Today, we present a guest post written by David Papell and Ruxandra Prodan-Boul, Professor of Economics at the University of Houston and Economics Lecturer at Stanford University. The Federal Open Market Committee (FOMC) lowered the target range for the federal funds rate (FFR) by…
Photo by Brooke Cagle. Today marks the start of the final quarter of 2024 and I want to help you finish the year strong. So, here’s a proven way to significantly increase your sales. Let’s go. You’ve connected with a prospective…
Mr. Ahuja, president and chief operating officer of Sony Pictures Entertainment, will succeed its current chief executive, Tony Vinciquerra.Sony Pictures Entertainment said on Monday that its chief executive, Tony Vinciquerra, will step down at the beginning of next year and be…
From Bloomberg Economics: I’m not sure if the calculations include the expansionary effects of spendings billions of dollars on a the infrastructure (i.e., “System der Konzentrationslager”) necessary to implement the mass deportation. The figure associated with deportation of undocumented immigrants is…
We have weekly gasoline prices through week ending 9/30: What’s in store for the future? Oil futures and gasoline futures (RBOB) are in backwardation.
President Biden’s yearlong on-ramp to help federal student loan borrowers ease back into repayment ended on Sept. 30.It’s been one year since federal student loan payments have resumed after a 42-month pandemic-related pause, but borrowers have been receiving one benefit: Missed…
So, will we have a ticker-tape parade to celebrate V-I — victory over inflation — Day? I guess not, but we appear to have pulled it off. The Federal Reserve’s preferred measure of consumer prices rose only 2.2 percent over the…
Hurricanes typically weaken over land. But if the ground is already wet from earlier rains, storms can receive an extra jolt that keeps them churning.As rescue efforts continue across the Southeast after Hurricane Helene, scientists are starting to zero in on…
Wisconsin GDP grew at 4.2% SAAR in Q2. The 2023Q4 figure was raised 2.7% by the annual update (the corresponding figure for US GDP was 1.2%). Figure 1: Wisconsin GDP, post-update (bold dark blue), pre-update (light blue), and Wisconsin Economic Outlook…
The Federal Trade Commission said the oil giant could acquire the smaller company as long as the chief executive of Hess did not join its board.The Federal Trade Commission said on Monday that it would let the oil giant Chevron acquire…
The Federal Reserve cut interest rates by a higher-than-expected half point at its September meeting, marking the first rate cut in over four years. The Fed’s range now sits between 4.75 and 5 percent, which is the lowest we’ve seen since…
The deal, which is subject to regulatory approval, would create one of the largest pay-TV distributors in the U.S. The companies were blocked in an attempt to merge in 2002.DirecTV said on Monday that it had reached an agreement to acquire…
Quote of the Day "(T)he more explicitly someone uses Buffett’s name to sell you something, or just to get you to click, the less I’d trust it." (Spencer Jakab) Chart of the Day Chinese stocks finished the quarter strong. (chart via…
The Ratcliffe-on-Soar plant was the last surviving coal-burning power station in a country that birthed the Industrial Revolution and fed it with coal.Britain, the nation that launched a global addiction to coal 150 years ago, is shutting down its last coal-burning…
CBS is experimenting with a novel way to offer real-time fact-checking of the vice-presidential debate on Tuesday. Just don’t expect the moderators to frequently jump in.The journalistic dilemma of how to fact-check national candidates on the debate stage has cropped up…
Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at the best tool for client retention. Quote of the Day "So far, the market for AI-assisted financial advice is…
Gov. Gavin Newsom’s decision to veto wide-ranging set of rules for artificial intelligence companies underscores the political difficulty of policing the technology.Gov. Gavin Newsom said he was convening experts to help devise guardrails on A.I. for the state, after vetoing a…
One of the most significant developments to come out of the pandemic, if not the greatest, was the shift to remote work for millions of employees. Beginning in March 2020, businesses quickly adapted out of necessity, keeping their operations afloat with…
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Can you spot what’s wrong in the image below? Please post your answer as a comment. This is another common error. I post these challenges to raise awareness of the importance of proofreading. Related posts
No one has ever restarted an American nuclear reactor that was seemingly closed for good. But with electricity demand spiking, interest is growing.The Energy Department said on Monday that it had finalized a $1.52 billion loan guarantee to help a company…
The network is again financing and releasing documentary series and films after backing away from the genre two years ago.When the filmmaker Daniel Roher won an Oscar last year for his feature documentary “Navalny,” about the Russian dissident Aleksei Navalny, it…
Chanel has taken a stake in MB&F, the latest example of how customer enthusiasm for artisanal timepieces has prompted luxury groups to look for partners.In 2005, when Maximilian Büsser founded his avant-garde watch brand MB&F, he became an early champion of…
More than 1,400 feet below an Arizona pine forest, miners are blasting tunnels in search of a radioactive element that can be used to make electricity.Two states north, in central Wyoming, drillers have been digging well after well in the desert,…
By Dr. Jim Dahle, WCI Founder Bond investing, though it's dramatically safer than investing in stocks, real estate, or speculative investments, still involves risk. I'm always amazed to run into people who feel like bonds are hard to understand. The risks…
When several prominent journalists resigned this month from the British newspaper over false news articles, they also raised a broader question: Who owns it now?For decades, members of Britain’s Jewish population have marked life’s milestones by taking out notices in The…
The companies are in talks to create one of the largest pay-TV providers in the country. In 2002, the U.S. government blocked a similar deal.Business has gotten only more difficult for Charlie Ergen, the founder of the satellite TV giant Dish,…
With apologies to Kramer’s boss in Seinfeld. From Oren Cass’s “Trump’s Most Misunderstood Policy Proposal: Economists aren’t telling the whole truth about tariffs,” The Atlantic: Their first mistake is to consider only the costs of tariffs, and not the benefits. Traditionally,…
The country is in the black, overall, according to Friday’s release. Battleground states outlined in red. Source: BEA (27 September 2024), as edited by author. Note that battleground states, except NV, are exceeding the national growth rate of 3.0% in Q2.
