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☆ The Fed's own economists now expect a Goldilocks scenario: No recession, low inflation, and positive growth
▼ + stars: | 2023-09-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Economists from the Federal Reserve Bank of Chicago predict inflation will cool without a recession. "That model implies larger effects of monetary policy and faster policy transmission than other empirical models," the economists said. So far, based on the analysis, tighter policy has resulted in 5.4 percentage points in the level of real GDP and 7.1 percentage points in CPI. That represents about 65% and 75% of the total tightening effects on the levels of real GDP and CPI, respectively, that will occur, according to the model. Policy has reduced total hours worked by about 4 percentage points, or about 40% of the total effect that is ultimately projected.

Persons: Stefania D'Amico, Thomas King, D'Amico, King, Henry Blodget Organizations: Federal Reserve Bank of Chicago, Service, Consumer, Index, CPI Locations: Wall, Silicon

☆ Why Does Duke Have So Few Low-Income Students?
▼ + stars: | 2023-09-07 | by ( David Leonhardt | Graphics Ashley Wu | ) www.nytimes.com time to read: +31 min

Duke students, she thought, seemed more well rounded than students on some other campuses. I think it was me being a little bit naïve.” Other Duke students who identify as F.G.L.I. At Duke — as well as elite colleges that admit more low-income students — their graduation rate tends to be similar to the overall graduation rate. Over the past decade, as other elite colleges paid more attention to low-income students, they wooed some who once might have attended Duke. “Duke students are really oriented to the world,” she said.

Persons: Ben Denzer, Perkins, Duke, ” Juliana Alfonso, DeSouza, ”, Stephany Perez, Sanchez, University of Chicago —, Pell, Duke Duke, Melinda French Gates, Adam Silver, ” Gary Bennett, Grant, Bates, Brown, Pell Grant, ” Bennett, we’re, Ithaka, Yale Conn, —, Juliana Alfonso, Juliana, Duke Rice, Austin U.N.C, “, Karen Dong, ” Dong, ” Randi Jennings, Dong, Duke’s F.G.L.I, Duke —, ” Jennings, Randi, Jennings, Alfonso, David M, Rubenstein, “ It’s, ” Alfonso, Colleges don’t, Bennett, Caroline Hoxby, Christopher Avery, Louis, Holden Thorp, ” Thorp, Ron Daniels, Johns Hopkins, ” Daniels, Catharine Bond Hill, Thorp, Hopkins, Michael Bloomberg, Johns, “ Duke Organizations: Duke University, Perkins, Ivy League, Stanford, Massachusetts Institute of Technology, University of Chicago, Harvard, Yale, Princeton, Columbia, Pell Grants, Duke, Pell Grants Harvard, Penn, Cornell, Dartmouth, Brown, Chicago, U.S . News, Colleges, Midwest, California Institute of Technology, Notre Dame, Bucknell, Georgia Tech, Oberlin, Reed, Tufts, Tulane, Wake, Universities, Wall Street Journal, University of California, University of South, College, Princeton N.J, Pomona Calif, Dartmouth N.H, Stanford Calif, Caltech Calif, Amherst Mass, Grinnell Iowa, Claremont McKenna, Vanderbilt, Opportunity, Elite, Spurs, Texas North, Southern Methodist University, Davidson, California Massachusetts, Stanford Harvard, Berkeley UMass Amherst, Amherst College Pomona, University of Texas, parka, Mardi Gras, Daily, West Union, LIFE, Uber, ” Colleges, Washington University, Hopkins, Vassar College, Johns Hopkins, University of Michigan, University of Virginia, University Locations: San Antonio, South Carolina, M.I.T, United States, Durham, N.C, Georgetown, Georgia, California, San Diego, U.C.L.A, University of South Dakota, University of South Florida, America, Middlebury, Northwestern, Pomona, Swarthmore, Harvard, Texas North Carolina, Texas, Canada, Myrtle Beach, Dallas, China, New Orleans, Irish, Camden , N.J, “, St, Johns Hopkins, Wash

☆ The strong economic data may mean another year-end rate hike, says former Fed Governor Kroszner
▼ + stars: | 2023-09-07 | 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 EmailThe strong economic data may mean another year-end rate hike, says former Fed Governor KrosznerRandy Kroszner, former Federal Reserve governor and economics professor at the University of Chicago Booth of School Business, joins 'Squawk on the Street' to discuss whether the Fed will need to raise rates further, macro headwinds impacting the downward trajectory of inflation, and tracking the pace of long invariable lags.

