What we’re reading (7/13)
“Everything’s Coming Up Soft Landing” (New York Times). “Why have things gone so well? Part of the answer is probably that until recently, disruptions related to the pandemic were still driving some inflation but those disruptions have been fading away. Part of the answer may also be that when the economy is running hot, policies that cool it down — such as the Fed’s recent rate hikes — may reduce inflation without much adverse effect on employment.”
“As Inflation Goes Down, Soft Landing Odds Improve” (Wall Street Journal). “More encouraging is that underlying inflation has edged lower in recent months, even though the labor market has yet to weaken significantly. This suggests the odds of a soft landing, in which inflation returns close to the Fed’s 2% target without a recession, are improving.”
“‘Nobody Was There’: What’s Behind The Summer Slump At Disney World And Universal Orlando” (CNN Business). “Wait times for rides and attractions at both resorts have shortened, according to analysts who track theme park attendance. Videos on social media also show park attendees remarking on thinner crowds. The reasons behind the slowdown are hard to pin down, but travel experts point to extreme weather and heat in Florida, a waning post-pandemic travel boom and a tense political climate in Florida that has prompted travel warnings from some groups.”
“Fed’s Bullard, Influential Voice On Rates, To Leave for Academia” (Bloomberg). “Federal Reserve Bank of St. Louis President James Bullard, an influential voice who called for aggressive interest-rate hikes to fight the recent inflation surge, resigned after 15 years in the position to become dean of a university business school [Purdue].”
“Actors Union Will Join Writers On Strike, Shutting Down Hollywood” (CNBC). “Hollywood actors are officially headed to the picket line. Unable to reach a deal with producers, members of The Screen Actors Guild - American Federation of Television and Radio Artists will join up with more than 11,000 already striking film and television writers starting at midnight.”
