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☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

☆ In Atlanta, Photography of the American South Since 1845 - The New York Times
▼ + stars: | 2023-09-18 | by ( Margaret Renkl | ) www.nytimes.com time to read: +2 min

Unsurprisingly, then, it wasn’t long before the moral clarity offered by photographs became considerably less clear as politicians discovered the manipulative power of the medium when its goal is manipulation. The beauty of the resulting images by Theodore Lilienthal obscures the dark reality of postwar life for Black Southerners. And yet the most affecting photographs in “A Long Arc” are not — or at least are not merely — visual records of exploitation. The most powerful images capture the beauty and the tenderness and the self-possession of people who are living out their lives mostly invisible to the rest of the world. Or of the ramifications of an unresolved history still unspooling in this history-haunted part of the country.

Persons: Theodore Lilienthal, Charles Street, Brian Piper Organizations: Southerners, Charles Exchange, New Orleans Museum of Art Locations: New Orleans, St, America

☆ Disney's wildest ride: Iger, Chapek and the making of an epic succession mess
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +88 min

Iger told Chapek that he lived for those "two-shower days," according to people familiar with the conversation. In January 2020, Iger told Chapek the plan was back on. During his 27 years at the company, Chapek had only attended one annual meeting — as a guest in the audience. Bob Iger, Disney CEO, during a CNBC interview, Feb. 9, 2023. WATCH: Disney CEO Bob Iger's exclusive July 2023 CNBC interviewTake the 'A'During Chapek's tenure as CEO, Disney lost more than a quarter of its market value.

Persons: Elham, Bob Iger, Bob Chapek, Iger, wasn't, Chapek, Michael Eisner, —, who's, he's, Clint Eastwood, Eastwood, Arthur Bochner, Jackie Hart, Kareem Daniel, Chapek —, Eisner, Michael Ovitz, Ovitz, Bob, Disney's, Kevin Mayer, Mayer, Bryan van der Beek, he'd, Tom Staggs, Staggs, Staggs —, Steve Jobs, cajoled Ike Perlmutter, George Lucas, Rupert Murdoch, Iger's, Susan Arnold, Arnold, Peter Rice, David Paul Morris, Rice, CNBC's Julia Boorstin, Mark Parker, Mary Barra, Michael Froman, Willow, Parker, John Donahoe, Roy Disney, Walt Disney, Stanley Gold, David A, CNBC Eisner, Big Bob, Little Bob, Christine McCarthy, Patrick T, He'd, McCarthy, Iger —, Coronavirus, Gavin Newsom, Michael Kovac, curtly, Nancy Pelosi, Chuck Schumer, Ben Smith, Smith, Disney, Randy Shropshire, Agnes Chu, Ricky Strauss, Chu, Strauss, Kevin Feige, Kathleen Kennedy, Who's, Alan Bergman, Bergman, Bob Kyncl, Daniel —, Iger didn't, Daniel rankled, Daniel, Chapek didn't, James Pitaro, Jesse Grant, CNBC Chapek, Jimmy Pitaro, Zenia Mucha, didn't, Mucha, Barbara Walters, Charles Eshelman, Scarlett Johansson, Scarlett Johansson —, Florence Pugh, Natasha, Yelena, " Johansson, Bryan Lourd, Johansson, Lourd, Steven Spielberg, Al Michaels, David Muir, Robin Roberts, Michael Strahan, Spielberg, Geoff Morrell, Alan Braverman, Alan Horn, Jayne Parker, Bochner, Claire Lee, Paul Richardson, Josh D'Amaro, Ron DeSantis, Morrell, Disney Animation —, George Floyd, Reba Saldanha, Reuters Chapek, DeSantis, Nicholas Maldonado, Octavio Jones, Chapek she'd, we're, " Morrell, CNN's Chris Wallace, Kristina Schake, John Skipper, Daniel steamrolled, Latondra Newton, Newton, Charles Krupa, Pitaro, NBCUniversal's Peacock, Dana Walden, Thomas Murphy, Josh Kushner, Privately, Schake, Barack Obama, Michelle Obama, Michelle Obama's, David Dee Delgado, Kara Swisher, hadn't, Netflix's, overhiring, McCarthy hadn't, Safra Catz, Kareem, DMED, Horacio Gutierrez, Justin Warbrooke, Alexia Quadrani, Bryan Castellani, Michael Buckner, Quadrani, Lindsay Lohan, Winnie, Nelson Peltz, Catz, Donald Trump's, they'd, Walden, Gutierrez, D'Amaro, Rich Polk, Walden he'd, Iger she'd, Mickey Mouse, Mark Rightmire, haven't, Indiana Jones, Halle Bailey, Ariel, Hamilton Faber, Rich Greenfield, Bob Iger's, — Mayer, McCarthy —, doesn't, they'll Organizations: Disney, Marvel, CNBC, Bloomberg, Getty, Walt Disney, Indiana University, Michigan State University, Shanghai Disney, Man, Hong Kong Disneyland, Walt Disney Parks, Resorts, Pixar, Fox, Chapek, Nike, General, Mastercard, Foreign Relations, University of Pennsylvania, Grogan, Disney's, Fallon, ABC, ESPN, ABC News, California Gov, New York Times, Disney confidants, Hollywood, Marvel Studios, Lucasfilm, Walt Disney Television, Walt Disney Studios, Hulu, HBO Max, Walt Disney Company, YouTube, Companies, Netflix, Apple, Disney Media, Entertainment, Stanford, Rights, Junior, petulant, Filmmagic, Brunswick Group, Covid, CAA, onetime Defense Department, Century Fox, Human, Florida Gov, Republican, Disney Animation, Reuters, Human Rights, HRC, Walt Disney World, Employees, American Foundation for Equal Rights, AP, Amazon Prime, Paramount, South Pacific, Capital Cities, Dow Jones, CVS, Kingdom, Variety, Trian Partners, Charter Communications, U.S, Comcast, Charter's, MediaNews, Orange, Allen, Co, Candle Media, Advisors Locations: Burbank , California, Midwestern, Brentwood, Los Angeles, Westlake Village, Iger, Hammond , Indiana, Shanghai, China, Hong, Fox, Willow Bay, Raleigh , North Carolina, Orlando, U.S, Hulu, Iger's Brentwood, coronavirus, Brunswick, Hollywood, Hawaii, Disney's, Marvel's, Anaheim , California, Montana, Florida, Rye , New Hampshire, Chapek, Hong Kong, California, missteps, South, DMED, Burbank, New York, India, Atlantic, Sun Valley , Idaho, America