Persons: Kroszner Randy Kroszner, University of Chicago Booth Organizations: Federal Reserve, University of Chicago, University of Chicago Booth of School Business

☆ In ‘Swing State,’ Rebecca Gilman Sees a Troubled World
▼ + stars: | 2023-09-07 | by ( Laura Collins-Hughes | ) www.nytimes.com time to read: +1 min

The playwright Rebecca Gilman moved away from small-town Alabama long ago, but a soft Southern lilt still shapes her words. In all the years she lived and worked here in her adopted city of Chicago, she remained immune to its Bill Murray accent. After more than a decade of traveling back and forth from Chicago, Gilman relocated full-time to Green County, Wis., about four years ago. Some of the plants have to be pollinated by particular butterflies. Particular butterflies have to have lupine to lay their eggs.

Persons: Rebecca Gilman, Bill Murray, Gilman, ”, “, ” Gilman Organizations: Goodman Theater, Prairie Enthusiasts Locations: Alabama, Chicago, Wisconsin, Rural Wisconsin, Green County, Wis, Swing, New York

☆ Mortgage rate tipping point: Homeowners say roughly 5% is the magic number to move
▼ + stars: | 2023-09-05 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Higher interest rates created a 'golden handcuff' effectSince it's unlikely rates will drop anytime soon, this has created a so-called golden handcuff effect. Similar to the financial incentives employers may offer to discourage employees from leaving a company, homeowners are now bound by their low mortgage rate. They don't want to move now and give up that low rate to buy at a higher rate. Between 1978 and 1981, mortgage rates similarly doubled from around 9% to more than 18%, compelling more homeowners to hold on to their homes. However, "mortgage rates weren't at record lows in the late 70s before they started to skyrocket in the early 80s, nor did home prices increase as rapidly," Channel said.

Persons: Nicole Bachaud, Bachaud, John Burns, Tomas Philipson, Bob, Terri Wood, Bob Wood Bob Wood, Terri, It's, Wood, he'd, Greg McBride, Jacob Channel Organizations: Finance, John Burns Research & Consulting, University of Chicago, White House Council, Economic Advisers, CNBC Locations: Mobile , Alabama, Tennessee, LendingTree

☆ We opened a restaurant with a no-tipping policy. We have to charge more, but it's been totally worth it.
▼ + stars: | 2023-09-04 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Vinod Kalathil and his wife recently opened the restaurant Thattu in Chicago. The restaurant doesn't take tips but instead pays servers a competitive wage. My wife and I opened our restaurant, Thattu, about four months ago on the Northwest side of Chicago. Before we opened, we talked to other restaurant owners about plans for opening a "no-tip" restaurant. We actually opened the first iteration of Thattu back in 2019 in a food hall in Politan Row.

Persons: Vinod Kalathil, Thattu, what's Organizations: Service, Labor, City, Block Club Chicago, Block Locations: Chicago, Wall, Silicon, Kerala, India, Politan, Thattu, City of Chicago

☆ The state of return-to-office policies: a post-Labor Day reset?
▼ + stars: | 2023-09-04 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —Some big-name employers are signaling they will get tough on enforcing their return-to-office mandates after Labor Day. It’s hard to say whether such moves by well-known companies signal a broader trend of employers getting serious about enforcing RTO policies. Meanwhile, one study suggests the hours employees spend at work on the days they do go in may be changing. The state of enforcementFor all the various data and research that seeks to capture the reality and impact of hybrid work policies, it’s hard to find nationally representative, statistically significant samplings of HR executives detailing their organization’s return-to-office policies or enforcement strategies. For example, the HR team at Gartner, which helps clients design and implement workplace policies, did a live poll survey of 225 of its HR clients during a webinar on May 31.

