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☆ Watch CNBC's full interview with Wharton's Jeremy Siegel on market anxiety over Fed rate hikes
  + stars: | 2023-03-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wharton's Jeremy Siegel on market anxiety over Fed rate hikesJeremy Siegel, UPenn Wharton School of Business professor emeritus of finance, joins 'Squawk Box' to discuss Siegel's expectations for next week's Federal Reserve announcement, the data the Federal Reserve needs to monitor and more.
☆ Fed returning to half-point rate hikes would be 'wrong' move, Wharton's Siegel says
  + stars: | 2023-03-09 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
The Federal Reserve should not raise interest rates by 50 basis points at its next policy meeting, said Jeremy Siegel, pressor emeritus of finance at the University of Pennsylvania Wharton School. Siegel also called the Fed's focus on worker pay "misguided," nothing that wages have increased less than inflation since the Covid pandemic began. The central bank has pointed to the hot job market as a major reason for implementing further interest rate hikes. Rather than focusing on the "terribly backward-looking" index, he said the Fed can look to falling commodity and freight prices as examples of disinflation. Siegel told CNBC in January that the U.S. has "really solved the inflation problem" and that it would be a mistake for the Fed to continue raising interest rates.
☆ Money really does buy happiness for most people, researchers say
  + stars: | 2023-03-09 | by ( Grace Dean | ) www.businessinsider.com   time to read: +4 min
It found that for the vast majority of people, money does buy you happiness. Meanwhile, happiness "increases steadily" along with income among the rest of the population, Killingsworth, Kahneman, and Mellers found. For the happiest 30% of people, happiness rises at an accelerated rate beyond $100,000. "In other words, the bottom of the happiness distribution rises much faster than the top in that range of incomes. Killingsworth, Kahneman, and Mellers noted, however, that the correlation between income and well-being was "weak, even if statistically robust."
☆ Consumers keep spending. That might not be good news for them or the Fed
  + stars: | 2023-03-06 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
And by November and December, those predictions appeared to be materializing, when data showed consumers had pulled back during the holiday shopping season. During a month chock full of suprisingly strong economic data, the Commerce Department’s retail sales and consumer spending reports far surpassed expectations. “It’s not sustainable to keep spending above their means.”Eyes on the FedHearty consumer spending at a time like this is a double-edged sword, said Ted Rossman, senior industry analyst for Bankrate and CreditCards.com. “The resilience of consumer spending is probably the biggest thing that’s pushed this recession timetable out,” Rossman said. The Home Depot (HD) warned of flat sales for 2023 as consumers continue shift spending from goods to services.
☆ Earnings figures might be conservative if unemployment rates stay low, says Wharton Professor Jeremy Siegel
  + stars: | 2023-03-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings figures might be conservative if unemployment rates stay low, says Wharton Professor Jeremy SiegelUniversity of Pennsylvania's Wharton School Professor Jeremy Siegel joins 'Closing Bell' to discuss Fed hikes, the strong jobs data changing the interest rate picture and forecasts for a slowdown in future earnings.
☆ Watch CNBC's full interview with University of Pennsylvania Professor Jeremy Siegel
  + stars: | 2023-03-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with University of Pennsylvania Professor Jeremy SiegelUniversity of Pennsylvania's Wharton School Professor Jeremy Siegel joins 'Closing Bell' to discuss Fed hikes, the strong jobs data changing the interest rate picture and forecasts for a slowdown in future earnings.
☆ Amazon's RTO backlash, Google's desk-sharing: Big companies clash with employees over the future of work
  + stars: | 2023-03-02 | by ( Cindy Perman | ) www.cnbc.com   time to read: +11 min
Amazon CEO Andy Jassy announced recently that employees would be expected to return to the office three days a week in the spring. In less than a week, 14,000 employees had joined the Slack channel and a petition started circulating, demanding the company retract the policy. General Motors, Starbucks, Apple and Twitter are among other big companies that have started calling employees back to the office. Employees resist RTO mandatesEmployers are doing their best to really sell RTO, marketing it to employees using words like collaboration, socialization and free snacks. Employees are a lot happier if they work from home one or two days a week so that boosts recruitment and retention.
☆ 'Prompt engineering' is one of the hottest jobs in generative AI. Here's how it works.
  + stars: | 2023-03-01 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +6 min
Knowing how to talk to chatbots may get you hired as a prompt engineer for generative AI. Prompt engineers are experts in asking AI chatbots — which run on large language models — questions that can produce desired responses. Unlike traditional computer engineers who code, prompt engineers write prose to test AI systems for quirks; experts in generative AI told The Washington Post that this is required to develop and improve human-machine interaction models. Prompt engineering may not be 'the job of the future'Some academics question how effective prompt engineers really are in testing AI. Companies in a variety of industries are hiring prompt engineersThat isn't stopping companies across industries from hiring prompt engineers.