☆ Some Old-Fashioned Home-Design Manuals Are Worth Revisiting
▼ + stars: | 2023-08-31 | by ( Alexandra Lange | ) www.nytimes.com time to read: +1 min

This article is part of our Design special section about new interpretations of antique design styles. In 1868, the designer Charles Eastlake published “Hints on Household Taste,” a popular guide to outfitting the home in good taste, from the street front to the china cupboard and all the rooms in between. In his introduction, rather than taking a supportive tone, he chastises the reader. “When did people first adopt the monstrous notion that the ‘last pattern out’ must be the best? Every season brings out more manuals of household taste, from glossy-page inspirational books suitable for coffee-table display to chart-heavy how-to guides, with diagrams of immaculate closets and formulas for D.I.Y.

Persons: Charles Eastlake, ”, Jennifer Kaufmann, Buhler, Kaufmann, “ Organizations: American Office, Purdue University

☆ Biden is still trying to forgive student debt in 'a very direct confrontation' with Supreme Court, expert says
▼ + stars: | 2023-08-27 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

"This is a very direct confrontation with the Court," Rosenblum wrote at the end of June on X, the social media platform formerly known as Twitter. Annie Nova: What exactly did you find so bold about President Biden disagreeing with the Supreme Court and announcing another plan to forgive student debt? It was because of the court, Biden made clear, that Americans would not receive the relief his administration had sought to provide them. Before Roosevelt, conflict between the Supreme Court and the president was not taboo, and Supreme Court justices were often understood to be important ordinary political figures. Charles Evans Hughes, chief justice of the Supreme Court when Roosevelt was elected, had been a Republican candidate for president.

Persons: Joe Biden, Noah Rosenblum, Joe Biden's, Rosenblum, Biden, Annie Nova, mystifying legalese, Franklin Roosevelt, Roosevelt, Charles Evans Hughes Organizations: White House, Washington Post, The Washington Post, White, New York University, CNBC, Supreme, Democrats, New, Republican

Even as inflation has slowed from last summer's 40-year highs, Fed officials have been reluctant to declare their job finished until there are clearer signs the economy is slowing. If, as some argue, the interest rate that neither stimulates nor restrains the economy has shifted higher, it means Fed policy is putting less pressure on the economy than expected. Partly to let its policies play out, the Fed is widely expected to leave interest rates on hold at its Sept. 19-20 meeting. Will the bulk of policymakers feel higher rates will be needed to finish the job? "I do expect some rise in unemployment will be required to get underlying inflation into a zone where the Fed is comfortable."