Persons: Andy Jassy, unaddressed, haven’t, webinar, “ Organizations: New, New York CNN, Labor, Amazon, Meta, Business, Merck, Kastle, Kastle Systems, Survey, Instituto Tecnologico Autonomo, Stanford University, The University of Chicago, Gartner, ” Locations: New York, Kastle, Instituto Tecnologico Autonomo de Mexico

☆ You're more productive in the office, say elite CEOs. Data seems to back them up.
▼ + stars: | 2023-09-03 | by ( Tom Carter | Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

The idea of permanent remote work is slipping away. After almost three years of relaxed work-from-home policies, CEOs are starting to drag their remote employees back to the office most days of the week. The remote work genie is out of the bottleInfluential remote work researchers, including Stanford researcher Nicholas Bloom, have been backing a flexible, hybrid approach as the way forward. Bloom previously told Insider that well-organized hybrid work is a "win-win" for companies and workers. AdvertisementAdvertisementEveryone else Insider spoke to agreed, though some said even hybrid was likely less productive than being fully in the office.

Persons: Goldman Sachs, Michael Gibbs, They've, Mark Zuckerberg, Andy Jassy, Gibbs, David Atkin, Raj Choudhury, Atkin, Ipsos, " Choudhury, Nicholas Bloom, Bloom, Choudhury, We'll, WFH, Jose Maria Barrero Organizations: Meta, Service, Companies, University of Chicago, Harvard Business School, National Bureau of Economic Research, MIT, Employees, The Washington Post, Stanford, WFH Locations: Wall, Silicon, Indian, Chennai

☆ How being a mom changes the game for elite tennis players
▼ + stars: | 2023-09-03 | by ( Eryn Mathewson | ) edition.cnn.com time to read: +6 min

If she’s successful, Wozniacki, 33, would join a short list of mothers who have reached the finals of a grand slam, or won. But the rule limits how many grand slams players can enter, something that tennis pro Taylor Townsend of Chicago would like to see changed. No matter what level of income a player earns, the training required to compete and win at the elite level in tennis is intense. “It’s certainly hard enough to win a grand slam without having a child going, ‘Mom, when are you coming back?’ ” Stubbs told CNN. “Serena … I think she wanted to win the grand slam as a mom more than anything,” she said.

Persons: Caroline Wozniacki’s, Tatiana Prozorova, Petra Kvitová, Jennifer Brady, Coco Gauff, —, Wozniacki, “, ”, ‘, she’s, Serena Williams, Olympia, Kim Clijsters, Caroline Wozniacki, Jada, Australia’s Margaret Court, Naomi Osaka, Terry Holladay, Taylor Townsend, Townsend, Rennae Stubbs, “ It’s, ’ ” Stubbs, Karolina Pliskova, “ Serena …, Christine Stromberg, She’s, Kate Ackerman, Wu Tsai, ” Ackerman Organizations: New, New York CNN, Vogue Magazine, Queens, Women’s Tennis Association, WTA, ESPN, CNN, Professional Tennis Operations, Services, Harvard University Medical School, Boston Children’s Hospital Locations: New York, Russian, Czech, Florida, Belgian, Chicago

☆ Companies like Goldman Sachs may want workers back in the office full-time, but most US execs think hybrid working is here to stay, study finds
▼ + stars: | 2023-08-31 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Most US executives don't expect a return to pre-pandemic office life, a study has found. Instead, they expect the number of hybrid and remote workers to increase. The study also found execs expected the number of fully in-person workers to continue to decrease. Despite the rise in return-to-office mandates, one study has found that most US executives expect remote and hybrid work to continue to grow. Instead, execs predicted the number of hybrid workers in their firm would increase by 2.2% over the next five years and the number of fully remote workers to increase by 1%.

