60,000 Fed Headlines, Massive Yen Swings & The Cost of NIMBYism
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:
(1) Bloomberg Economics' Fed sentiment index — powered by a natural language processing algorithm based on more than 60,000 Fed headlines — shows that in December, Powell delivered a major pivot. By hinting at a swifter shift toward rate cuts, he gave markets a boost and helped the economy dodge a downturn.
(2) The yen swung in holiday-thinned market conditions, punching through 160 per dollar to touch its weakest in 34 years before erasing all its losses for the day and rebounding strongly.
(3) Scotland's First Minister Humza Yousaf may step down, according to UK media reports. The Sunday Times says he's preparing to resign today, but the BBC says the SNP leader has not yet made a final decision on his position.
(4) Elon Musk's surprise visit to China appears to have paid immediate dividends, with Tesla Inc. clearing two key hurdles to introduce its driver-assistance system to the world's biggest auto market.
(5) British taxpayers are paying more and more for a planning system buckling under the strain of years of under funding and increasingly strident NIMBYism.
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