Good morning and happy Humpday!

CPI day is behind us, but more importantly for some, Valentines Day is upon us.

The National Retail Foundation predicts Americans will spend over $14b on Valentines Day related gifts and outings, setting a record at just over $101 per person across all age groups.

The spending doesn’t stop there, 53% of 18- to 34- year-olds not planning to celebrate the holiday still plan to… celebrate the holiday, just in their own trendy way.

-Wally

Key Stories

Speedrun

• CPI day was yesterday, here are the numbers

• On This Day

• Gas prices may see a summertime hike

• Headline Palooza

• Decent Destination

• Peter Thiel invests $200m in BTC and ETH

Economy

Inflation's Still Crashing the Party

So, the latest CPI data just landed and it's not the news we were hoping for.

Inflation's still clinging on like that last party guest who can't take a hint. With numbers not cooling off as expected, it looks like the Fed has some game-time decisions on their hands. We're talking a 3.1% inflation rate over the last year, folks, not exactly what you want to see when you're dreaming of rate cuts and cheaper loans.

Now, let's talk gas prices. If they decide to skydive this summer, we're all going to feel the pinch. And it's not just about coughing up more at the pump because this stuff ripples through, making just about everything pricier.

The Fed's walking a tightrope here. Lean too hard on those interest rates, and they could fan the inflation flames. Play it too cool, and the economy might hit a pause. With the election circus coming to town, you bet every step they take is going to be under a big spotlight.

The strategy? Seems like the Fed's playing the long game, holding out for a solid year of encouraging inflation data before they even think about making a move. So, for now, it's a wait-and-see vibe, keeping an eye on the numbers and maybe tightening up those budgets, just in case.

On This Day

2000: The Final Farewell to Peanuts

In 2000, the world said goodbye to an era as the final Peanuts comic strip was published, marking the end of a cherished chapter in American pop culture. Just hours after the legendary Charles Schulz passed away, fans across the nation woke up to the last piece of his timeless work. Schulz's Peanuts was a heartfelt reflection of life's simplicities and complexities, all seen through the eyes of Charlie Brown and his lovable gang. From holiday specials that became family traditions to daily strips that brought smiles and laughter, Schulz's legacy is etched in the hearts of many.

*This actually happened on the 13th of February but since I missed yesterday’s edition, I wanted to include this today. Charles Schulz continues to be an inspiration to many, including myself!

Economy

Oil Prices on the Move: What It Means for Your Gas Tank

Oil prices are ticking up, and it's not just traders taking notice—anyone with a car might feel the ripple effects at the pump soon. With Brent crude trading above $82 a barrel and the market showing signs of tightening, we're at a crossroads that could lead to higher gas prices. The situation is partly due to sanctions slowing down Russian oil tankers, which is just one piece of the global puzzle affecting oil supply.

OPEC's strategy of supply cuts is central to this story. Their decisions in the coming months could either ease our wallets or have us bracing for impact. If the cuts continue into Q2, and possibly Q3, we're looking at a scenario where gas prices could climb to levels that make us all a bit uncomfortable—especially with gas demand traditionally ramping up from February through August.

Morgan Stanley's recent bet on rising oil prices adds another layer to the anticipation. Yet, what happens next is still up in the air, with OPEC's upcoming report being a key piece of the puzzle. Their choices, combined with the seasonal uptick in gas demand, set the stage for a potential price surge at the pump.

In an election year, the stakes are even higher. The political landscape can be as volatile as oil markets, and significant gas price hikes could become a hot-button issue.

Headline Palooza

Decent Destinations

Rarotonga, Cook Islands

Rarotonga in the Cook Islands is your laid-back Pacific island dream. It's all about crystal-clear lagoons, chilled beach vibes, and some seriously friendly locals. Dive into the lagoon, hike up lush trails, or just kick back with fresh seafood. Rarotonga keeps it simple but unforgettable.

Crypto

Founders Fund Back in the Crypto Game

Buckle up because Founders Fund is diving back into the crypto pool headfirst, slapping down a hefty $200 million on bitcoin and ether. And let's be real, when a fund that's no stranger to bold moves starts throwing serious cash at crypto again, you have to wonder if we're on the brink of another wild ride.

Now, dropping a couple hundred million might just be another day at the office for Thiel's squad, but for the rest of us watching from the sidelines, it's a signal that could mean it's time to strap in. We've all been on the crypto rollercoaster – from the highs of bitcoin brushing that sweet $69k peak to the gut punch of the 2022 crash. But seeing bitcoin touch the $50k mark again? That's got some of us feeling like the glory days might just be making a comeback.

With the bitcoin halving on the horizon and the blockchain buzz getting louder, 2024 is shaping up to be an interesting year. Whether you're a crypto veteran or a curious newbie, keeping an eye on how the big players move could give you some clues. But as always, remember the golden rule of crypto…

It's a wild ride, so invest wisely and buckle up.

So, what's the verdict? Is Founders Fund's big bet a sign of a crypto revival or just another high-stakes gamble in the unpredictable world of digital currencies?