Persons: Chris Albrecht, what's, Thomas Barkin, Barkin, Charles Evans, Richard Clarida, Howard Schneider, Dan Burns, Paul Simao Organizations: Caesars, Richmond Fed, Reuters, Fed, Chicago Fed, Workers, U.S, Thomson Locations: DANVILLE, Virginia, Danville , Virginia, Caesars Virginia, Danville, U.S, Jackson Hole , Wyoming

☆ Bonnie Prince Charlie’s face recreated using death masks
▼ + stars: | 2023-08-18 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —Researchers at the University of Dundee have recreated the face of Bonnie Prince Charlie as he appeared when leading the unsuccessful 18th century Jacobite rebellion as he sought to reclaim the British throne for his father. In the image, Bonnie Prince Charlie appears with blonde curly hair, wide eyes and acne on his skin, revealing a different side to the more conventionally heroic figure he has traditionally been depicted as. I did want to show a different angle with that.”The image was created using death masks of the prince, which were photographed and mapped. Using state-of-the-art software, 3D models were then produced, allowing researchers to “de-age” the prince, the university added. A portrait of Bonnie Prince Charlie painted in 1738 by Louis Gabriel Blanchet, is on display at the National Portrait Gallery in London,.

Persons: Bonnie Prince Charlie, “, Barbora, ”, Tobias Houlton, Catholic King James II, Charles Edward Stuart, Louis Gabriel Blanchet, Robert Alexander, “ I’ve, ” Veselá, Hew Morrison, Veselá, ” Houlton Organizations: CNN, University of Dundee, Derby, Jacobites, University of Locations: London, Scotland, Rome, Italy

One listing quickly became two, then a full-fledged property management business, called Be Still Getaways, in 2020. This year, Be Still Getaways is on track to bring in $3 million, according to documents reviewed by CNBC Make It. For the first two and half years of Be Still Getaways, Inlow had to work all three jobs. "I was still working full-time [outside of] Be Still Getaways, and that is how we scale." Here's how Inlow scaled her company, and how she plans to build in more work-life balance as the business grows.

Persons: Jamie Stark Inlow, Inlow, Jamie Inlow's, Mark Petruniak, we'll, Jamie Inlow, Getaways, Sydney Robertson, It's Organizations: University of Virginia, CNBC, Airbnb, Carriage, Carriage House, Cape Charles Locations: Scottsville , Virginia, Virginia, Virginia's

☆ Britain’s Most Famous Landlord, the King, Made $34 Million From Rising Rents
▼ + stars: | 2023-07-18 | by ( Jane Bradley | More About Jane Bradley | ) www.nytimes.com time to read: +1 min

So, the duchy raised rents? Records show that the Duchy raised rents by 3 percent over the last fiscal year, which is just below the pace of private rental increases that have contributed to a cost-of-living crisis. Private rents are increasing at their fastest rate on record across the United Kingdom, though the official figures only go back to 2016. The Duchy said that “refurbishment and restoration” had led to “improved rental values.”Of course, Charles is not a typical landlord. Standards of living are falling as wages fail to keep pace with rising housing and food costs.

Persons: ”, Charles Organizations: Records Locations: United Kingdom

A recently discovered letter written by President Abraham Lincoln that offers a glimpse into his thinking during the early part of the Civil War sold this week in Pennsylvania for $85,000, according to an autograph dealer. “Discovering unpublished, unknown letters of Abraham Lincoln is increasingly rare,” Mr. Raab said in a statement about the document on the Pennsylvania collection’s website. The letter, which measures 5 by 8 inches, was sold to a private collector in the southeastern United States on Wednesday, Mr. Raab said. Dated Aug. 19, 1861, the short letter is addressed to Charles Ellet Jr., an American civil engineer and Union Army colonel, who had met the president and lobbied him for the creation of a civil engineering corps. Colonel Ellet had insisted that immediate action be taken to understand the South’s infrastructure because he felt that Washington was vulnerable.

