Global MACRO Update - August 31st, 2022

Markets TUMBLED after Chair Powell said he’s definitely taking away the punch bowl; President Biden issued a MASSIVE student loan forgiveness plan; European INFLATION numbers for August came in SKY HIGH at 9.1%; Oil took a HUGE dive on news around the Iraqi supply; Ukraine's food exports nearly DOUBLE with the Black Sea now open; Meta adds NFT functions to its platforms.
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00:00 - News Summary
00:57 - Recap of Last Week
01:54 - Powell's Speech
09:36 - Student Loan Forgiveness
12:12 - Will Loan Forgiveness Cause Inflation?
17:59 - Job Openings to 11.2 Million
21:03 - European Inflation Surges to 9.1%
24:05 - China Water Shortage
29:16 - Russia GDP Set to Contract 3%
33:33 - Brazil Posts Biggest Deficit in 8 Years
35:05 - Oil Tumbles on News of Iraqi Supply
39:39 - Ukraine Grain Exports Nearly Double
43:46 - US SPR Falls to Lowest Level Since 1984
46:00 - Gazprom Will Halt Gas Supplies to France
50:40 - Meta Adds NFT Functions to Platforms
54:00 - Singapore Cracks Down on Crypto
55:45 - Next Week
58:34 - Outro

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