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5 min readShein’s Shrunken IPO, Fed Chair Warsh Under the Microscope, and a Breakthrough for Pancreatic Cancer
The most important economic speech of the year is happening this morning in Jackson Hole, Wyoming, where Federal Reserve Chair Kevin Warsh will address the central bank’s annual symposium. But unlike his predecessors, who used the platform to lay out broad principles, Warsh has backed himself into a corner by saying almost nothing since taking office — and markets are desperate for clarity. Meanwhile, fast-fashion giant Shein is limping toward a Hong Kong IPO on Monday at a $27 billion valuation, a fraction of its $100 billion peak. And in health news, the FDA approved a new drug for pancreatic cancer that has doctors weeping — literally — after decades of failed attempts to crack what was considered an “undruggable” protein.
Kevin Warsh’s Jackson Hole Tightrope
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What you'll learn
- 1 (00:30) **Show Intro & Tiramisu World Cup** - Neil and Toby open the show, then discuss a call for amateur taste testers for the Tiramisu World Cup in Italy.
- 2 (03:14) **Fed Chair Warsh’s Jackson Hole Speech** - The hosts preview the most important economic speech of the year, where Fed Chair Kevin Warsh is expected to set the tone for his tenure.
- 3 (08:16) **Dog of the Week: Shein** - Shein is named the "dog of the week" as it limps toward a $27 billion IPO on the Hong Kong Stock Exchange, a fraction of its peak $100 billion valuation.
- 4 (12:18) **Stock of the Week: Revolution Medicines** - Revolution Medicines is the stock of the week after the FDA approved its new drug, Rasmus, a game-changer for pancreatic cancer treatment.
- 5 (17:47) **New International Flight Routes** - American and United announce a slew of new overseas flights for next summer, driven by a new plane and changing travel demands.
- 6 (23:10) **Lake Ontario Renamed to Lake America** - President Trump signs an executive order renaming Lake Ontario to Lake America amid escalating trade tensions with Canada.
- 7 (25:19) **GTA 6 Extended Trailer Drops** - Netflix releases the longest official look yet at Grand Theft Auto 6, a 27-minute special made from PS5 gameplay footage.
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Show Notes
#921: The economic world prepares for Jackson Hole and all eyes are on Kevin Warsh to deliver a clearer message on the state of inflation in the US. Shein, once valued at $100B, is now aiming for a $27B valuation as it makes its stock market debut. A new drug can lengthen the life of those with pancreatic cancer. American Airlines and United are hoping direct flights to far flung places will attract new customers.
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