May 10 (Wednesday)
Latest Morning Briefing Executive Summary: Inflation During & After The Pandemic
The inflation problem of recent years has proven to be transitory for consumer goods but persistent for consumer services. Even so, overall inflation has been moderating this year. In our soft-landing economic scenario (60% odds), we see the PCED rate falling into the 3.0%-4.0% range over the remainder of 2023 and below 3.0% in 2024 and 2025. Consumers’ inflation expectations aren’t so sanguine. In advance of this week’s inflation reports, we review recent developments on the inflation front. … Also: Wage inflation has been moderating too, but it’s still higher than Fed Chair Powell would like to see.
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YRI
Daily Markets Overview
Replay of Dr. Ed’s webinar on May 8.
Markets
ChatGPT Is Causing a Stock-Market Ruckus | W
Federal Reserve
Fed’s John Williams says rates could be increased if inflation doesn’t come down | C
Bullard Discusses Recent Policy Rate Increase, Outlook for U.S. Economy | St Louis Fed
Where Might Inflation Head? | St Louis Fed
Understanding the Recent Behavior of Inflation | St Louis Fed
US courts are practicing medicine without a license — for a fix, look to the Fed | The Hill
US I
Home Prices Fell in Third of the U.S. During First Quarter | W
US small business sentiment slumps to more than 10-year low | R
Metaverse could contribute up to 2.4% of US GDP by 2035, study shows | R
The Decline of the Five-Day Commute Is a Boon to Suburban Retail | W
US II
White House Debt-Ceiling Meeting Fails to Yield Breakthrough as Deadline Nears | W
Republicans defiant after Biden debt ceiling meeting | R
Debt ceiling crisis: Why Biden needs to rethink his strategy as default looms | Vox
When Is the Debt Ceiling Deadline and What Happens if the Limit Isn’t Raised? | W
China
China Finally Has a Rival as the World’s Factory Floor | W
Chinese Exports Cool in Latest Warning Sign on Global Trade | W
Japan
What Japan Could Teach The U.S.—And The World—About Regulating Crypto | FO
Industries & companies
Banks: Betting Against Banks Brings Reward and Backlash | W
Energy: The Most Valuable U.S. Power Company Is Making a Huge Bet on Hydrogen | W
Media: Disney’s Iger may have to add slowing growth to his turnaround checklist | R
Tech: The Most Valuable U.S. Power Company Is Making a Huge Bet on Hydrogen | W
Technology
Amazon opens new robotic fulfillment center | Chain Store Age
Beyond markets
Economist helps decide when recessions begin, end. Why that matters | C