Persons: Abraham Lincoln, Nathan Raab, Raab, Mr, Charles Ellet Jr, Ellet Organizations: Pennsylvania, Union Army Locations: Pennsylvania, United States, American, Washington

☆ Mercury Systems rebuffs former CEO's unusual pay demand
▼ + stars: | 2023-06-28 | by ( David Carnevali | ) www.reuters.com time to read: +5 min

The value of the change-in-control payout hinges on Aslett's unvested shares and Mercury's stock price. In his resignation letter, Aslett said he was entitled to the change-in-control payout even though that change did not occur. Mercury said its board of directors disputed Aslett's claim to the change-in-control payout. Without it, Aslett would be entitled only to a $2.4 million severance package, a Mercury regulatory filing shows. But the contract stipulates that to be eligible for the change-in-control payout, Aslett also needed to resign for "good reason."

Persons: Mark Aslett, Marc Hodak, Aslett, Mercury, Charles Elson, William Ballhaus, Elliott, I've, Francis Byrd, David Carnevali, Svea Herbst, Bayliss, Greg Roumeliotis, Matthew Lewis Organizations: YORK, Mercury Systems Inc, Mercury, Reuters, University of Delaware, Elliott Investment Management, Alchemy, Partners, Svea, Thomson Locations: Andover , Massachusetts, New York

☆ Competing Accounts of Justice Dept.’s Handling of Hunter Biden Case
▼ + stars: | 2023-06-27 | by ( Glenn Thrush | Michael S. Schmidt | ) www.nytimes.com time to read: +1 min

At a Senate hearing in March, Senator Charles E. Grassley, Republican of Iowa, spent seven minutes grilling Attorney General Merrick B. Garland about the Hunter Biden investigation, reading a series of unusually specific queries from a paper in his hands. Did David C. Weiss, the Trump-appointed U.S. attorney in Delaware kept on under Mr. Garland to continue overseeing the inquiry, have full authority to bring charges against President Biden’s son in California and Washington if he wanted to? Had Mr. Weiss ever asked to be made a special counsel? official, Gary Shapley, oversaw the agency’s role in the investigation of Mr. Biden’s taxes and says his criticism of the Justice Department led to him being denied a promotion. He told the House Ways and Means Committee that Mr. Weiss had been rebuffed by top federal prosecutors in Los Angeles and Washington when he had raised the prospect of pursuing charges against the president’s son in those jurisdictions.

Persons: Charles E, Grassley, Merrick B, Garland, Hunter Biden, David C, Weiss, Biden’s, Gary Shapley Organizations: Republican, Trump, Republicans, Internal Revenue, Justice Department Locations: Iowa, Delaware, California, Washington, Los Angeles

King Charles enjoyed his first real birthday as monarch on November 14. The Household Cavalry and and the five regiments of foot guards – Grenadier, Coldstream, Scots, Irish and Welsh Guards – are involved. Prince William carries out what's known as The Colonel's Review -- his first since becoming Colonel of the Welsh Guards. Queen Camilla will join her husband as they watch the 1st Battalion Welsh Guards troop their color. That performance was followed at midday by a 41-gun royal salute in nearby Green Park, and a 62-gun salute over at the Tower of London.

Persons: King Charles, he’s, King George II, Charles III, George, George III, King, Edward VII, Queen Victoria, it’s, Charles, – Grenadier, Welsh Guards –, Queen Elizabeth II, Prince William, Max Mumby, He’ll, he’ll, William, Queen Camilla, – Organizations: CNN’s Royal, London CNN, Queens, Household Cavalry, Welsh Guards, Horse Guards, 1st Battalion Welsh Guards, Royal Air Force Locations: London, Britain’s Kings, London –, Buckingham, Coldstream, Scots, Green

☆ 32-year-old spent $2,000 setting up an Airbnb in her neighbor's barn—now her rentals bring in $2.88 million a year
▼ + stars: | 2023-06-14 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

The company brought in $2.28 million last year on Airbnb and rental platform Eviivo, according to documents reviewed by CNBC Make It. She paid a company to help her create hashtags and build her online presence — all for a single Airbnb property. She asked Randall to promote the Airbnb listing on her "Stays and Getaways" page, in exchange for a free stay. When a former middle school classmate reached out asking for Airbnb advice, Inlow said she'd redesign and run the property herself for $10,000. That fall, Inlow purchased another property management company, Cape Charles Escapes, to expand her rental portfolio to Virginia's coast.