☆ Ex-Amazon managers say they were pressured to cut successful workers to meet attrition goals — and faced retribution when they resisted
  + stars: | 2023-02-27 | by ( Shana Lebowitz | ) www.businessinsider.com   time to read: +17 min
Former Amazon managers say they were pressured to cut successful workers to meet attrition goals. In anticipation of Amazon's performance-review period, he told Insider, he'd kept careful notes on what his employees were doing well and where they could improve. These people said leadership would place employees in Focus even if the managers of those employees said that the workers had met or exceeded expectations. A few weeks later, he said, his manager told him he was on Pivot and had the option to leave the company with severance, which he did. Amazon managers are required to submit their performance ratings for employees in an online tool, then discuss their rationale with managers above them, he said.
☆ Bill Gates and professors at top universities agree: The future belongs to those who master AI like ChatGPT
  + stars: | 2023-02-23 | by ( Emilia David | ) www.businessinsider.com   time to read: +5 min
Even though some school districts banned ChatGPT, educators encourage students to play with AI. But some in the education sector see the intrinsic value of ChatGPT, believing that a familiarity with AI will be an essential skill in the future. The students began to ask ChatGPT more complicated questions that showed they were using AI not to do the work for them, but rather to generate and explore different ideas. The potential for ChatGPT in education is thereNew York City and Los Angeles were two of the largest public school systems that banned ChatGPT. Ultimately, ChatGPT and AI will not go away, so you might as well learn how to use it to get a head start on others.
☆ Norfolk Southern should have been prepared for this, says Wharton's Americus Reed
  + stars: | 2023-02-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNorfolk Southern should have been prepared for this, says Wharton's Americus ReedAmericus Reed, Wharton School of Business professor, joins ‘Power Lunch’ to discuss the trouble surrounding Norfolk Southern after the derailment of a train carrying hazardous chemicals in East Palestine, Ohio, on February 3.
☆ Jeremy Siegel: I admit I was shocked by the strength of the January payrolls
  + stars: | 2023-02-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeremy Siegel: I admit I was shocked by the strength of the January payrollsJeremy Siegel, Wharton School of Business professor, joins 'Squawk Box' to discuss his thoughts on the economy, whether he is surprised by the market's recent performance and more.
☆ Wharton’s Jeremy Siegel says a half-point rate hike is on the table with another strong jobs report
  + stars: | 2023-02-21 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Another surprisingly strong jobs report could prompt the Federal Reserve to hike interest rates by half a percentage point next month, according to Jeremy Seigel, a closely followed finance professor at the University of Pennsylvania's Wharton School. The jobs report came a few days after the Fed raised its benchmark interest rate by a quarter percentage point to a target range of 4.5%-4.75%, the highest since October 2007. Seigel said if the February jobs report shows a big slowdown, the central bank would raise rates by just a quarter percentage point. The solid jobs market "means the Fed might tighten, and that's why you really saw almost a standoff on the stock market now," Seigel said. In 2022, the Fed approved four consecutive 0.75 percentage point moves before going to a smaller 0.5 percentage point increase in December.
☆ Donald Trump Jr. said he lived off gas station sushi for a year when his family financially cut him off
  + stars: | 2023-02-19 | by ( Alia Shoaib | ) www.businessinsider.com   time to read: +2 min
Donald Trump Jr. said that he lived off gas station sushi for a year after graduating college. He said that his family cut him off when he chose to take a year off, but forgot to cancel his gas card. "I was cut off, the only thing that they didn't cut off because they forgot was my gas card, so I had a car and a gas card," Trump said. "I'm the guy that lived off gas station sushi for like a year." After his self-described year in "the wilderness," he returned to New York City to work for his father's Trump Organization.
☆ What CEOs Are Getting Wrong About the Future of Work—and How to Make It Right
  + stars: | 2023-02-17 | by ( Te-Ping Chen | ) www.wsj.com   time to read: 1 min
Adam Grant wants you to be less scared. A professor of organizational psychology at the Wharton School of Business and author of the bestselling “Think Again: The Power of Knowing What You Don’t Know,” Prof. Grant has spent his career researching how people work, what motivates them, and the pursuit of personal and professional happiness. Three years after Covid-19 hit, creating a vast global experiment in how work gets done, Prof. Grant says that some leaders are using this moment to figure out how to create happier, more productive workplaces. Others, he argues, are shrinking from change, and risk being left behind.
☆ Gas, airfares, car insurance: How transportation costs are impacting high inflation
  + stars: | 2023-02-17 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
Xinhua News Agency | Xinhua News Agency | Getty ImagesMeanwhile, fuel oil dipped 1.2% in January but was up 27.7% for the past 12 months. While high gas prices made headlines in 2022, prompting gas tax holidays in some states, those prices have subsided from last year's highs. Gas prices "did rise in January and that was mostly due to the weather," said Andrew Gross, spokesperson at AAA. Other transportation costs are in fluxNew vehicles are up 5.8% over the past 12 months ending Jan. 30, and up 0.2% for the month. However, used cars and trucks, a category that surged during record high inflation, are now down 11.6% for the past 12 months and down 1.9% for January.
