Why Corporate Profits Don't Look so Good

The video discusses the revision of US GDP figures and the decline in corporate profits, highlighting the impact on investment and the broader economy. It examines the rising labor share and its effect on profit margins, as well as the Federal Reserve's focus on domestic economic conditions and potential rate hikes. The discussion also covers market reactions and investment trends, particularly in sectors like mining and railroads, affected by global shocks.

How is the Fed's approach to global and domestic risks characterized in the discussion?

What factors are contributing to the current profit recession in the economy?