Persons: Goldman Sachs, It's, execs Organizations: Service, JPMorgan, Tech, Meta, Google, Atlanta Federal Reserve Bank, University of Chicago Locations: Wall, Silicon, Stanford

☆ Chinese people are living two years longer thanks to ‘war on pollution,’ report says
▼ + stars: | 2023-08-30 | by ( Jessie Yeung | ) edition.cnn.com time to read: +5 min

China’s pollution levels in 2021 had fallen 42% from 2013, according to a new report released Tuesday, making it a rare success story in the region, where pollution is getting worse in some parts, including South Asia. The improvement means the average Chinese citizen’s lifespan is now 2.2 years longer, the report said. In 2021, Beijing recorded its best monthly air quality since records began in 2013. But, the report warned, there is still work to do as China remains the world’s 13th most polluted country. While China’s particulate pollution levels are within its national standards, they “significantly exceed” the World Health Organization’s (WHO) guidelines, the report said.

Persons: Greg Baker, China’s, ”, Health Organization’s, “ Organizations: Hong Kong CNN —, Getty, Energy, Institute, University of Chicago, Health, CNN Locations: Hong Kong, South Asia, Beijing, AFP, China, United States, Bangladesh, India, Nepal, Pakistan, Africa

But Mr. Ramaswamy’s retelling of the anecdote was sharply contradicted by the observations of a New York Times reporter who covered both events. The reporter witnessed the audience in Chicago pepper Mr. Ramaswamy about reparations, systemic racism and his opposition to affirmative action. Immigration was barely mentioned during the formal program. It was so absent that a Ramaswamy campaign aide at one point pleaded for questions on the issue. With that prompting, a single Republican consultant stood up to question Mr. Ramaswamy on his proposals.

Persons: Ramaswamy, “, ” Organizations: Chicago, New York Times, Immigration Locations: Indianola , Iowa, Chicago

☆ Rising caffeine levels spark calls for ban on energy drink sales to children
▼ + stars: | 2023-08-30 | by ( Kailyn Rhone | ) www.reuters.com time to read: +5 min

[1/2] FILE PHOTO-Prime energy drink cans sit on a shelf at Target in Brooklyn, New York, U.S., August 18, 2023. Rival products like Anheuser Busch InBev-backed (ABI.BR) Ghost energy drinks and Kim Kardashian's “Kimade” energy drink also have 200 mg of caffeine. In the U.S. and UK, no national regulations ban the sale of high-caffeine energy drinks. She added: "Any energy drink with a high dose caffeine in it, such as Prime Energy, is unsafe for children." “I got confused because when you first see the can, it’s hard to see where it says energy drink.

Persons: Kim Kardashian's, Holly Benjamin, Dr, Benjamin, Chuck Schumer, Alani, Logan Paul, KSI, Shick, ”, “, Bonnie Patten, TINA, GNC, Vanessa O'Connell, Lisa Shumaker Organizations: REUTERS, Prime Energy, Anheuser Busch InBev, Monster Energy, University of Chicago, American Academy of Child, Psychiatry, FDA, U.S, Ghost Energy, Congo Brands, American Medical Association, Walmart, Target, Energy, Kailyn, Thomson Locations: Target, Brooklyn , New York, U.S, Canada, Australia, New Zealand, Congo, Florida, Kailyn Rhone, New York

☆ Air pollution now a major risk to life expectancy in South Asia - study
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

The region, which includes the world's most polluted countries of Bangladesh, India, Nepal, and Pakistan, accounts for more than half of the total life years lost globally to pollution, the University of Chicago's Energy Policy Institute (EPIC) said in its latest Air Quality Life Index. Rapid industrialization and population growth have contributed to declining air quality in South Asia, where particulate pollution levels are currently more than 50% higher than at the start of the century and now overshadow dangers posed by larger health threats. In the densely populated New Delhi, the world's most polluted mega-city, the average life span is down by more than 10 years. Reducing global levels of lung-damaging airborne particles, known as PM 2.5, to levels recommended by the World Health Organization (WHO) could raise average life expectancy by 2.3 years, or a combined 17.8 billion life years, the report said. China, meanwhile, has worked to reduce pollution by 42.3% between 2013 and 2021, the report said, highlighting the need for governments to generate accessible air quality data to help bridge global inequalities in accessing tools to combat pollution.

