What we’re reading (7/11)
“Why The Fed Wants A Good Inflation Report — But Not A Good Jobs Report” (CNN Business). “‘Any news that inflation continues above that target rate or if the pace at which the rate of inflation is coming down is slowing is bad news for the Fed,’ said Sean Snaith, director of the Institute for Economic Forecasting at the University of Central Florida.”
“Historic Rate Increases Leave Some On Wall Street Wanting More” (Wall Street Journal). “One popular Wall Street gauge, published by Goldman Sachs, suggests that financial conditions are doing less to cool the economy than they were earlier this year. Goldman economists argue that an economic index newly published by the Fed overestimates how much previous rate increases will start to pull down growth in the months ahead.”
“Worker Strikes Grip Los Angeles As Nation Faces ‘Hot Labor Summer’” (Washington Post). “Workers in Los Angeles are feeling emboldened as they eye post-pandemic corporate profits and sky-high housing costs, and after a cascade of successful walkouts in Southern California and beyond. They are striking for higher pay and better working conditions, even if it means taking a financial risk and hampering life in the nation’s second most populous city. Just Monday, several thousand workers from hotels near the Los Angeles International Airport walked off the job, disrupting travelers.”
“Threads Is Not An Automatic Win For Meta” (Slate). “With a fast-expanding user base and support from its parent company, Threads appears destined to stick around for a bit. And while there’s opportunity for Meta, its new social network is not without risk. In its pursuit of cultural relevance and added revenue, Meta has opened itself to distraction in its fight against TikTok. Threads may also dilute its core apps, weakening their network effects. Here are four opportunities, and two big risks, to consider.”
“Mark Zuckerberg’s Threads Poses A Conundrum For Regulators” (DealBook). “In an era of tighter antitrust scrutiny of Big Tech in the United States, in Europe and elsewhere, what questions does Meta’s effort to extend its social media reach raise about the industry’s ability to expand into new areas — even when players build new services themselves, rather than buy a smaller foe?”