Persons: Jamie Inlow's, Inlow, wasn't, Jamie Inlow, Julia Randall, Randall, Getaways, Cape Charles Organizations: University of Virginia, CNBC, Google, Airbnb, Cape, Historic, LV8 Locations: Scottsville , Virginia, Virginia, Virginia's, Staunton , Virginia

CNN —Theodore “Ted” Kaczynski, the Harvard-trained math professor who unleashed a deadly bombing campaign from a shack in rural Montana and became known as the “Unabomber,” has died, according to the Federal Bureau of Prisons. In 2021, Kaczynski was moved to the federal medical center in North Carolina, according to the bureau. Elaine Thompson/APPortrayed by prosecutors as a vengeful loner, Kaczynski published 30,000-word treatise that became known as the Unabomber Manifesto. “Justice has been done, and Theodore Kaczynski will never threaten anyone again,” Attorney General Janet Reno said in a statement at the time. Its similarity to letters he sent to his family alerted his brother, who made the decision to turn Kaczynski in.

Persons: Theodore “ Ted ” Kaczynski, ”, Kaczynski, “, ” Kaczynski, Ted Kaczynski's, Elaine Thompson, David, Michael Macor, Sally Johnson, Johnson, Judge Garland Burrell Jr, Theodore Kaczynski, ” Burrell, Susan Mosser, Burrell, he’ll, Thomas, Kelly, Hugh Scrutton, Gilbert Murray, Charles Epstein, David Gelernter, Janet Reno, ” David Kaczynski, ” Ted Kaczynski Organizations: CNN, Harvard, Federal Bureau of Prisons, Federal Medical Center, “ Staff, FMC Butner, San Francisco Chronicle, Getty, Prosecutors, University of California, Time Locations: Montana, Butner , North Carolina, North Carolina, Supermax, Florence , Colorado, Lincoln , Montana, Helena , Montana, New Jersey, Berkeley

☆ Ted Kaczynski, better known as the Unabomber, was found dead in his prison cell
▼ + stars: | 2023-06-10 | by ( Michael Belsamo | Associated Press | ) www.businessinsider.com time to read: +9 min

The infamous Unabomber Ted Kaczynski has died at age 81. "I'm confident that I'm sane," Kaczynski told Time magazine in 1999. David Kaczynski wanted his role kept confidential, but his identity quickly leaked out and Ted Kaczynski vowed never to forgive his younger sibling. Ted Kaczynski was born May 22, 1942, in Chicago, the son of second-generation Polish Catholics — a sausage-maker and a homemaker. His brother fired him and Ted Kaczynski soon returned to the wilderness to continue plotting his vengeful killing spree.

Persons: Ted Kaczynski, David, —, — Theodore, Ted, Kaczynski, Kristie, David's, Linda Patrik, Daniel Boone, Edward Abbey, Henry David Thoreau, Sally Johnson, Hugh Scrutton, Thomas Mosser, Gilbert Murray, Charles Epstein, David Gelernter, Mosser, Susan, Timothy McVeigh, Patrik, Ted Kaczynski's, Susan Swanson, Chicago . Swanson, Clint Van Zandt, David Kaczynski, Swanson, Anthony Bisceglie, Ann Arbor, ___ Balsamo, Derek Rose Organizations: FBI, Service, WASHINGTON, Harvard, of Prisons, Associated Press, Washington Post, New York Times, Industrial Society, Its, American Airlines, Yale University, Oklahoma City, Bennington College, University of Michigan, University of California Locations: Montana, Butner , North Carolina, Florence , Colorado, West Coast, nation's, Lincoln , Montana, California, North Caldwell , New Jersey, Los Angeles, Chicago, America, Ann, Berkeley, Lincoln, Miami

☆ Hedge-Fund Manager Louis Bacon Awarded $203 Million in Defamation Case
▼ + stars: | 2023-05-05 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Hedge-fund manager Louis Bacon, pictured on left, in 2013; former retail mogul Peter Nygard in 2016. Photo: Charles Eshelman/FilmMagic/Getty Images; Phillip Faraone/Getty ImagesHedge-fund manager Louis Bacon was awarded $203 million in damages and legal fees in a defamation case against former retail mogul Peter Nygard that stems from the two men’s long-running feud over neighboring properties in the Bahamas. A New York state court-appointed referee ordered Mr. Nygard this week to pay the amount, saying he orchestrated a yearslong campaign to destroy Mr. Bacon’s reputation. Mr. Nygard falsely asserted that the financier was a member of the Ku Klux Klan, had been found guilty of insider trading, was involved in the death of an employee and a family friend at his Bahamas home and had been implicated in arson, the referee said in his decision.

