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REUTERS/Michael Swensen Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - United Auto Workers (UAW) members rallied against the Detroit Three automakers in multiple U.S. states on Thursday afternoon as Friday's deadline loomed for a threatened expansion of the union's strikes. The UAW last week launched unprecedented, simultaneous strikes at one assembly plant each of General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). UAW workers want to end a tiered wage structure that they say has created a large gap between newer and older employees, forcing some to work two jobs to make ends meet. On Thursday morning, Fain posted a video message on X, formerly known as Twitter, to UAW members about the Friday deadline, showing scenes from several Hollywood movies with the characters saying "tick tock." Fain has said Detroit automakers have not shared their huge profits with workers while enriching executives and investors.

Persons: Phaedra Grant, Michael Swensen, Ayanna Dixon, Shawn Fain, Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre said, Ram, Morgan Stanley, Adam Jonas, Eikon, Mark Reuss, Reuss, Tesla, Bianca Flowers, Hyunjoo Jin, David Shepardson, Ben Klayman, Kannaki, Peter Henderson, Jamie Freed, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, Rights, United Auto Workers, Detroit Three, General Motors, Chrysler, Reuters, GM, GM's, Silverado, Detroit, Detroit Free Press, Toyota, Tacoma, EV, Thomson Locations: Louisville , Kentucky, U.S, Chicago, San Francisco, Louisville, Washington, Detroit, Bengaluru

☆ Members of Congress are so tired of government shutdowns that some want to pass a bill to get rid of them forever
▼ + stars: | 2023-09-22 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Congress has yet to reach an agreement on avoiding a government shutdown by September 30. Politico reported that legislators in the House and Senate are passing around a letter calling for a vote on legislation to get rid of shutdowns. Under that law, a two-week extension of funding would automatically kick in should Congress not pass appropriations bills in time. Congress would also not be allowed to recess or adjourn for over 23 hours during that shutdown period. "There's Democrats talking to Democrats, Republicans talking to Republicans about the bill.

Persons: James Lankford, Maggie Hassan, SCOTUS, Lankford, Chuck Schumer, Kevin McCarthy, McConnell, It's, Schumer Organizations: Service, Politico, Act, Republican, Democratic, Republicans, Independents, CNN, Management Locations: Wall, Silicon, shutdowns, —

If price growth remains stubborn, the central bank could hike rates again, which would keep mortgage rates elevated. Mortgage Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

Persons: Dan Richards, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky, ARM Locations: Chevron

WASHINGTON (AP) — The Federal Reserve is set to leave its key interest rate unchanged Wednesday as it seeks to guide the U.S. economy toward a “soft landing" of cooling inflation without triggering a deep recession. Yet with inflation pressures still underlying the economy, Powell won't be declaring victory on Wednesday, when the Fed's latest policy meeting ends. And those projections will likely also show that the Fed envisions fewer interest rate cuts next year than it did in June, when it projected three rate reductions in 2024. Even as the central bank is winding down its rate hikes, Powell and other Fed officials have said their key rate could remain at its peak well into next year. Powell and other central bank officials have said that while they are making progress, they aren't yet done.

Persons: Jerome Powell, Powell, it's Organizations: WASHINGTON, Federal, Fed, United Auto Workers, Big, European Central Bank, Bank of England, Bank of Japan Locations: U.S, Ukraine

☆ Fall Covid shot rollout gets off to a bumpy start as some patients see insurance delays
▼ + stars: | 2023-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The rollout of a new round of Covid vaccines in the U.S. is off to a bumpy start as some patients report delays in health insurance coverage for the shots. Private insurance plans and government payers such as Medicare are required to cover the new jabs from Pfizer and Moderna , which became available late last week. It also comes after a huge shift in how Covid vaccines are covered in the U.S. Previously, the federal government purchased Covid vaccines directly from manufacturers at a discount to distribute to all Americans for free. Sarah Lindsey, an owner of a Florida-based jewelry store, called on her own insurer to add the new Covid shots to its formulary.

