Daily Economic Update: November 25, 2024

One of the things the Federal Reserve does correctly is implement a blackout period, every once in a while it's good to cut the noise out, especially when it comes to financial news.  As I've done in the past this holiday-shortened week my economic update will consist solely of one quote.

The week ahead does feature some relatively important data with FOMC Minutes on Tuesday and PCE along with GDP data on Wednesday ahead of the market close on Thursday and a shortened day for fixed income trading on Friday. 

 "The great defect of scale, of course, which makes the game interesting—so that the big people don’t always win—is that as you get big, you get the bureaucracy. And with the bureaucracy comes the territoriality—which is again grounded in human nature...And in a bureaucracy, you think the work is done when it goes out of your in-basket into somebody else’s in-basket. But, of course, it isn’t...So you get big, fat, dumb, unmotivated bureaucracies...They also tend to become somewhat corrupt...you get layers of management and associated costs that nobody needs.Then, while people are justifying all these layers, it takes forever to get anything done. They’re too slow to make decisions and nimbler people run circles around them..." - Charlie Munger