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Can you believe it's only Thursday? Phil Rosen here. The sheer volume of financial news this week is enough to fill a very thick book — but if it's okay with you, today we'll keep it to a single newsletter.
One thing I'm thinking about this morning: Elon Musk said he sees similarities between the Silicon Valley Bank collapse and the 1929 Wall Street crash.
Gooood morning readers! I'm Phil Rosen. On tap today we've got a great interview with a top real estate economist and this week's best markets stories, including updates on the Silicon Valley Bank meltdown.
Before we get to that — who do you think I should speak to next?
Good morning. I'm Phil Rosen, writing to you just blocks away from the Federal Reserve building in Manhattan.
Yesterday on Capitol Hill, Jerome Powell reiterated his warning that the Fed's more than ready to keep jacking up rates if necessary.
Inflation hasn't gone away as easily as policymakers want, and Powell thinks that may just warrant a steeper policy path.
He did make clear, however, that nothing yet is set in stone (traders have doubled the expected odds of a half-point hike at this month's meeting).
Happy Saturday, readers. I'm Phil Rosen.
I'm eager to share today's conversation with a top strategist about changes to the current investing landscape — but first I have a question.
Who should I speak to next?