Persons: Sarah Lindsey, it's Organizations: Pfizer, Moderna, Medicare, Medicaid Services, CVS, U.S, CNBC Locations: U.S, Florida

Mortgage rates are down across the board, and 30-year mortgage rates have dropped 16 basis points from where they were a week ago. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Decrease (-0.16%)The current average 30-year fixed mortgage rate is 6.89%, down 16 basis points since this time last week. 15-Year Fixed Mortgage Rates Essentially Flat (+0.01%)The average 15-year mortgage rate is 6.29%, a single basis point increase from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in September 2022.

Persons: Jerome Powell's, Powell, you'll, It's, refinance Organizations: Federal, Zillow, FHA Locations: Chevron

☆ Stocks Tick Up in Quiet Session Ahead of Fed Decision
▼ + stars: | 2023-09-19 | by ( Sam Goldfarb | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: dow

☆ Morning Bid: Messy market mood as oil irks
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +5 min

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. The crude spur is more supply than demand related and most fingers point to the latest output cuts from Saudi Arabia and Russia. Headline inflation rates are already backing up as a result of the energy price rebound and U.S. gas pump prices rose last week to $3.88 per gallon - the highest since October 2022. Stock markets around the world were mixed to positive and U.S. futures were up a fraction ahead of Wall St's open. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, Mike Dolan, Claudio Borio, Mehmet Simsek, Goldman Sachs, Christina Fincher Organizations: REUTERS, U.S . Energy, Administration, Federal Reserve, Bank for International, U.S, Economic, American Chamber of Commerce, Stock, Kingfisher, . Federal Reserve, Treasury, Turkey's, Goldman, Reuters Graphics, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Saudi Arabia, Russia, Treasuries, China, Shanghai, Europe, Canada, New York

☆ 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.

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

☆ 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.

As a result, they’re almost sure to leave their key interest rate unchanged when their meeting ends Wednesday. Claudia Sahm, a former Fed economist, said she thinks a “soft landing,” in which the Fed manages to curb inflation without causing a recession, remains possible. But she cautioned that inflation might stay higher for longer than the central bank expects. Or, she suggested, the cumulative effects of the Fed's 11 rate hikes could ultimately tip the economy into recession. “I expect we’ll need to hold rates at restrictive levels for some time,” said Susan Collins, president of the Federal Reserve Bank of Boston.

Persons: they’re, Jerome Powell, Claudia Sahm, ” Sahm, “ They’re, ”, Christopher Waller, Powell, “, They're, Jose Torres, Susan Collins, Lorie Logan, William English Organizations: WASHINGTON, Federal, Wall Street, Fed, Fed's, Governors, CNBC, Interactive, Federal Reserve Bank of Boston, Dallas Fed, European Central Bank, Bank of England, Bank of Japan, “, Yale School of Management Locations: Jackson Hole , Wyoming, Ukraine, U.S

☆ Meet the typical Hong Kong millennial: They're supporting their parents, can't afford to buy homes, and have zero interest in moving to mainland China
▼ + stars: | 2023-09-18 | by ( Faye Bradley | ) www.businessinsider.com time to read: +19 min

He earns 1.5 million Hong Kong dollars a year, or $191,000, including the base salary and three months' bonus — well above the average annual salary in Hong Kong. A protester on June 12, 2019 in Hong Kong when crowds gathered in central Hong Kong as the city braced for another mass rally. Anthony Kwan/Getty ImagesThe Hong Kong protests took place between 2019 and 2020, with many students and adults taking to the streets to fight back against the government's decision to introduce an extradition bill between Hong Kong and China. University of Hong Kong was ranked 31st and Chinese University of Hong Kong was 45, on the World University Rankings in 2023. Hong Kong millennials struggle to prioritize well-being, according to a survey run by British health insurance company Bupa.

Persons: Hong Kong's, Ken Ho, Hong Kongers, Ho, Kongers, —, hasn't, Summer Ng, Tau Kok, Ng, Hong, Kong's, Getty, Hong Kong millennials, it's, Aniqah Bhatnagar, Bhatnagar, Wilson Ho, Wilson Ho Wilson, Kai Tak, Anthony Kwan, Xu Huang, Huang, millennials, Gen Zs, Morgan McKinley, Zurine Lau, I'm, Yuen Long, Lau, Nick Shin Nick Shin, Tai Koo, They're Organizations: Service, University College London, Imperial College London, Fidelity Investments, Hong, HK, BBC, Property Management, Hong Kong, Hong Kong Baptist University, Deloitte Global, Statistics Department, University of Hong Kong, University of Hong, World, Family Planning Association, millennials, Hong Kong Free Press, CNN Locations: Hong Kong, Wall, Silicon, Kennedy Town, Kowloon Bay, Kwun Tong, Hong Kong's, United Kingdom, People's Republic of China, British, Asia, Hong, millennials, India, Kowloon, Kai, China, Singapore, Sydney, South America, ymgerman, South Korea, Hong Kong . Hong Kong, University of Hong Kong, New Territories, Tai