Persons: Blassy Boben, Mike Harrison Organizations: DELHI, University of Chicago's Energy Policy Institute, EPIC, World Health Organization, WHO, Thomson Locations: New Delhi, India, South Asia, Bangladesh, Nepal, Pakistan, United States, Delhi, China

☆ Asia, Africa bear brunt of pollution health burden - research
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Garcia Rawlins/File Photo Acquire Licensing RightsSINGAPORE, Aug 29 (Reuters) - Despite improvements in China, air pollution across the globe continues to pose the greatest external risk to human health, with countries in Asia and Africa suffering most of the impact, new research showed on Tuesday. PM2.5 in South Asia has risen by nearly 10% since 2013, she said, cutting average life expectancy in the region by around five years. Virtually all of Southeast Asia is also now considered to have "unsafe levels of pollution", with average life expectancy cut by 2-3 years. China's average PM2.5 concentrations stood at 29 micrograms per cubic metre in 2022, but it still remains significantly higher than the WHO recommendation of 5 micrograms. "We haven't turned the corner on air pollution yet, though China's example shows us that the issue is a tractable one," Hasenkopf said.

Persons: Carlos Garcia Rawlins, Christa Hasenkopf, haven't, Hasenkopf, David Stanway, Stephen Coates Organizations: REUTERS, Rights, University of Chicago's Energy Policy Institute, EPIC, World Health Organization, WHO, Thomson Locations: Beijing, China, Asia, Africa, Bangladesh, India, Pakistan, Nigeria, Indonesia, South Asia, Southeast Asia

☆ In Chicago, Keeping the Heritage of Black Dance Moving
▼ + stars: | 2023-08-28 | by ( Emma R. Cohen | ) www.nytimes.com time to read: +1 min

On a warm July afternoon, Princess Mhoon, the director of the Chicago Black Dance Legacy Project, was sitting in a bustling cafe on the outskirts of the University of Chicago’s campus in Hyde Park. Her parents met in an African dance class, and her father was a drummer for local dance companies. So, we had cherry vitamin C — that was my candy.”Recounting her early life, Mhoon, 47, moved through a who’s who of Chicago’s rich Black dance scene. Mhoon trained in African dance with Muntu Dance Theater and learned techniques of the African American diaspora with Najwa Dance Corps, both near where she grew up on the South Side. Several of these companies are now being brought together by the Chicago Black Dance Legacy Project, an initiative that strives to help sustain Black dance makers in the city and offer lasting acknowledgment for their contributions.

Persons: Mhoon, “, ”, Katherine Dunham, Homer Bryant, ” Mhoon Organizations: Chicago Black, University of Chicago’s, Kenwood Academy, Black Arts Movement, Najwa Dance Corps Locations: Hyde Park, Chicago

☆ These four trends are shaping the gun industry
▼ + stars: | 2023-08-27 | by ( Stefan Sykes | ) www.cnbc.com time to read: +7 min

Here are four trends that are shaping the gun industry today:Market normalizationSeveral companies in the gun market are slowing down production and slashing prices as they combat material cost increases and waning demand for their weapons. Gun sales typically see a spike during presidential elections, Dionisio added. Investors in Biofire include venture capitalist Ron Conway and Peter Thiel's Founders Fund Biofire's smart gun comes as gun manufacturers increasingly look for different materials and technologies to make their products more appealing to consumers. "Smart guns can ensure that guns are accessible by their owners and no one else," said Nick Suplina, senior vice president for law and policy at Everytown, who has tested Biofire's smart gun. First-time gun purchasers during the pandemic, according to the study, were younger than previous, pre-pandemic U.S. gun owners.

