more consequential for government shutdown risk
* Fed wants more “certainty” on inflation before rate cuts: Moody’s Analytics’ Zandi
* Hedge funds turn cautious on outlook for tech stocks
* Texas factory activity stabilizes in February
* New US home sales edged higher for a second month in January:

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Macro Briefing: 26 February 2024

* Fed’s favorite inflation gauge expected to rise most in a year
* Business economists expect rate cuts starting in June: NABE survey
* Is rising US stock market a factor that will delay interest rate cuts?
* Key chip maker TSMC opens first plant in Japan
* Buffett’s Berkshire Hathaway reports strong rise in operating earnings, but…
* Berkshire’s size implies stock will only slightly outperform in years ahead: Buffett

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Book Bits: 24 February 2024

Taming the Octopus: The Long Battle for the Soul of the Corporation
Kyle Edward Williams
Review via The Wall Street Journal
The question of corporate purpose is central to Kyle Edward Williams’s “Taming the Octopus,” a history of efforts by American government officials and activists to rein in corporate power and even harness it to their favorite causes. These efforts are based on the idea that the limited-liability corporation, “its tentacles wrapped around the globe many times over,” ought to be accountable. But, as the author asks: “Accountable to whom or to what?”

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Macro Briefing: 23 February 2024

* US government faces shutdown deadline next week (March 1)
* Fed Gov. Waller wants more evidence inflation is cooling before cutting rates
* US existing home sales rose 3.1% in January but fell vs. year-ago level
* Jobless claims in US decline to lowest level in five weeks
* US economic activity fell in January via Chicago Fed Nat’l Activity Index, but…
* US economy continues modest expansion in February, PMI survey finds:

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