What a weekend! Dan DeFrancesco in NYC.
What do you think we've got for stories today? It's all about Silicon Valley Bank going down and the knock-on effects.
Phew. Hey there. Senior reporter Phil Rosen here. Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest.
Gooood morning readers! I'm Phil Rosen. On tap today we've got a great interview with a top real estate economist and this week's best markets stories, including updates on the Silicon Valley Bank meltdown.
Before we get to that — who do you think I should speak to next?
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.