What we’re reading (7/23)
“Fed Decision, Big Tech Earnings Highlight The Busiest Week Of The Summer” (Yahoo! Finance). “More than 150 S&P 500 companies are set to report quarterly results in the week ahead, headlined by Microsoft (MSFT), Alphabet (GOOGL), and Meta (META). Amid this earnings rush, the Federal Reserve will announce its latest policy decision on Wednesday afternoon and is expected to announce another 0.25% increase in its benchmark interest rate.”
“The Crypto Craze Is Fading As Fans Embrace AI Mania Instead, 'Black Swan' Author Nassim Taleb Says” (Insider). “‘The crypto fad is starting to peter out as many of those fanciful young adults who like to play w/computers in their mothers' basements are now getting enamored with AI,’ the author of ‘The Black Swan’ tweeted on Friday.”
“A World Transformed By 5 Percentage Points” (Wall Street Journal). “Interest rates shape the world. The Federal Reserve is expected to raise them again this week, extending a campaign with globe-spanning consequences.”
“Liberal Suburbs Have Their Own Border Wall” (The Atlantic). “The New York City suburb of Scarsdale, located in Westchester County, New York, is one of the country’s wealthiest communities, and its residents are reliably liberal. In 2020, three-quarters of Scarsdale voters cast ballots for Joe Biden over Donald Trump. One can safely presume that few Scarsdale residents are ardent backers of Trump’s wall on the Mexican border. But many of them support a less visible kind of wall, erected by zoning regulations that ban multifamily housing and keep non-wealthy people, many of them people of color, out of their community.”
“Beijing Unrattled Despite Weak Q2” (ThinkChina). “While China's housing market and exports are down, its consumption figures look to be improving and there are bright spots in the renewable energy and semiconductor sectors, says China research analyst Chen Long. A huge stimulus is unlikely to be in the offing, as Beijing still seems convinced that a more organic rebound, while slow and gradual, is better than a quick, policy-driven one.”
