The end (of the week) is here! Dan DeFrancesco in NYC, and I wish I had more to say, but I am just ready for the weekend.
Fun fact Friday: Musician Johnny Cash was the first American to learn of Joseph Stalin's death.
"Be BORING!" "Get an ice cream cone. Just don't use Twitter." That's what billionaire Tesla investor Ron Baron emailed Elon Musk. At the time of the email, Musk was battling a cave rescue diver who was suing him for defamation.
Good morning readers. Phil Rosen here. It's jobs day today.
If the reading comes in too hot, the Fed's going to have even more ammunition to push interest rates higher in the coming months — and every move higher tightens the screws on the economy even more, ramping up risk of a recession.
Beware of Bevi machines, buds. I'm Diamond Naga Siu, and I'm an avid water drinker. But I don't like bubbly drinks (they hurt my mouth) or flavored water (just drink juice).
Good morning. I'm Phil Rosen, writing to you just blocks away from the Federal Reserve building in Manhattan.
Yesterday on Capitol Hill, Jerome Powell reiterated his warning that the Fed's more than ready to keep jacking up rates if necessary.
Inflation hasn't gone away as easily as policymakers want, and Powell thinks that may just warrant a steeper policy path.
He did make clear, however, that nothing yet is set in stone (traders have doubled the expected odds of a half-point hike at this month's meeting).
Stuck in the middle with you! Dan DeFrancesco in NYC, and I'm fascinated by Insider's Yeji Jesse Lee's step-by-step look at how MDMA affects the body and brain.
Hello, readers. I'm senior reporter Phil Rosen, writer of Insider's markets newsletter 10 Things Before the Opening Bell.
If you missed Jerome Powell's remarks from his first day on Capitol Hill yesterday, the TLDR is that more rate hikes are coming because the economy's still running hot.
Here's how Powell put it:
Hello there! Dan DeFrancesco in NYC, but I can't stop watching this video of a car ramming into a booth where two podcasters were recording (no one got seriously hurt). Check it out here.
Hey there readers. Phil Rosen here — writing to you from behind a cup of coffee that definitely feels more expensive than it was a year ago.
You don't need me to tell you inflation has stayed stubbornly high for a while now, despite the Federal Reserve's aggressive bid to cool it down.
In June, inflation reached a four-decade high, and while it's eased somewhat since then, everyday Americans are still feeling the heat.