What we’re reading (8/15)
“Party Like It’s 1999—Investors Send These Stocks Into Record Territory” (Fortune). “There's nothing scary about these markets. U.S. futures are off their lows, trading higher. Europe is doing a bit better. The only drama I can see: can the benchmark indexes grind out yet another all-time high? Looks that way.”
“Used Car Price Hikes May Soon Be Over” (CNN Business). “Used car prices may finally be peaking. Prices shot up like a rocket earlier this year, soaring 30% between March and June according to the consumer price index, the federal government's main inflation barometer. That was by far the steepest three-month increase in those prices, according to government data that goes back nearly 70 years. Before the recent run-up in used car prices, which started last fall, the biggest 3-month rise in prices was only a 12% jump in 1974. But prices edged up only 0.2% in July, and gauges from the industry have raised hopes that the prices are at least leveling off if not about to start a modest decline.”
“The New Inflation: Don't Expect Food Or Gas Prices To Fall Any Time Soon” (The Hill). “The outlook for inflation has deteriorated sharply since the pandemic began and the Fed took inflationary monetary policy actions. Because of the lagged effects of monetary growth on inflation, it is likely that this new episode of inflation will continue for quite some time — even with a speedy response by the Fed, which grows more likely by the day. The Biden administration’s policies will worsen the outlook for inflation. Increased regulations have created an energy price shock, and introduced other supply shocks that will slow productivity and output growth and boost inflation.”
“These People Who Work From Home Have A Secret: They Have Two Jobs” (Wall Street Journal). “They were bored. Or worried about layoffs. Or tired of working hard for a meager raise every year. They got another job offer. Now they have a secret. A small, dedicated group of white-collar workers, in industries from tech to banking to insurance, say they have found a way to double their pay: Work two full-time remote jobs, don’t tell anyone and, for the most part, don’t do too much work, either.”
“The Limits Of Vacation” (DealBook). “Leaders’ first priority should be to stop glorifying exhaustion, said Dr. Maslach of Berkeley. After that, she suggests that managers ask employees what they need, rather than assume that they know, since there is no one answer. For example, companies have sought to improve morale by installing a volleyball court on the rooftop of an office or by providing free food during the day. What may have made more of a difference to employees was receiving fewer emails from bosses during evenings and weekends.”
