Actively managed exchange-traded funds (ETFs) are projected to quadruple their assets to $4 trillion globally by 2030, according to BlackRock. 

These funds are gaining traction, making up 70% of U.S.-listed ETF launches in the first half of 2024, driven by investor demand for strategies that can navigate market volatility and offer potential outperformance. The growth of active ETFs has been facilitated by a 2019 SEC regulatory change, which lowered barriers to entry and encouraged innovation.

Despite their higher costs, active ETFs are increasingly popular for their tax efficiency and flexibility. BlackRock projects the overall ETF industry will double its assets to $25 trillion by 2030.

Finsum: Volatility is driving a lot of active investment inflows, but this trend is set to continue as so much uncertainty remains. 

The Federal Reserve is expected to hold interest rates steady during its two-day policy meeting this week but signal potential rate cuts as soon as September, acknowledging that inflation is nearing the 2% target. 

Recent data shows easing price pressures, with the PCE price index rising at just 1.5% annualized since March. Fed officials may change their inflation description from "elevated" to "moderately elevated," reflecting confidence that inflation will continue to decline. 

Policymakers believe rate cuts might be necessary before inflation fully returns to the target. Fed Chair Jerome Powell will hold a press conference following the policy statement release detailing the future path of policy. 

Finsum: The market is still pricing in two more cuts by the end of the year, we’ll see if that comes to fruition. 

The New York Times has curated a list of the 100 best books of the 21st century, showcasing a diverse range of voices and genres. This prestigious selection includes works of fiction, non-fiction, poetry, and graphic novels that have made a significant impact on literature and culture. 

Topping the list is “My brilliant Friend: A Novel” by Elena Ferrante, who features three books on the list. Michael Pollan's "The Omnivore's Dilemma," book is a deep dive into the complexities of the modern food industry. The list also features influential memoirs such as "Educated" by Tara Westover and groundbreaking novels like "The Road" by Cormac McCarthy. 

Each book on the list is celebrated for its storytelling, insight, and contribution to the literary landscape. This compilation serves as a testament to the rich and evolving nature of contemporary literature.

Finsum: The number nine and ten spots highlight two wonderful dystopian novels “Never Let Me Go” and “Station Eleven”