☆ Asia markets set to open lower after U.S. inflation comes in higher than expected
  + stars: | 2023-02-15 | by ( Jihye Lee Lim Hui Jie | Jihye Lee | Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
"Milton Friedman said 12-18 months before you can get any effect on prices," Siegel said on CNBC's "Halftime Report" on Tuesday afternoon. And it's a process that the Fed has to let go through the market." To be sure, the finance professor added that he is less certain about a rate hike following January's "unbelievable" jobs report. "That would mean, more likely that the Fed would not reduce the rate as fast in the second half in the year. He added, "I don't think anyone including the Fed knows, because they plan their increases or decreases policy 10–14 days in advance.
☆ There was a lot of integration with technology in last night's Super Bowl ads: Wharton's Americus Reed
  + stars: | 2023-02-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere was a lot of integration with technology in last night's Super Bowl ads: Wharton's Americus ReedAmericus Reed, Wharton School of Business professor, joins 'Squawk on the Street' to break down the Super Bowl ad space and which spots paid off for companies.
☆ Some New York City high schoolers reportedly don't like ChatGPT-created lessons, calling them 'biased' and 'very bland'
  + stars: | 2023-02-07 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +4 min
A Bronx high school teacher asked ChatGPT to make a lesson plan and script on wearable tech, per NYT. Students followed the lesson as part of an experiment — and they were unhappy with the results. Jayda Arias, an 18-year old student, told the Times that the lesson was "very bland" and that it "reminded me of fourth grade." The classroom experiment comes as teachers at schools inside and outside of New York grapple with how to integrate ChatGPT into their curriculums. Shuman's ChatGPT lesson experiment was part of that approach.
☆ Wharton professor who gave ChatGPT an MBA-level exam says AI will be an 'amazing tool' for education
  + stars: | 2023-02-05 | by ( Aaron Mcdade | ) www.businessinsider.com   time to read: +3 min
ChatGPT passed an exam from a Wharton business school professor, performing at a B or B- level. The professor who administered the exam told Bloomberg he was impressed by the AI's concise, correct answers. Terwiesch told Bloomberg he was impressed by the technology, as the bot performed higher than average, producing B or B-minus level results. Terwiesch told Bloomberg he understands the concerns that many people have about the technology and discourages students from using ChatGPT to cheat. "We use exams or tests for the students to engage with some material," Terwiesch told Bloomberg.
☆ The era of health insurance disruptors is over
  + stars: | 2023-02-02 | by ( ) www.businessinsider.com   time to read: +10 min
Today, they're mostly the poster children of just how challenging it is to break into the insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderOscar, founded in 2012, and Bright, in 2015, set out to sell health plans to people buying coverage through the Affordable Care Act marketplace. Elevance Health, the parent company of Anthem health plans, is No. Health insurance remains overly complex and mind-numbingly frustrating. Established health insurers haven't been able to stem the rise in health costs, which are mostly determined by the prices for medical care.
☆ More beauty brands are ditching plastic packaging — and consumers are buying in
  + stars: | 2023-02-02 | by ( Korie Wilkins | ) www.businessinsider.com   time to read: +7 min
Some beauty companies are ditching plastics in favor of aluminum, glass, or plant-based materials. "Beauty products come in bottles and pots with pumps and lids, and we're noticing the first question a consumer asks is, 'Is this all recyclable?'" Purpose-driven beauty companies are ditching plastics in favor of aluminum, glass, or plant-based materials. If they use plastic, they're trying to ensure that it's designed to be recyclable (mindful of inks and coatings). As a result, shoppers, namely millennials and Gen Z, are skipping the store and ordering their beauty products online.
☆ Jeremy Siegel: We will have a 'large decrease in rates' in the second half of the year
  + stars: | 2023-02-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeremy Siegel: We will have a 'large decrease in rates' in the second half of the yearJeremy Siegel, Wharton School of Business professor, joins 'Squawk Box' to discuss the message from Wednesday's Fed announcement and more.
☆ Jeremy Siegel sees stocks rallying 10%-15% in 2023 as lower rates outweigh a mild recession
  + stars: | 2023-02-02 | by ( Scott Schnipper | ) www.cnbc.com   time to read: +3 min
"As important as earnings are, and they're very important, the discount rate is just as important if not more important," Siegel said. "If you bring down that discount rate, the market will say that a mild recession or even a moderate recession for a year, I'll take that. And that's why I think the market still has a good chance of giving that 10% to 15% gain." "I don't think rates are going to remain higher. "I don't think it's going to be tomorrow.
☆ Fraud Economy: How Current Economic Trends Lead to More Corporate Scams
  + stars: | 2023-01-31 | by ( Linette Lopez | ) www.businessinsider.com   time to read: +12 min
Get ready for what will feel like an inescapable wave of corporate fraud. And as interest rates have risen, the stock market has fallen off — which makes it harder to get dollars by whipping up new investors or offering stock. ​​Despite Scheck's assertion that the risk of a wave of corporate fraud has heightened, he didn't want to speak in historical analogies. There be icebergsOf course, there's also fraud that goes undetected in times of easy money — companies where the very act of existing means stretching the truth. Kreuger had managed to hide that he had stretched the company's finances beyond solvency by raising money on the US stock market while it was raging.
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