Good morning. It's the first day of the college football season. And if you, like the kid on TikTok, can't imagine a more beautiful thing than corn, send some juice to the Huskers today so that they don't play like a big lump with knobs. —Neal Freyman, Jamie Wilde, Matty Merritt | | | |  | Nasdaq | 12,141.71 | | | | | S&P | 4,057.66 | | | | | Dow | 32,283.40 | | |  | 10-Year | 3.043% | | | | | Bitcoin | $20,656.71 | | | | | EA | $132.17 | | | | *Stock data as of market close, cryptocurrency data as of 7:00pm ET. Here's what these numbers mean. | - Markets: In his big Jackson Hole speech, Fed Chair Jerome Powell warned that his fight to bring down inflation could result in "some pain" for Americans—and investors really took that to heart. Stocks suffered their worst day in two months, and closed out their second losing week in a row.
- Stock highlight: Electronic Arts had an eventful Friday. The video game company spiked 14% in premarket trading following a report that Amazon was going to buy it. But then CNBC quashed the rumors, sending its stock back down.
| | | | | Your morning routine is immaculate. You say yes to exercise and breakfast and no to predawn doomscrolling. So why are you still tired, foggy, and stressed? You need a boost, and organifi's Green Juice is here to give it to you. Specifics? We gotchu. Green Juice contains KSM-66 ashwagandha, an extract that's proven to lower cortisol levels and help ward off vibe killers like brain fog, fatigue, and poor sleep. Green Juice also comes packed with adaptogenic superfoods, ingredients that fight the harmful effects of stress and keep you at a cool 10/10. Best of all, Green Juice is delicious. Just mix with water and let the "minty matcha" flavor launch you into a clearer, calmer, more energized day. No residue, no creepy ingredients—just Mother Nature's goodness in a glass. Order today for 25% off + free shipping. | | Photo Illustration: Dianna "Mick" McDougall, Source: Joe Raedle/Getty Images. Yesterday we learned why exactly the FBI searched former President Trump's Mar-a-Lago residence on August 8. The TL;DR: When Trump reluctantly returned government records that he kept at Mar-a-Lago to the National Archives in January, hundreds were found to have classified markings, and more than two dozen were labeled "top secret." Trump was supposed to turn in government records before leaving the White House, and his failure to do that could violate some obstruction of justice laws, as well as the Espionage Act, the Department of Justice said. We know all of this because around noon yesterday, the DOJ released the affidavit that was used to obtain the warrant to search Mar-a-Lago. A heavily redacted affidavit, we should say—the thing was more heavily censored than the radio edit of "WAP." The DOJ convinced a judge that the blacking out was necessary to shield sensitive details about the investigation and to protect a "significant number of civilian witnesses" and law enforcement staff. (Affidavits are usually kept under lock and key, but the federal judge who approved the warrant ordered the DOJ to unseal it because of the public's intense interest in the case.) So in between all of the redactions, what did we learn? 184 of the documents from Mar-a-Lago that were recovered in January had classification markings, indicating information that the government has taken great pains to keep under wraps. Among the documents… - 92 were labeled "SECRET."
- 67 were labeled "CONFIDENTIAL."
- 25 were labeled "TOP SECRET."
The affidavit also stated the documents contained information on "clandestine human sources" (aka spies) that could compromise their work in gathering intelligence. For investigators, that sparked an urgent search for more docs that hadn't already been turned over. In response to the release of the affidavit, Trump spokesperson Taylor Budowich claimed the unredacted content "only further supports President Trump's position" and "it is all politics!" Looking ahead…the criminal investigation into the former president rolls on. These 15 boxes are just some of the government records Trump had kept at Mar-a-Lago; FBI agents retrieved another 11 sets of classified docs during their search of the residence earlier this month.—NF | | CNBC TV  More on that Powell speech: The Fed chair made it crystal clear that Americans will face slower economic growth and a weaker job market as a result of the central bank's efforts to tame inflation. But Powell argued that the failure to bring down prices would result in even greater hurt for Americans. He called price stability the "bedrock of our economy," and said that the Fed "must keep at it until the job is done"—"it" being a series of meaty interest rate hikes.
 British energy bills will skyrocket 80%. Britain's energy regulator raised its estimate for what a typical British household will pay in energy bills from £1,971 (about $2,300) per year to £3,549 (about $4,165) beginning in October, adding fresh worries around how Brits will afford to heat their homes this winter. Europe's energy troubles are spiraling out of control—as technical problems hamper France's nuclear reactors, power costs there surged on Friday to more than 10x the price last year.
