“Anytime you have a negative payroll growth number… that is, like I said, a big flashing red sign.” – 02:02

Sonu Varghese, Vice President Global Macro Strategist at Carson Group, joins Remy Blaire to provide expert insights into the current economic landscape. They delve into the likelihood of the Fed cutting interest rates, with the CME FedWatch indicating an 84% chance of a 25 basis point cut. Sonu emphasizes that the recent jobs report, which shows negative payroll growth and an increasing unemployment rate—the highest since October 2021—signals a pressing need for the Fed to take action.

The conversation shifts to the impact of rising import tariffs on American businesses and consumers. Sonu explains how these tariffs are affecting cyclical sectors of the economy, leading to job losses in manufacturing, wholesale trade, and construction. He highlights the relationship between income growth and consumer spending, noting that weak payroll growth and modest wage increases are contributing to economic challenges.

As they look ahead to upcoming inflation figures, including CPI and PPI, Remy and Sonu discuss the Fed’s dilemma of managing inflation, which is currently above target, while responding to a softening labor market. Sonu points out that while tariffs may contribute to inflation, the Fed faces broader challenges with services inflation also on the rise.

In the latter part of the segment, Remy and Sonu explore investment opportunities in the current market environment. Sonu advises on the importance of diversification, especially given the heavy exposure to technology within the S&P 500. He suggests looking into sectors like industrials and financials, which are performing well, and notes the recent rally in mid and small-cap stocks, as well as homebuilders benefiting from expectations of rate cuts.

“Who wouldn’t be at the dead not to be excited by the way this is the time where the NFL really survives and thrives at twenty five billion dollar annual revenue.” – 00:39

Rick Horrow, CEO of Horrow Ventures, joins Remy Blaire to discuss the return of football and the current state of college sports. The segment kicks off with excitement as the NFL season begins, featuring a highly anticipated matchup between the Super Bowl champion Philadelphia Eagles and their division rival, the Dallas Cowboys. Remy prompts Rick about his enthusiasm for the NFL’s return, to which Rick responds with fervor, highlighting the league’s impressive $25 billion annual revenue and the financial stakes involved in franchise ownership.

The conversation then shifts to college football, where Remy notes the significant investments teams are making in their rosters due to Name, Image, and Likeness (NIL) deals. Rick elaborates on the evolving landscape of athlete compensation, mentioning that Ohio State, the number one ranked team, is reportedly investing $35 million in its roster. He explains how the financial dynamics have changed, with teams now expected to invest between $40 to $50 million as NIL deals mature, contrasting this with the past when payments were made discreetly.

As the discussion progresses, Remy brings up the U.S. Open, where Rick shares his recent experiences and observations. He humorously discusses the popular “honey deuces” cocktails that have become a staple at the event, noting their high price and the staggering number sold, which contributes significantly to the event’s economic impact. Rick mentions that the U.S. Open attracts around 800,000 attendees and generates over a billion dollars in economic activity, emphasizing its status as the largest spectator sport event in New York.

“Stablecoins are global, and so when you can pay anyone anywhere at any time, the costs go down significantly and the efficiencies increase.” – 01:57

Marc Boiron, CEO of Polygon Labs, joins Remy Blaire to discuss the future of payments innovation, focusing on stablecoins, tokenization, and the role of artificial intelligence in finance.

Mark explains the concept of stablecoins as “internet native money,” which allows for global transactions that are faster and more cost-effective than traditional payment systems like FedNow in the U.S. and CEPA in Europe. He points out that stablecoins eliminate many of the restrictions associated with localized payment systems, enabling users to transact anywhere in the world.

As the discussion progresses, Remy and Mark delve into the regulatory landscape surrounding stablecoins. Mark notes that the recent passage of the Genius Act has provided much-needed clarity for stablecoin issuers, transforming the perception of stablecoins from a regulatory burden to a lucrative opportunity for fintech companies. This shift is expected to lead to significant growth in U.S.-based stablecoins, contrasting with other regulatory regimes like MICA, which have been more restrictive.

Mark shares impressive statistics about the performance of stablecoins on the Polygon platform, revealing that there is currently around $3 billion in stablecoins and a monthly transaction volume exceeding $400 million. He emphasizes the diversity of stablecoins available on Polygon, including a newly launched yen-based stablecoin, which allows users to hold and transact in various currencies beyond the U.S. dollar.

The conversation also touches on the economics of currency-backed stablecoins, with Mark explaining that they are typically backed by debt instruments, allowing issuers to generate revenue while providing users with a globally accessible form of currency. Remy and Mark discuss the importance of yield generation in the fintech space, with Mark highlighting Polygon’s focus on payments and its collaboration with other networks, such as Katana, to offer yield-bearing assets.