Fed ramps up debate over taper timing
By Nick Timiraos (Dow Jones) — Federal Reserve officials are set to accelerate deliberations at their meeting next week over how to scale back their easy-money policies amid a stronger U.S. economic recovery than they anticipated six months ago. Fed Chairman Jerome Powell has said their discussions are focusing on two important questions: When to […]
Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound
Billionaire investor Bill Ackman said Monday that the spread of the delta variant doesn’t pose a significant threat to the economic reopening, and he sees interest rates rising on the back of the big comeback. “I hope what it does is that it motivates anyone who doesn’t get the vaccine to get the vaccine. I don’t think […]
JPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund
Thursday, July 15, 2021 06:02 AM By Joanna Ossinger ARK Innovation ETF is showing bubble-like traits, Quigg says Looming increase in yields could send Cathie Wood’s fund down (Bloomberg) — Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, […]
Covid Brings Automation to the Workplace, Killing Some Jobs
LEE’S FAMOUS RECIPE Chicken, a fast-food chain in Ohio, hardly seems an obvious venue for cutting-edge artificial intelligence. But the company’s drive-thrus are showcasing technology that reveals how the Covid-19 pandemic is accelerating the creep of automation into some workplaces. Unable to find enough workers, Chuck Cooper, CEO of Lee’s Famous Recipe Chicken, installed an automated voice system in many […]
Inflation Is Now an Undeniable Reality: Authers’ Indicators
By John Authers July 13, 2021 Inflation in the U.S. is now an undeniable reality. June’s “headline” consumer price index, including everything the government puts in its representative basket of products and services we buy, stands at 5.4%, the highest in 30 years barring one month in the summer of 2008 when oil reached nearly $150 […]
UBS raises S&P 500 year-end forecast because of giant profit comeback
The second-quarter earnings season is off to a strong start, and UBS thinks the rising corporate profits should keep pushing the stock market higher for at least the next year. David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management, hiked his targets for the S&P 500, projecting the index to reach […]
Inflation expectations surge, hitting new high for New York Fed survey
Despite the Federal Reserve’s assurance that current inflation pressures won’t last, consumers see things differently, according to a survey Monday from the central bank’s New York district.
China’s producer price growth slows but inflationary pressures persist
China’s factory gate prices rose at a slightly slower pace in June, providing some reprieve for businesses though persistently high raw material costs are threatening to undermine the post-coronavirus economic recovery.
Economists Lift U.S. Growth Forecasts Even as Pace Set to Cool
(Bloomberg) — The U.S. economy is entering a new phase. Fueled by widespread vaccinations, government stimulus and the lifting of most Covid-19 restrictions, the economy likely expanded in the second quarter at one of the fastest paces in decades. But at some point, gross domestic product growth has to come off the boil and return […]
Inflation trajectory still uncertain
Wednesday, July 7, 2021 12:32 AM By Tom Orlik (Economist) and Björn van Roye (Economist) (Bloomberg Economics) — In the first half of 2021, frictions as the U.S. economy came back online helped push prices markedly above expectations. In 2H, growth in the U.S. is expected to stay high, and Europe, Japan and India will accelerate. With an […]