With the FOMC meeting this past week and announcing another 75 basis point rate increase to the benchmark interest rate, Economics news dominates the headlines.

Economics

• The October jobs report showed an increase of 261,000 and unemployment at 3.7%  (Yahoo Finance) For all data here is the BLS release.
• The Federal Reserve announced a 75 basis point increase in the target interest rate. Here are a variety of articles covering the Fed’s statement and Jerome Powell’s press conference, and a NGPF activity too.
  • AP News
  • NY Times
  • CNBC
  • EconExtra: Are we Hawks or Doves?
• The productivity of workers in the US is down. Analysts are trying to figure out why. (WaPo-subscription may be required)
• If consumers are still buying despite higher prices, will businesses leave profits on the table to bring inflation down? (NY Times)
• Is wage growth driving inflation, or is inflation driving wage growth? (WSJ – subscription may be required) The NY Times has a similar article.
• The economic conditions in Europe worsen. Inflation soaring (10.7%). (Reuters)

Investing

• The US Treasury sold almost $1 billion of I-bonds before the rate dropped. (CNBC)
• Is the Tech sector downturn a sign of a second dot-com bust? (Axios)
• Tech sector freezing/trimming staff: Amazon hiring freeze (CNBC), Stripe layoff (CNBC), Lyft layoff (CNN), and of course, Twitter is conducting massive layoffs this week (NBC)
• Is the downturn in the market indicating a recession on the horizon? (Irrelevant Investor)
• Here is an interesting graph from JP Morgan demonstrating the impact of time on return and volatility.

Cryptocurrency

• Crypto is not dying. (Institutional Investor)

Careers

• A new law went into effect in New York State requiring job postings to include salaries. (CNBC) Companies are finding ways to get around that. (Gothamist)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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