Episode 248 of The Higher Standard is here and Saied, Chris and Haroon break down the key takeaways from the Fed's decision to cut a full 50bps for its first rate cut of the cycle. The last two times this happened historically was in 2001 and 2007. After each of those was a notable recessionary economy.

➡️ Real estate agents are also dropping like flies already, falling to the lowest number of reported employed agents since 2014. Almost as shocking is that the 23andMe CEO Anne Wojicicki has lost her entire board of directors in a single day. Lastly, as tragic as the Diddy situation may be, you know they guys had to unpack it and cover some of the absolutely stunning and strange revelations.

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🔗 Resources:

Key takeaways from the Fed’s decision to deliver a jumbo-sized interest rate cut (CNN)

Last 2 times the Fed’s first cut was 50+ bps (Geiger Capital via X)

BREAKING: The number of full-time real estate agents and brokers in the US dropped to 440,000 in 2023, the least since 2014 (Kobeissi Letter via X)

23andMe CEO Anne Wojcicki ‘surprised and disappointed’ by board resignations: Read the memo (CNBC)

Sean ‘Diddy’ Combs to remain in custody after judge denies bail appeal in racketeering conspiracy and sex trafficking case (CNN)

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