☆ King Charles' coronation: what changes has UK seen under new monarch?
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +3 min

God save the King! Send him victorious, Happy and glorious, Long to reign over us, God save the King." In Australia, where the British monarch is also head of state, the country has decided not to have the image of King Charles on its new $5 note. ROYAL CYPHERThe Royal Cypher is the monogram used by the monarch. Charles' cypher features his initial, title, Rex – Latin for King, and III, alongside a representation of the crown.

☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
▼ + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.

☆ Chicago Fed President Goolsbee says recent reports show inflation is moving in the right direction
▼ + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The latest batch of economic data shows positive developments on the inflation front, but the Federal Reserve's job is not over yet, Chicago Federal Reserve President Austan Goolsbee said. Goolsbee, who succeeded Charles Evans in the president role earlier this year, is a member of the Federal Open Market Committee, which sets the federal funds rate. The data showed a 1% decline in March, which is a larger fall than the 0.5% expected by economists polled by Dow Jones. The data this week has bolstered hopes of those predicting the Fed could change course on its interest rate hike campaign. "The one thing that I think we're spending too much time looking at is wage growth as an indicator of prices," Goolsbee said.

[1/7] BERLIN, GERMANY - MARCH 30: King Charles III addresses members of the German Bundestag at the Reichstag Building on March 30, 2023 in Berlin, Germany. The king, on the second day of a three-day trip to Germany, alternated between German and English for the half-hour speech, which won a standing ovation from lawmakers. Both Britain and Germany had shown "vital leadership", Charles said, praising Berlin's decision to provide large military support to Ukraine as "remarkably courageous, important and appreciated". Throughout his visit, German officials have praised his interest in environmental causes and sustainability that has shone through in the engagements he has chosen to understake. Charles had been due to travel first to France but cancelled that part of the tour due to violent social unrest there.

☆ Five Best: Books on Hollywood
▼ + stars: | 2023-03-10 | by ( Charles Elton | ) www.wsj.com time to read: +1 min

FlickerBy Theodore Roszak (1991)1. “Flicker” is the love child of Pauline Kael and Umberto Eco—a 700-page novel that combines religious philosophy and film theory, with some tantric sex thrown in. “There was no bliss to compare with the discovery of a lost von Stroheim scene or a Pabst without torn sprockets,” he muses. His search for the mysterious Castle takes him into a sinister Catholic organization called Oculus Dei, which will do anything to destroy Castle’s legacy. If “Flicker” sounds unlike anything you’ve ever read, it is—and gloriously so.

☆ Tiny homes, big problems
▼ + stars: | 2023-03-06 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +21 min

Beyond their star appeal, low-cost tiny homes like Casitas have real-world utility. The homes have been seized upon as a solution for cities like Los Angeles to house the homeless. They showed off their homes' transportability by hitching several of them to a Tesla and filming drag races between Teslas and trucks that were hooked to trailers carrying the homes. So far, though, after a little more than a year of building, the company has fabricated only about 400 homes. Even if it were churning out thousands of units, Boxabl hasn't yet received the certifications required to sell them in most states across the country.

☆ Fed should not rely too much on market reaction to guide policy, Goolsbee says
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Feb 28 (Reuters) - The Federal Reserve must supplement traditional government data and readings from financial markets with real-time, on-the-ground observations of economic conditions if it is to make good policy, Chicago Fed President Austan Goolsbee said on Tuesday. "It is a danger and a mistake for policymakers to rely too heavily on market reactions" like stock and bond market gyrations that "tell us which way the markets want the Fed to move," he said. That's slightly higher than where Fed policymakers in December signaled they would need to take the policy rate. Fed policymakers will provide updated projections on the rate path and economy at the end of their March 21-22 meeting. Fed Chair Jerome Powell earlier this month said one of the U.S. central bank's most important resources is the "haul" of information on local economies and communities gleaned from regional Fed banks like the one that Goolsbee now heads.

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