Mortgage rates have been holding relatively steady, with 30-year mortgage rates hovering right around 7%. But we could still see some movement with mortgage rates depending on the commentary coming out of the meeting. Unless the Fed opts for a surprise hike, policy decisions made at this week's meeting shouldn't move mortgage rates. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates was 6.51% this week, according to Freddie Mac data.

Persons: Jerome Powell, Freddie Mac, it's Organizations: Federal, Zillow Locations: Chevron

☆ Inflation is expected to slow because of these trends
▼ + stars: | 2023-09-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —US inflation has slowed steadily from its four-decade peak last June, and it’s expected to cool further thanks to easing car prices and rents. Despite the expected inflation drop, she said investors anticipate the Fed will keep interest rates steady and not cut them anytime soon. “It may take a little bit longer than expected for inflation to come down to 2%, and inflation being in a 2-3% range next year is reasonable,” she said. Tuesday: Canada’s statistics agency releases August inflation data. The UK’s Office for National Statistics releases August inflation data.

Persons: we’re, ” José Torres, “, ”, Sarah House, Saira Malik, Michelle Toh, ” Read, General Mills, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Interactive Brokers, CNN, “, ”, United Auto Workers, CPI, San, San Francisco Fed, National Association of Home Builders, US Commerce Department, Japan’s Ministry of Finance, FedEx, General, National Statistics, Federal Reserve, Darden Restaurants, The Bank of England, US Labor Department, National Association of Realtors, The Bank of Japan, European Central Bank, Global Locations: Washington, Wells Fargo, San Francisco, China, Michelle Toh ., Japan’s

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024. Both benchmarks climbed to 10-month highs on Wednesday before data showed a surprise build in U.S. crude and fuel inventories that worried markets about demand. U.S. crude inventories rose by 4 million barrels last week, confounding analysts' expectations in a Reuters poll for a 1.9 million-barrel drop. Fuel inventories also rose more than expected as refiners stepped up activity. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand.

Persons: refiners, buoying, Arathy Somasekhar, Leslie Adler Organizations: Brent, U.S, West Texas, International Energy Agency, of, Petroleum, Reserve, Thomson Locations: Saudi Arabia, Houston

☆ Until 3183 A.D., This Public Sculpture Is a Work in Progress
▼ + stars: | 2023-09-14 | by ( Richard Fisher | ) www.nytimes.com time to read: +2 min

One of the biggest sticking points was the use of concrete, which some residents found ugly and drab, Barbara Laber said. He may have been seeking to make time itself more concrete, more tangible, Schlecht said. In the late 20th century, Laber was not the only German artist exploring time’s reach across generations. Since then, several other long-term art projects have begun across Europe and beyond. But Michael Münker, whose day job is running a medical device firm in the Netherlands, recently established a network called L.T.A.P.

Persons: Barbara Laber, “, Klaus Schlecht, Laber, Schlecht, Joseph Beuys, Bogomir Ecker, Michael Münker Organizations: Pyramid Foundation, Hamburger Kunsthalle Locations: Kassel, Germany, Hamburger, Hamburg, Europe, Halberstadt, Dutch, Oxfordshire, England, Texas, Netherlands

☆ Samoa name former Australia star Leali'ifano to start against Chile
▼ + stars: | 2023-09-14 | by ( Lawrence White | ) www.reuters.com time to read: +2 min

Summary Rules change means former Wallabies flyhalf eligibleSamoa target Chile clash as most winnable Pool D gameFormer All Blacks Luatua and Sopoaga also featureTOULOUSE, France, Sept 14 (Reuters) - Samoa have selected 35-year-old Christian Leali'ifano, who scored the most points for Australia at the 2019 World Cup, as flyhalf in their opening Pool D clash against Chile in Bordeaux on Saturday. Samoa are taking advantage of a relaxation in World Rugby's eligibility rules, which means players who stand down for three years from appearing for one country can then play for another for which they qualify. That means they can also field former All Blacks Steven Luatua, who starts at number eight, and the versatile Lima Sopoaga as a replacement back. Former Highlanders and Wasps player Sopoaga can play at flyhalf or fullback and, while New Zealand-born, qualifies for Samoa through his family background. Samoa will target Chile, the lowest ranked team at the tournament, as their most winnable game in a pool also containing England, Argentina and Japan as they look to progress from the pool stage for the first time since 1999.

