THE WEEKLY STEEP
From the US Open to Santana Row, every rally is a story of endurance, every reinvention a quiet beginning. Remember: Every pursuit we honor becomes a promise to our future.
WHAT’S BREWING
U.S.: The week underscored sharp shifts in federal authority, climate extremes, and cultural milestones that resonated beyond U.S. borders.
Federal Power Shifts: The FBI raided John Bolton’s home and office (Aug 22) in a classified-documents probe, even as the administration drove federal layoffs, deepened immigration crackdowns, and saw a judge block DOJ control of DC’s police after 240+ arrests.
Radioactive Shrimp Recall: The FDA found Cesium-137 contamination in Indonesian shrimp, prompting Walmart and Southwind Foods recalls across states and testing alerts at four major ports.
Hurricane Erin: The season’s first major Atlantic storm rapidly intensified to a Category 5 with 160 mph winds, cutting power to homes in Puerto Rico and forcing Outer Banks evacuations.
Cultural Breakthrough: Zakir Khan became the first comedian to perform entirely in Hindi at Madison Square Garden (Aug 17), a milestone widely celebrated across the diaspora.
South Asia: India projected long-term ambition with new economic and strategic plans, while Pakistan faced climate pressures and neighbors navigated political shifts.
India’s $10T Roadmap: PM Modi’s Independence Day address outlined a $10 trillion growth plan, paired with an Agni-5 missile test (3,100+ mile range). Engagements followed with China (Aug 18-19 FM talks), Russia (oil discounts), and Japan, which will announce $68B in investment during Modi’s Aug 29 visit.
Pakistan’s Climate and Diplomacy: Floods since June have killed over 600 people, including 300 in the past week, while Islamabad revived China-Afghanistan talks and trade with Bangladesh.
Sri Lanka and Bangladesh: Former President Ranil Wickremesinghe was arrested Aug 22 on corruption charges, the first such case in the country’s history; Bangladesh confirmed February 2026 elections.
Global: Europe deepened economic ties with Washington while global crises, from wildfires to shifting defense lines, kept pressure on governments to adapt.
EU-US Trade Deal: Brussels and Washington finalized a tariff-capped pact at 15%, marking a rare moment of transatlantic economic convergence.
Climate Pressures: Spain endured its worst blazes in decades with over 400k hectares burned.
Security Fronts: NATO weighed new guarantees for Ukraine after a Nord Stream suspect’s arrest, while the U.S. doubled its bounty on Venezuela’s Maduro to $50M, signaling renewed global security flashpoints.
MONEY MOVES
Markets rallied on Powell’s pivot, while tariffs squeezed margins across retail, housing, and consumer goods.
Powell Sparks Rally: At Jackson Hole, Fed Chair Powell opened the door to Sept. rate cuts, sending the $DOW ( ▲ 5.99% ),$SPX ( ▲ 1.52% ), and $NDX ( ▲ 1.88% ) higher.
$BTC.X ( ▼ 0.82% ) traded $112k-117k, down from its Aug 14 peak of $123k.
$USDINR ( 0.0% ) INR hovered around ₹87.30.
Retail & Consumer
$WMT ( ▼ 1.15% ): Q2 revenue +4.8% YoY on strong comps and e-commerce; missed EPS on tariffs (first since 2022) but raised FY guidance.
$TGT ( ▲ 2.25% ): Revenue edged estimates amid CEO succession news; comp sales -1.9%; cautious FY outlook.
Tech & Tariffs
$SONY ( ▲ 3.55% ): Raised PS5 prices by $50, with the Pro now $749.99, citing tariffs.
$AMAT ( ▲ 1.66% ): weak China demand and tariff risks.
$INTC ( ▲ 5.53% ): Gained on reports of potential government stake via the CHIPS Act.
Market data via Stocktwits. Consult a financial advisor before investing.
PLAY BY PLAY
Cricket: Asia Cup 2025 Countdown: The tournament runs Sept 9-28 in the UAE, with the marquee Ind vs Pak clash on Sept 14.
Soccer: The 2025-26 Premier League kicked off Aug 15 with Leeds, Burnley, and Sunderland returning to the top flight, while Leicester, Ipswich, and Southampton drop out.
Tennis: The US Open runs Aug 24-Sep 7. Read our special: US Open: Legends and a New Class Rising.
RAISING ROOTS: From “Doers” to Designers of Ideas
The World Economic Forum’s Future of Jobs Report 2025 shows analytical thinking and creativity top the skills of tomorrow, with 4 in 10 core abilities set to change by 2030. Parenting in the age of AI means raising children who can question, build, and imagine, shaping tools to serve humanity, not the other way around. Read more
LIVING WELL:
Love-All: The Health Wins of Racquet Sports
🏸 Racquet sports are health hacks in disguise. New 2024-2025 research shows tennis, badminton, and pickleball can add nearly a decade to your life, boost mood and sleep, sharpen focus, and even build intergenerational community. From the US Open to your neighborhood court, every rally is more than a point, it’s a wellness play. Game On
Night-Session Chic: Dressing for the US Open
With a Sunday start (Aug 24) and a record $90M purse, this year’s main draw leans into late-night drama. Think tennis-core in neutrals with one bold pop, varsity layers after dark, and player-inspired silhouettes that echo runway ambition. From Arthur Ashe to an unplanned midnight dinner, it’s a style marathon as much as a sport. Read more
COSMIC CHAI: Weekly Horoscope (Aug 22-29)
Mood: Grounded but glowing. Leo’s sparkle lingers, but Virgo season officially takes the reins (Aug 22), trading spotlights for spreadsheets and glam for game plans. Venus in Cancer keeps relationships tender, while Mars in Libra highlights collaboration and fair play. Mercury stays direct, so the fog lifts, what you edit now actually sticks.
⛰️ Earth Signs: Methodical, magnetic, and freshly aligned.
🌊 Water Signs: Heart-centered, intuitive, creatively charged.
🔥 Fire Signs: Focused, reflective, quietly powerful.
🌬 Air Signs: Socially magnetic, mentally sharp, strategically grounded.
Vibe Check: Celebrate what’s worked, streamline what hasn’t. This is your week to polish the script before the next act begins. Full Horoscopes
EDITOR'S PICK: The Jazba Bazaar (Aug 24)
Co-founded by Asha Chandra and Ruchira Pungaliya, The Jazba Collective is mentoring founders and pushing South Asian brands from niche to mainstream. On Aug 24 (1-7 pm PDT), Santana Row in San Jose becomes an open-air bazaar with 25+ founder-led brands, food, music, and community.
Even if you’re not in the Bay, the heart of Jazba is worth knowing. A cultural supply chain where every chutney, sari-stitch, and handcrafted piece carries memory and meaning. Supporting these founders means fueling visibility, creativity, and economic circulation for the community. Read more for the brand roll-call and stories behind
📺 TV Show Alert: Bigg Boss 19: Salman Khan is back Aug 24 with a new “Gharwalon ki Sarkaar” twist. This season runs a record 20-22 weeks.
UPCOMING WEEK
Aug 26: Women’s Equality Day (U.S.): Honoring the 19th Amendment and the long road toward voting rights and gender parity.
Aug 27-Sept 6: Ganesh Chaturthi: Begins Aug 27 (but the tithi starts afternoon Aug 26), launching 10 days of community pujas, modaks, and public pandals in celebration of Lord Ganesha.
SHARE THE WEEKLY CHAI
Love The Weekly Chai? Share it with one friend today, let’s make their day warmer.
p.s.: If someone sent this to you, hey hi! You can subscribe for free, because chai (and good stories) are always better shared. 📤