What we’re reading (11/14)
“Wall St Indexes End Lower After Powell Erodes Hopes For December Rate Cut” (Reuters). “Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy. Powell said at a Dallas Fed event that with the economy still growing, the job market solid and inflation still above the 2% target, the Fed can deliberate carefully on rate cuts.”
“No One Can Find Safe-Deposit Boxes Anymore” (Wall Street Journal). “Longtime deposit-box renters are getting kicked out of their boxes by banks that are shutting down or scaling back the service. Customers say they have been struggling to find the small boxes traditionally kept inside vaults to store family heirlooms and other valuables.”
“Asteroid Mining: Science Fiction Or Future Source Of Raw Materials?” (RealClear Markets). “Asteroids not only represent a potential threat to humanity, they also offer great opportunities, especially for the future. Current estimates suggest that there are between 700,000 and 1,700,000 asteroids with a diameter of at least 1 kilometer. The majority of these asteroids are located within the asteroid belt between Mars and Jupiter. However, there are also approximately 34,000 known near-Earth asteroids (NEAs) – and around 2,000 to 3,000 more are discovered every year. Some of these can be a threat, others present valuable opportunities.”
“Why The Dollar Keeps Getting Stronger” (New York Times). “The recent rise may seem curious, because Mr. Trump has often said that, for the sake of U.S. exports, he would prefer to see the dollar weaken. But his plans to impose tariffs on imports and cut taxes, among other actions, are expected by most economists to do the opposite. Traders appear to agree: The broad-based dollar index is up about 3 percent since Election Day, a big move for that market over such a short period. Almost every major currency has lost value against the dollar this year, with pronounced declines in recent weeks. The Japanese yen is down about 9 percent and the Mexican peso more than 17 percent against the dollar since the start of the year.”
“Not Satire: The Onion Acquires Infowars” (Status). “The Onion has successfully acquired Infowars. The satirical news outlet purchased Alex Jones' right-wing conspiracy empire at a court-ordered auction, the families of the victims of the Sandy Hook Elementary School shooting announced Thursday. ‘The dissolution of Alex Jones’ assets and the death of Infowars is the justice we have long awaited and fought for,’ said Robbie Parker, whose daughter was killed in the 2012 school shooting.”
