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Watch All-In E187Read our Deep Dive on U.S. DefenseCaught My Eye…The Labor Department reported that CPI decreased by 0.1% in June, indicating that inflation has cooled. What does this mean for the Federal Reserve's interest rate policy and for American consumers? Investors now see an increased likelihood of a rate cut later this year, especially since the U.S. labor market has cooled as well. Meanwhile, while inflation is slowing, its cumulative effect continues to strain many American households, as prices for groceries and other everyday items are around 20% higher than they were four years ago.The spread between the S&P 500 (weighted by market capitalization) and the S&P 500 Equal Weight index is the highest it’s been in over two decades. This gap is largely due to the AI-fueled rally of the “Magnificent 7” stocks, with Nvidia alone accounting for 34.5% of the S&P 500’s growth this year. If the optimistic projections for AI fail to materialize, it could trigger a sharp decline of th...

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Chamath Palihapitiya

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1765085598

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