Persons: Spencer Platt, Smith, Sturm, NSSF, Rommel Dionisio, Mark Smith, Christopher J, Killoy, Capital's Dionisio, Dionisio, Kai Kloepfer, Kloepfer, Biofire, they'll, Ron Conway, Peter Thiel's, Mark Oliva, Oliva, Nick Suplina, Matthew Miller, NORC, NSSF's Oliva Organizations: Getty, Wesson, Ruger, Company, Smith, Shooting Sports, Aegis Capital, CNBC, Smith & Wesson, Ruger & Company, Fund, Shooting Sports Foundation, Gun Safety, University of Chicago, America Locations: Monroe , Pennsylvania, U.S, Biofire, it's

It’s not too late to apply for financial aid or appeal the financial aid amount that was given. “It doesn’t mean that we run out of funding,” said Phil Asbury, Director of Financial Aid at Northwestern. With the financial aid office, students shouldn’t brag or boast about grades. Explain what has changed in your situationAt Emory University, “students can contact the Office of Financial Aid at any point” with what’s called “a special-circumstances appeal,” said John Leach, Associate Vice Provost for Enrollment and University Financial Aid. Inform the school’s financial aid office right away and in some cases, financial aid can increase, he said.

Persons: It’s, ”, Phil Asbury, “ Don’t, Lissett Bohannon, “ It’s, University of Chicago’s Youssef Hasweh, Hasweh, shouldn’t, what’s, John Leach, Leach, ” Leach, FAFSA, Vicki Vollweiler, Vollweiler, Miranda McCall, Duke, ” McCall, “ Organizations: CNN, Columbia University, University of Wisconsin, University of Colorado, Education Data Initiative, Northwestern University, Aid, Northwestern, University of Chicago’s, Federal Student Aid, Emory University, Financial, Enrollment, University Financial, College Financial, “ Locations: New York City, Madison, University of Colorado Boulder, United States, Illinois

☆ Photo Essay: A Historic Dallas Neighborhood Grapples With Gentrification
▼ + stars: | 2023-08-24 | by ( Azul Sordo | ) www.usnews.com time to read: +19 min

Raul Gutiérrez Alvarado (left) and his nephew, William Domínguez Gutierrez, pose for a portrait outside of their Oak Cliff home. At the time, the local media narrative was one of positive change for the neighborhood, Valderas says. (Azul Sordo for USN&WR)Before the BarrioOak Cliff was once a majority-white, working class neighborhood, annexed by Dallas in 1903. South Oak Cliff, which is largely Black and Hispanic, has a long record of neglect, well documented by Texas Monthly . This is the only photo she has of herself, which adorns the living room of her South Oak Cliff home.

Persons: Cliff, Seattle –, Ferguson, Raul Gutiérrez Alvarado, William Domínguez Gutierrez, Oak Cliff, Gutierrez, Manuel Sordo, Giovanni Valderas, Valderas, “, Ezekiel Garcia, Brianna Hinguanzo, Jose Melendez, Diana Melendez, ”, . Sandoval, Sandoval, Strausz, ” Sandoval, Tereso Ortiz, they’ve, They’ve, ” Ortiz, Claudia Rangel, Damien Olguin, Rangel, Pearlina Bates, she’s, Bates, ” Bates, ‘ Let's, Todd Williams, Sam Moss, Moss, Cliff Valderas, –, ” Valderas, Chad West, Gloria McCoy, Joann, McCoy, SaCarol Ford, Shaun Montgomery, She’s, Charles Strain, Noah Penn, ” Montgomery, Robert L, Thornton, ” Kathryn Holliday, that's, Tomorrow Bates, it’s, ‘, ” Pearlina Bates Organizations: DALLAS, U.S ., U.S . As Texas, USN, Dallas Morning News, National Community Reinvestment Coalition, Dallas, San, Texas Woman’s University, Oak Cliff, cleats, Bishop Arts, Institute, Ku Klux Klan, D Magazine, “, Penn State University, Bishop Arts District, Casa, Blacks, New York City, Texas Woman's University, Dallas County, City Council, Chad, Greater El Bethel Missionary Baptist Church, Tenth, Historic, Tenth Street Residential Association, Greater El Bethel Church, Ninth Ward School, Ku Klux, Dallas Observer, American Institute of Architects, University of Illinois, Tenth Street, Greater El Bethel Baptist Missionary Church, Sunday, Texas Monthly, Cliff Locations: Dallas, U.S, U.S . As, Seattle, Lawndale, Chicago, Missouri, Dover , New Jersey, Michocán, Mexico, Oak, San Francisco, Denver, Boston, North Oak, Jefferson, “ Texas, Black, “ Barrio America, American City, South Dallas, Oak Cliff, ”, Casa Guanajuato, Dallas from Louisiana, –, Kiest Park, Texas, Melba, Greater El Bethel, Van Buren