Persons: Sopoaga, Leali'ifano, Blacks Steven Luatua, Theo McFarland, James Lay, Seilala Lam, Michael Alaalatoa, Chris Vui, Agaese Seu, Fritz Lee, Steven Luatua, Jonathan Taumateine, Nigel Ah, Danny Toala, Duncan Paia'aua, Jordan, Paul Alo, Emile, Sam Slade, Sa Jordan, Ed Fidow, Lawrence White, Ken Ferris Organizations: Wallabies, Blacks, Australia, Chile, Saturday, Samoa, Lima, Former Highlanders, Wasps, flyhalf, The Pacific Islanders, English, Saracens, Manu, Junior, Jordan Lay, Lima Sopoaga, Thomson Locations: Samoa, Chile, TOULOUSE, France, Bordeaux, New Zealand, England, Argentina, Japan, Fiji, Lima

Wholesale inflation surged 0.7% in August, largely due to a spike in energy costs, the Labor Department reported on Thursday. The producer price index, a measure of what businesses pay for their supplies, rose 1.6% for the year. The core PPI, excluding energy and food costs, rose 0.3% for the month and 3% for the year, above estimates for increases of 0.2% and 2.2%. The overall August increase is the largest since a 0.9% increase in June of 2022, when inflation began rising sharply, and was fueled heavily by a 10.5% increase in energy prices. On Wednesday, the government said the consumer price index rose 0.6% in August and 3.7% for the year.

Persons: “, ” Julia Pollak, ” Organizations: Labor Department, Analysts, PPI, Research, CPI, Federal

Mortgage rates have been a bit volatile from day to day, but fixed rates are relatively flat compared to a month ago. Average 30-year mortgage rates are just above 7% today; rates ticked up slightly following the release of the latest Consumer Price Index data on Wednesday. Most major forecasts expect mortgage rates will trend down toward the end of this year and throughout 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase a Bit (+0.20%)The current average 30-year fixed mortgage rate is 7.05%, up 20 basis points since this time last week.

Persons: you'll, It's, refinance Organizations: Bureau of Labor Statistics, CPI, Zillow, FHA Locations: Chevron

Some creative programming — including shows imported from other countries, competition series and the broadcast arrival of the Paramount Network hit “Yellowstone” — will round-out gaps in the TV schedule. The limited series also stars Mark Ruffalo and Hugh Laurie and debuts Nov. 2. “The Continental” debuts Sept. 22. SIGNS OF STRIKESThere are also programs coming to TV this fall that are obvious time-fillers to help round out primetime schedules. Fox has leaned in heavily to competition shows.

Persons: “ Abbott, ”, Janine, Gregory, Kim Raver's Dr, Teddy Altman, Zakiya Dalila Harris, Sinclair Daniel, Hazel, Ashleigh Murray, Jesse L, Martin, Dan Ariely’s, “, Jenna Coleman, Victoria, Oliver Jackson, Cohen, Liv, Will doesn't, wasn't, B.E, Jones, Ashley Benson, Eric Balfour, Brie Larson, Bonnie Garmus, Elizabeth, Calvin, Lewis Pullman, Anthony Doerr, Shawn Levy, Marie, Aria Mia Loberti, Werner, Louis Hoffman, Mark Ruffalo, Hugh Laurie, Danai Gurira, Steven Yeun, Lauren Cohan, Jon Bernthal, Norman Reedus, Reedus, Daryl Dixon, Daryl, John Wick, Keanu Reeves, John Wick ”, Mel Gibson, Colin Woodell, Ian McShane's, Kelsey Grammer, Frasier Crane, Frasier, “ Scott Pilgrim, Michael Cera, Mary Elizabeth Winstead, Kieran Culkin, Anna Kendrick, Kevin Costner's, Sydney ”, They've, Rose McIver, Singer ”, they've, David Spade, Lea Thompson’s “ Spencer, Chad Michael Murray, Scott Patterson —, Hilary Fox Organizations: “, Paramount Network, Hollywood, Hulu, NBC, Apple, Netflix, SPIN, AMC, Godolkin University School of Crimefighting, Paramount, CBS, Sydney, Fox, Forces, ABC, Disney Locations: France, Nazi, Boston, United States, States, Paradise

