What we’re reading (6/6)
“Why Peak Inflation Is Near, According To Experts Who Bet On Short-Lived Price Rises” (Bloomberg). “[T]here remain plenty of economists who argue that the shock will soon fade, as supply blockages ease and energy costs stabilize. Some warn that central banks are in danger of making a big mistake by raising interest rates too aggressively even as price pressures show signs of peaking.”
“Why Adjustable-Rate Mortgages Are Still Risky” (New York Times). “‘There’s not much room to go down, and there’s a lot of room to go up,’ said Martin Seay, associate professor of personal financial planning at Kansas State University.”
“SEC Closes In On Rules That Could Reshape How Stock Market Operates” (Wall Street Journal). “Chairman Gary Gensler directed SEC staff last year to explore ways to make the stock market more efficient for small investors and public companies. While aspects of the effort are in varying stages of development, one idea that has gained traction is to require brokerages to send most individual investors’ orders to be routed into auctions where trading firms compete to execute them, people familiar with the matter said.”
“How Texas Monthly Chronicled The Eighties Oil Bust Via A Beloved Houston Clothier” (Houston Chronicle). “For Texans who were born in the last 30 years, or who moved to Texas since 1990, Sakowitz might be an unfamiliar name. But in its day, it was the department store where Texans bought clothes that expressed their desire to be recognized for their growing wealth and worldliness (along with its Dallas-based rival Neiman Marcus). Bobby Sakowitz was the embodiment of this desire. When, in 1969, he married a New York City ‘it’ girl, the New York Times wrote up his wedding. But the paper could not resist taking a dig at his provincialism in its headline: ‘Pam Zauderer Wed to Robert T. Sakowitz, Houston Merchant.’”
“One Good Thing: 107 Minutes Of Wall Street Traders Behaving Badly” (Vox). “The choice that CEO John Tuld ([Jeremy] Irons) makes in the middle of Margin Call, by contrast, is not a crime. When someone raises the prospects of ‘the feds’ stopping the move, executive Ramesh Shah (Aasif Mandvi), implied to be a lawyer, pushes back: ‘They can slow you down. They can’t stop you.’ This is a choice they can make in the course of doing business. It’s just part of being a banker. And it will hurt many, many people.”