☆ The hidden consequence of the return-to-office crackdown — more workers will lose their jobs
▼ + stars: | 2023-08-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

The push to get workers back to offices could put millions of jobs at risk if people don't comply. What makes this even more difficult to swallow for Meta employees is just how quickly Meta's tone has changed. In June, they were informed about the need to come into the office three days a week from September 5, per The Information. AdvertisementAdvertisementAmazon is making a similar play to Meta, with a return-to-office strategy that involves scare tactics. But since few people can afford to be out of a job right now, employers may get their way.

Persons: they'll, Zuckerberg's Meta, Lori Goler, Goler, Andy Jassy's, Insider's Linette Lopez Organizations: Labor, Stanford University, University of Chicago, MIT, ITAM University, Meta, Wall, Deloitte, Workplace Intelligence Locations: Silicon Valley, Silicon, Wall, Mexico, East Coast

☆ The Fed's next move after raising rates to fight inflation
▼ + stars: | 2023-08-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some investors are betting on rate cuts as soon as early next year, perhaps on expectations that the economy might soon deteriorate. If unemployment spikes because of higher interest rates, for example, the Fed would likely cut rates to stem job losses under its mandate of maximum employment. The Fed’s tough talk has rattled the bond market, helping push up long-dated yields. In addition to the possibility of cutting rates because of an economic downturn, the Fed could also cut rates if inflation slows too much. “If the Fed sees that inflation goes below the 2% target, they could start decreasing interest rates, but I don’t think they are going to start decreasing interest rates until that happens,” said Eugenio Alemán, chief economist at Raymond James.

Persons: there’s, Rather, Austan Goolsbee, Mike Hackett, they’ve, ”, Eugenio Alemán, Raymond James, Melissa Brown, China’s ‘ Lehman, Laura, Mengchen Zhang, Technology —, Zhongrong, Read, Thomas Barkin, Michelle Bowman, Kansas City Fed’s, Jerome Powell, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Federal, Federal Reserve Bank of Chicago, Treasury, Nationwide, CNN, Fed, Service, KBC Corporation, Xianheng, Science, Technology, National Association of Realtors, Body, Nvidia, Kansas City, Global, US Commerce Department, Labor Department, Central Bank Locations: Washington, “, China, BJ’s, Abercrombie, Kansas

☆ Nvidia, key Powell speech to take center stage next week in midst of Wall Street's August woes
▼ + stars: | 2023-08-18 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The week ahead will "revolve around three things," Infrastructure Capital Management CEO Jay Hatfield remarked on the week ahead. "Nvidia's earnings, Nvidia's earnings and, to a lesser degree, Jackson Hole." Nvidia earnings Many investors expect Nvidia will beat expectations for the second quarter when it reports results next Wednesday . More commentary from Jackson Hole If Nvidia is the key microeconomic event next week, Jackson Hole will dominate macroeconomic discussion. Powell delivers his address at the annual central bank forum hosted by the Kansas City Fed next Friday morning.