U.S. applications for jobless claims rose by 3,000 to 220,000 for the week ending Sept. 9, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though some measures of inflation have retreated significantly — from as much as 9% down closer to 3% — since the Fed starting raising interest rates, the job market has held up better than most expected. Theough the unemployment rate ticked up to 3.8%, it's still low by historical measures. Overall, 1.69 million people were collecting unemployment benefits the week that ended Sept. 2, about 4,000 more than the previous week.

Organizations: Labor Department, Federal Locations: U.S

☆ Microsoft's Employee Review System Is Still a Bit Like Stack Ranking, Sources Say
▼ + stars: | 2023-09-13 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Some have compared the adjustment process to the controversial practice of "stack ranking," in which managers ranked employees on a forced curve. Some employees feel that the essence of stack ranking has returned with the company's instructions to managers on how to handle this year's employee reviews. This year, Microsoft managers scored employees on a scale from 0 to 200, as they've done previously. The ratings are "Lower Impact Than Expected (LITE)," "Slightly Lower Impact Than Expected (SLITE)," "Successful Impact," and "Exceptional Impact." "If the employee delivered slightly lower impact than expected, their rewards will align below the middle of the opportunity range."

Persons: Steve Ballmer, Satya Nadella, Kathleen Hogan, Hogan Organizations: Microsoft, Insider

Mortgage rates are a little lower now compared to where they ended last week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.12%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.52% last week, a three-point drop compared to the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

Persons: you'll, Freddie Mac Organizations: Federal Reserve, Mortgage, Zillow Locations: Chevron

☆ As Covid-19 Cases Tick Higher, Conspiracy Theorists Stoke New Fears
▼ + stars: | 2023-09-11 | by ( Stuart A. Thompson | More About Stuart A. Thompson | ) www.nytimes.com time to read: +1 min

But to conspiracy theorists and right-wing influencers online, each uptick is an opportunity to sow fear and rile up their supporters, according to disinformation experts. “I would almost call it an obsession for the Covid denier, anti-vax community,” said Welton Chang, the co-founder and chief executive of Pyrra. “They just make mountains out of molehills for every little thing.”Misinformation about Covid-19 is as old as the virus itself. Much of it is about vaccines: One-third of Americans said they believed that the Covid-19 vaccines caused thousands of sudden deaths in otherwise healthy people, according to a survey published in August by the KFF, a nonprofit research group. While there is no link between Covid-19 vaccines and sudden deaths, conspiracy theorists have often circulated the idea as celebrities and athletes fall ill from unrelated causes.

Persons: ”, Welton Chang, “ Locations: Pyrra, Covid

REUTERS/Brendan McDermid Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Rising U.S. business bankruptcies may raise a red flag in what otherwise appears like an economy now impervious to rising interest rates. Commenting on the numbers, insolvency research organisation ABI blamed elevated interest rates, price inflation and a resumption of student loan payments as just some of the headwinds causing stress. That partly mirrors some of built-in household resilience to rising rates related to long-term fixed-rate borrowings and still-high cash savings that now earn significantly higher rates of interest now too. And that 10% - accounting for more than 60% of index market cap - had seen no rise in net interest payments so far in the Fed campaign. But creeping insolvencies among the smaller firms - many of whom have been dubbed 'zombies' for years due to their survival solely on low interest rates - may be a better reflection of what's starting to happen at the coalface of the economy.

Persons: Brendan McDermid, Albert Edwards, Edwards, Andrew Lapthorne, Russell, NFIB, Mike Dolan, Josie Kao Organizations: New York Stock Exchange, REUTERS, Yellow Corp, P Global Market Intelligence, Reuters, Societe Generale, Fed, National Federation of Independent Business, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, midyear

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