Here’s the letter in support of Harris. Here’s the letter in support of Trump (2020). If anybody knows of a more recent letter of support for Mr. Trump, please tell me.
Quote of the Day "It’s possible to be humble and learn from other people while also recognizing that the best strategy for you is the one closest aligned with your unique personality and skills." (Morgan Housel) Chart of the Day It’s…
My Sunday morning look at incompetency, corruption and policy failures: • Messing Up the Closest Thing to a Sure Thing in the Stock Market: Index funds are a great way to match the performance of the market. So why do so many…
A panel at the Athens Democracy Forum explores how and whether traditional news organizations can regain the influence and trust that once defined them.This article is from a special report on the Athens Democracy Forum in association with The New York…
By Josh Katzowitz, WCI Content Director A few months ago, Redfin, the national real estate company, ran a housing market report with a blaring headline: “Buying a Home Costs More Than Ever.” Maybe that’s true; maybe it isn’t. People, after all,…
“You Are All $500 Billion Richer Now According To A Revised Biden Admin Spreadsheet” (9/27/2024). I won’t dissect the non-arguments in the article. I’ll just observe that the GDP annual update has brought the GDP series much more in line with…
A Main Street Agenda town hall meeting on inflation to be held Tuesday, Oct. 15, from 6 to 8 p.m. at the Clinton Rose Senior Center, 3045 N. Dr. Martin Luther King Jr. Drive. Register here. From the Milwaukee Journal Sentinel:…
With latest available data: Figure 1: Misery Index, calculated as simple sum of unemployment rate and 12 month CPI inflation rate. NBER defined peak-to-trough recession dates shaded gray. Source: BLS via FRED, NBER, and author’s calculations. Note that Misery was 9.7%…
Upward revisions for both indices from University of Michigan Survey of Consumers: Figure 1: University of Michigan Consumer Sentiment for Democrats (blue, left scale), for Independents (gray, left scale), for Republicans (red, left scale), Shapiro, Sudhof and Wilson (2020) Daily News…
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. An earlier version appeared at Project Syndicate. September 27, 2024 — Jimmy Carter…
On Saturdays we catch up with the non-finance related items that we didn’t get to earlier in the week. You can check out last week’s edition here. Have a great weekend! Quote of the Day "Time is under appreciated when it…
Ms. Khan’s term as the chair of the Federal Trade Commission ended Wednesday. In a wide-ranging interview, she discussed her aggressive approach to antitrust and its critics.From Wall Street to Silicon Valley, everyone wants to know what’s next for Lina Khan.On…
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • Can AI Talk People Out of Conspiracy Theories? When presented by a chatbot, believers were more open to…
We were bound to fail. We just didn’t know it when we started our quest.When our latest car insurance premium notices landed, we were shocked: Tara’s premiums had risen more than 62 percent to $2,315 since late 2020. Ron, with a…
By Dr. Jim Dahle, WCI Founder You've probably heard the phrase Buy This, Not That before. There's a book with that title. WCI Columnist Francis Bayes even did a version of this idea in 2023. Today, we're going to go over…
Featured image by Gerd Altmann via Pixabay It’s a common adage that you need to “spend money to make money,” and that’s definitely true in the context of marketing. But spending money excessively or blindly isn’t necessarily going to benefit you.…
With August data: Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan), supercore CPI (pink), services supercore (light green), PPI core (red), and PCE core (green), per Eeckhout (2023), T=12, a=4. Horizontal chartreuse dashed line at 2% PCE inflation target (for…
Still hard to see the recession in (preliminary) August 2024 data. Figure 1: Nonfarm Payroll (NFP) employment from CES (blue), implied NFP from preliminary benchmark (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in Ch.2017$ (bold…
The sale, which requires a judge’s approval, would help compensate foreign companies owed billions of dollars by the government of Venezuela, which owns Citgo.Elliott Investment Management was named on Friday as the leading contender to acquire Citgo Petroleum, the oil refining…
Featured image by Drazen Zigic on Freepik Contracts from the public sector could help you expand your business and lead to more revenue. Read on to learn more. RELATED ARTICLE: VISION TO REALITY: CRAFTING A ROADMAP TO BUSINESS GROWTH As a…
From hurricanes to wildfires, a new generation of technologies could help utilities better plan for the risk of extreme weather to their electric grid.More than 4 million people were without power on Friday morning after the enormous ring of wind and…
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