What we’re reading (4/19)
“After Getting Inflation So Wrong, Can The Fed Now Get It Right?” (The Economist). “Many factors explain the latest burst in inflation, with snarled supply chains, tight job markets, generous fiscal policy, loose monetary policy and, more recently, the war in Ukraine all part of the fabric. But one thread runs through them all. Investors, analysts and, crucially, central bankers believed that high inflation in America had been consigned to history, a problem more for academic studies than for current policy.”
“What If The Future Of Work Is Exactly The Same?” (Vox). “But what does the future of work actually look like for the majority of Americans whose jobs require them to show up in person? Despite all the buzz about high-profile union efforts last year, union membership actually fell in 2021. Wages aren’t going up as fast as they were, and any hope for an increase in the federal minimum wage is, at least for now, dead. Many of the circumstances that have made the current moment possible, including unprecedented support from the federal government, are fading or already have expired in the super-speed recovery.”
“Twitter Stock Swings Sharply As Individual Investors Pile In” (Wall Street Journal). “The social-media company’s stock has been on a head-spinning ride since the Tesla Inc. chief executive took a stake in the company and said he was angling to take it private in a $43 billion deal. The shares, which were trading below $40 before he disclosed his position, jumped 27% in a single session on the news.”
“The World May Dodge Another Recession. But Risks Are Growing” (CNN Business). “As the World Bank and the International Monetary Fund kick off their spring meetings this week, both are sounding a warning: The global economy, they say, is quickly losing steam. What's happening: The World Bank has slashed its forecast for global growth in 2022 to 3.2% from 4.1%, anticipating a sharp deceleration from estimated growth of 5.5% in 2021. The IMF's latest outlook arrives later Tuesday.”
“Netflix Is Bleeding Subscribers For The First Time In Over A Decade — And It's Expecting To Lose Another 2 Million Subscribers In Coming Months” (Insider). “Netflix's earnings report revealed subscriber losses for the first time in over a decade. The earnings miss sent the stock plummeting 21% in after-hours trading as Wall Street reacted to Netflix losing 200,000 subscribers in the first quarter and predicting further losses in the second quarter.”
