Former head of Obama Auto Task Force. Wall Street financier. Contributing Writer to NY Times Op-Ed. Morning Joe Economic Analyst. 🌐
Joined October 2011
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19 Nov 2024
Get my @Morning_Joe charts and my @NYTimes OpEds & posts by signing up at StevenRattner.com
Bluesky: @steverattner.bsky.social
Threads: stevenrattner
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Steven Rattner retweeted
WSJ: “A number of investors, including Melinda French Gates and Laurene Powell Jobs’ Emerson Collective, have expressed interest in investing in the Bulwark, according to people familiar with the matter. James and Kathryn Murdoch, who are already investors in the Bulwark through their Lupa Systems company, expressed interest in buying the Bulwark, which Longwell also turned down, other people said.”
Jun 13
A profitable digital media company is as much a unicorn these days as a CEO that isn’t afraid to stand up for what they believe. My Latest about The Bulwark’s @SarahLongwell25 The Former GOP Operative Running a News Site for the ‘Politically Homeless’ wsj.com/business/media/the-b…
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Jun 12
Morningstar values SpaceX at $63/share. It priced at $135, now trading ~$165.
Only 1 of their 3 scenarios — the 7%-odds "moonshot" — justifies the offer price. The market is pricing the longshot as a sure thing.
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Jun 12
SpaceX's valuation has risen ~150x since 2015 — from ~$12B to $1.77T at today's IPO. Increases that steep are rare.
This one outruns the fundamentals: ~90–105x revenue on ~$19B of sales, and still lossmaking (–$2.6B operating last year).
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Jun 11
Inflation is at its highest level since 2023 — and running above wage growth for the first time since then.
That means Americans are losing purchasing power, with the Iran war's oil shock driving the squeeze.
My analysis on @MSNOWNews @Morning_Joe.
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Jun 11
As @SpaceX aggressively targets retail investors for its massive IPO, it's critical to look at the data on IPO performance.
Day 1 returns are big for those who get allocation, but after the open, investors usually trail the market — by -4.4% for the largest public offerings.
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Jun 11
Trump has been pushing the Fed to cut rates since he was elected.
Because of his inflationary Iran War, the market thinks the Fed may now do exactly the opposite.
My @Morning_Joe Chart.
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Jun 11
Inflation has overtaken wages for the first time in 3 years.
That means Americans’ incomes are shrinking in real terms, largely because of the Iran war.
My @Morning_Joe Chart.
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Jun 10
The inflation story in one chart: gas 40% y/y, energy 24%.
An entirely self-inflicted wound caused by Trump’s War on Iran.
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Jun 10
The Iran War bumped inflation over nominal wage growth for 2 months.
That means real wages actually shrank last month by 0.8%.
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Jun 10
Inflation spiked to its highest level in 3 years last month: 4.2%.
Trump’s tariffs and the Iran War are undoubtedly hurting Americans’ pocketbooks.
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Jun 4
Americans struggling to pay their student loans are defaulting on other debt too.
In particular, 57% of student loan borrowers in default are also failing to pay their credit card debt.
My @Morning_Joe Chart.
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Jun 4
Delinquencies are up across loan categories since 2024.
About 13% of credit card balances and 10% of student loan balances are currently delinquent.
My @Morning_Joe Chart.
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Jun 4
With rising inflation and interest rates, more Americans are defaulting on their mortgages.
For the poorest communities, the rate has increased nearly sixfold.
My @Morning_Joe Chart.
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Jun 4
401(k) hardship withdrawals are rare, but they spike when Americans’ saving and income don’t cover their expenses.
Since 2020, Vanguard data shows they have more than tripled.
My @Morning_Joe Chart.
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Jun 4
In 2025, only 21% of Americans experienced growth in their emergency savings.
That trend will likely get worse this year as inflation eats into disposable income.
My @Morning_Joe Chart.
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Jun 4
The U.S. savings rate has fallen by more than half in 2 years.
That makes millions of Americans vulnerable to shocks like the Iran War.
My @Morning_Joe Chart.
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Jun 4
Americans’ balance sheets are in a difficult place—with mounting debt and declining savings.
I was on @Morning_Joe this morning to run through the numbers. youtu.be/DmzY7qKIfO0?si=qoMO…
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Jun 2
The hiring rate was just 3.2% in April — hovering around its lowest level since 2013 (outside the 2020 shock).
The job market has frozen for many job seekers.
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