 The monkeypox outbreak may be past its peak. Global cases of the virus dropped 21% compared to the week before, the WHO said on Thursday, with most of the decline occurring in Europe. In the US, new cases of monkeypox have dropped 25% in the past two weeks, per the Washington Post, and health officials in New York City (the onetime epicenter of monkeypox in the US) said that cases are also on the decline there. Leaders are optimistic about the downward trend, but not ready to say it's over until it's over.
| | MTV European Music Awards/Paramount International Networks via Giphy
Remember when the internet agreed that Pfizer–BioNTech was the vaccine of choice for hot people? Well, Moderna says Pfizer's vaccine is a poor imitation—the Mr. Pibb to its Dr. Pepper. In a lawsuit yesterday, Moderna accused Pfizer and BioNTech of illegally using the mRNA technology it developed. Moderna is asking the companies to pay damages on most mRNA vaccines they've sold since early March of this year, claiming they copied Moderna's groundbreaking tech for their own vaccine without getting the proper licenses to do so. The tech at the center of the squabble: The mRNA vaccine is a scientific breakthrough that's already generated billions in sales from Covid shots and stands to rack up billions more as scientists find other applications for it. If Moderna can secure its rights, it can charge other companies for using the tech—a big win for Team Moderna. Previously, Moderna had pledged not to enforce its patents until the pandemic ended, which may be part of the reason Pfizer said Friday that it was "surprised by the litigation." (It also said it developed its vaccine through its own proprietary tech.) Some legal experts say Moderna's pledge is legally binding until the WHO declares the pandemic to be over, since Burning Man shamans aren't a high-enough authority. Pfizer could ask for the suit to be dismissed based on the grounds that Moderna is breaking its promise, but also…by the time it proves its case, the pandemic may actually be over.—JW | | The Joe Rogan Experience Podcast Joe Rogan and Meta CEO Mark Zuckerberg chatted for almost three hours on The Joe Rogan Experience podcast released Thursday. It's the perfect soundtrack for a drive from Chicago to Davenport, Iowa, but if you're not planning on making that trip, here are a few highlights. On the new VR headset: Zuck said Meta will launch the sequel to its Quest 2 headset at the company's Connect conference, which has typically taken place in October. The headset will have eye- and face-tracking tech and will beef up your avatar's nonverbal communication to mimic real-life conversations. On fact-checking: Rogan asked Zuckerberg if he regretted limiting distribution of a questionable article in 2020 about Hunter Biden's laptop. Zuckerberg told Rogan that the decision was wrong and that he doesn't like dealing with content moderation issues. Zuck also said Meta spent $5 billion in 2021 on fighting disinformation. On morning routines: Zuck said that waking up every day was like being "punched in the stomach" by a barrage of messages. To cope with the stress, he spends an hour or more working out. Zuck said he's recently gotten into mixed martial arts and stopped running, because "the problem with running is you can think a lot."—MM | | Katelyn Mulcahy/Getty Images Stat: In the last year, crypto companies have slapped their names on sports stadiums, bought pricey Super Bowl commercials, and enlisted an army of celebrity endorsers. What do they have to show for it? Maybe not much. In a new Pew survey, 16% of respondents said they have invested in, traded, or used a cryptocurrency. That's the same exact number from a survey last September. Quote: "When I tune into a Tampa Bay Buccaneers game I expect to see Tom Brady throw a football. When I tune into a Formula 1 race I expect to see Lewis Hamilton in a car." Golfer Rory McIlroy justified the PGA Tour's sweeping overhaul of its structure this week, which will have its star players competing in more tournaments together for higher purses. Also intriguing: McIlroy and Tiger Woods announced a new "tech-infused golf league" that's slated for Monday nights come 2024. Read: Wild story—how a Russian agent charmed her way into NATO circles in Italy. (Bellingcat) | | | Unlike shoulder pads, tube tops, and Zumba, learning never goes out of style. Keep growing with the Brew's Leadership Accelerator and go from team member to team leader. It's even designed to pair with your full-time job. The next session starts in September, so apply today. | | - The US and China reached a deal to let US regulators inspect audits of Chinese companies listed on American stock exchanges, potentially averting the delisting of hundreds of Chinese stocks.
- That was fast: HBO renewed House of the Dragon for a second season after 20 million people watched the first episode.
- NBC is reportedly thinking about scrapping programming from 10pm–11pm due to the waning interest in cable TV, the WSJ reports.
- The US has created an ambassador-at-large role that's focused on the increasingly strategic Arctic region. We nominate Frozone.
| | Weekend conversation starters: What's the other side saying? Ask Tangle. Tangle is an independent, ad-free, nonpartisan politics newsletter that summarizes the leading arguments from the right, left, and center on the news of the day. Sign up for free. | | Brew Crossword: Today's crossword will have you playing "I'm On a Boat" on repeat. Solve it here. Open House Welcome to Open House, the only newsletter section that's tailgating the Fed meeting. We'll give you a few facts about a listing, and you try to guess the price.  Jackson Hole Sotheby's InternationalToday's home is mere blocks from the town square in Jackson, Wyoming. Catch up with Jay Powell and the rest of the bank heads in Teton Village, then come home to your quaint, 960 square-foot townhouse. Amenities include: - 2 beds, 2 baths
- Attached garage for all your ski gear
- Great views, even from the toilet
- Fenced-in backyard (to keep the bears out)
How much for Snow King Mountain in your backyard? | | Gain 24/7 access to the ultimate Excel experience when you pair Excel Dictionary's NEW Excel Digital Guides + Dictionaries with her Excel Banner Pen. Shop the collection now for spreadsheet excellence. Check out more from the Brew:  Before you make an investment, you evaluate the risk—why should it be any different when it comes to dating? That's where Money Where Your Mouth Is, Morning Brew's dating show where singles try to find their perfect financial match, comes in. Watch here.
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