TLDR

MARKET RECAP → Stocks fell on Wednesday, a result of Federal Reserve Chair Jerome Powell stating the central bank will not cut rates as they assess the impacts of President Trump’s tariffs on inflation numbers. After the bell Microsoft (MSFT) and Meta (META) saw big jumps after beating earning expectations.

RATES STAY, SEPTEMBER IN PLAY → The Fed kept rates at 4.25%–4.5% despite political pressure and internal division, with two governors voting to cut. Powell said no decision has been made for September, while fresh GDP and inflation data showed strength but not enough to trigger a move.

SUPERHOT AND SUPERCHARGED → Big Tech’s AI arms race is fueling interest in “superhot rock” geothermal energy, a high-risk, high-reward play that could produce massive amounts of clean, round-the-clock electricity. If it works, it could outpower nuclear, just by digging deeper.

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MARKETS

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Economy

Rates Stay, September in Play

Fed holds rates amid dissent: The Federal Reserve voted 9-2 to keep the federal funds rate at 4.25% to 4.5%, despite political pressure from President Donald Trump to slash rates. Dissent came from Governors Michelle Bowman and Christopher Waller, both advocating for immediate cuts, making this the first time since 1993 that two governors voted "no" on a rate decision.

September cut undecided: Chair Jerome Powell stated that the Fed has made “no decisions about September” and will evaluate upcoming data before acting. He stressed the Fed’s commitment to preventing inflation from reaccelerating, especially amid new tariffs, and emphasized that rate decisions are made “meeting by meeting.”

Economy sends mixed signals: GDP grew 3% in Q2, stronger than expected, but largely due to a reversal of Q1 import spikes. Inflation fell to 2.1% overall and 2.5% core, nearing the Fed’s 2% target. Still, the FOMC statement reflected a slightly more cautious tone, noting that growth has moderated and uncertainty remains elevated.

Tech

Superhot and Supercharged

AI's hunger could spark a geothermal revolution: With AI workloads pushing energy demand to historic highs, tech giants and energy startups are turning to an underutilized resource, geothermal energy. Specifically, “superhot rock” geothermal, which taps heat miles underground where temperatures can exceed 750°F, could unlock 10x the energy of traditional geothermal, with zero emissions.

Big Tech is digging in: Companies like Quaise and Fervo Energy are racing to commercialize superhot drilling techniques by the early 2030s. Microsoft (MSFT), Google (GOOG), and other hyperscalers are quietly investing, eyeing geothermal as a clean, always-on power source to support the exploding needs of AI data centers.

Still early, and risky: Challenges include ultra-deep drilling, managing hostile underground conditions, and securing funding for costly pilot projects. But if successful, superhot geothermal could provide more baseload power than nuclear or hydro, without the politics or footprint.

BULL VS. BEAR

KEEP READING

Economy U.S. economy grew at a 3% rate in Q2, a better-than-expected pace even as Trump’s tariffs hit (CNBC)

GenAI apps doubled their revenue, grew to 1.7B downloads in first half of 2025 (TechCrunch)

US Copper Plunges as Trump Tariffs Exclude Refined Metal (Yahoo Finance)

JPMorgan Teams With Coinbase to Let Users Buy Crypto With Bank Accounts, Points and Cards (CoinDesk)

GOP Sen. Josh Hawley and Democrats vote to advance congressional stock trading ban (CBS News)

How to Change Your Money Mindset: 9 Tips for Abundance Thinking (ML)

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