Persons: Jerome Powell, Jay Hatfield, Jackson, Management's Yung, Yu Ma, Hans Mosesmann, Hatfield, Powell, Ross Mayfield, Ray Farris, Fed Governor Bowman, Michael Bloom Organizations: Federal, Infrastructure Capital Management, Dow, Nasdaq, Treasury, Fitch, Federal Reserve, BMO, Nvidia, Rosenblatt Securities, Infrastructure Capital Management's, Kansas City Fed, Fed, Infrastructure Capital, Credit Suisse, Richmond Fed, Federal Reserve Bank of Chicago, PMI, New, Body, Devices, Autodesk, Chicago, . Kansas City Fed Manufacturing, Intuit, Ulta Locations: , Wyoming, China, Infrastructure Capital Management's Hatfield, Powell, . Kansas, Michigan

☆ The story behind Uline, the packaging powerhouse whose reclusive billionaire owners use their fortune to influence American politics
▼ + stars: | 2023-08-18 | by ( ) www.businessinsider.com time to read: +7 min

Every company has to start somewhere, and for Uline, that beginning was 1980 in the Illinois basement of Dick and Liz Uihlein. Dick Uihlein started Uline to sell a product called a carton sizer, "one of the neatest little tools I'd ever seen." Bit by bit, the Uihleins added more packing supplies to their selection and slashed delivery times to the minimum — a decade before Jeff Bezos launched Amazon. "It's weird to develop a love of corrugated boxes and shipping supplies, but I really enjoy it," Liz told the Milwaukee BizTimes in 2020. The Uihlein family as featured on the Uline website.

Persons: Uline, Liz, Dick Uihlein, Donald Trump, there's, Forbes, Uline wasn't, Dick, Liz Uihlein, Schlitz beer's, Jeff Bezos, Scott Walker, Ron Johnson, Elizabeth Uihlein, Jacob Peters, Paul Morigi, Ron DeSantis, ProPublica, it's, Ronald Reagan Organizations: Service, Stanford, National, Milwaukee BizTimes, White House, Politico, isn't, ProPublica Locations: North America, Wall, Silicon, Illinois, Chicago, Pleasant Prairie , Wisconsin, Wisconsin, Florida, Ohio

☆ What Wall Street needs to know about UAW talks, a potential strike, and what it could all cost
▼ + stars: | 2023-08-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

AEG estimates the total economic loss by calculating potential losses to UAW workers, the manufacturers and to the auto industry more broadly if the sides cannot reach tentative agreements before the current contracts expire. $825 millionThe UAW has more than $825 million in its strike fund, which it uses to pay eligible members who are on strike. The strike pay is $500 per week for each member – up from $275 in 2022. Assuming 150,000 or so eligible workers, that's all-in weekly strike pay of about $75 million. The UAW is scheduled to hold a procedural strike authorization vote next week, which would grant union leaders the ability to strike, if warranted.

Persons: Michael Wayland, Warren Buffett's Berkshire Hathaway, Shawn Fain, there's, Melissa Atkins, Kristin Dziczek, Rebecca Cook, Stellantis, Fain, Joe Biden, Leah Millis Organizations: United Auto Workers, General Motors, Hamtramck Assembly, CNBC DETROIT, U.S, GM, Ford Motor, New UAW, UAW, Detroit, Bloomberg News, Federal Reserve Bank of Chicago's, Sterling Heights Assembly, Center for Automotive Research, Fiat Chrysler, Ford, Anderson Economic Group, AEG, Deutsche Bank, Reuters Locations: Detroit, Hamtramck, Omaha, Federal Reserve Bank of Chicago's Detroit, Sterling Heights, Sterling Heights , Michigan, U.S, Michigan, Warren , Michigan

☆ As recession fears fade, we may be experiencing a 'richcession' instead — here’s what that means for you
▼ + stars: | 2023-08-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"Although we are not in an overall recession yet, the demand for and wages of lower-income groups are outpacing higher-income groups." But there still aren't enough workers to fill open positions in the service industry and the unemployment rate remains near a 50-year low at just 3.5%. What a 'richcession' means for consumers"Recession is a loaded term," said Jacob Channel, senior economist at LendingTree. "White-collar jobs might not be as plentiful as they were last year, but they're still around." "On the contrary, most current data indicates that despite numerous headwinds, the broader economy is doing remarkably well, all things considered," he added.

Persons: Tomas Philipson, Jacob Channel Organizations: University of Chicago, White House Council, Economic Advisers, Digitalvision, Challenger

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