- Minutes Of The Federal Open Market Committee July 25–26, 2023: A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday, July 25, 2023, at 10:00 a.m. and continued on Wednesday, July 26, 2023, at 9:00 a.m. [FRB]
- The Fed’s Interest-Rate Debate Is Shifting: As Federal Reserve officials close in on the end of their tightening campaign, the debate is shifting from how high interest rates need to go to how long they should stay elevated. [Bloomberg]
- Hollywood Calls Time On Golden Era Of Cheap Streaming: Top studios turn screws on customers with price rises that rival expensive cable TV bundles. [Financial Times]
BofA Global Research highlights the change in global search engine market share from July ‘22 to July ‘23. Over the past year, Google’s overall search market share increased 61bps y/y to 92.1%.
- The Higher Your Tax Bracket, The More Attractive Municipal Bonds May Look: US investors looking to match the long-term returns provided by equities need look no further than the seemingly modest municipal bond market. [Bloomberg]
- Biden’s New Student Loan Repayment Plan Is Open. Here’s How to Enroll: The income-driven plan, SAVE, will reduce payments for millions of borrowers, and more will qualify for $0 payments. [NYT]
- One Thing Parents Won’t Cut From Budgets Is Extracurricular Activities: Nonacademic credentials are becoming more important in college admissions. [WSJ]
The Manheim Used Vehicle Value Index is a measurement of used vehicle prices. After a rapid rise post COVID, the mid-month index declined 7.8% y/y from the full month of August 2022.
- Three Reasons To Claim Social Security As Soon As You Retire: Let’s consider a couple of scenarios where it might make more sense to opt into your Social Security benefits sooner rather than later. [Kiplinger]
- As Social Security Marks A Milestone, Here Are 3 Things To Know About Your Retirement Benefits: On Aug. 14, 1935, President Franklin D. Roosevelt signed the Social Security Act into law. [CNBC]
- Pay for New Hires Is Shriveling: After years of salary increases, businesses across the economy say they’re reducing starting salaries for recruits. [WSJ]
- This Tomato Sauce Is Delicious. It’s Also Worth Billions of Dollars: Campbell Soup is splurging for the company behind Rao’s. What is the brand’s secret sauce? [WSJ]
- Your Old School Starter Jacket Is Making A Comeback: Starter, the sports-apparel brand that was popular in the 1990s, is plotting a comeback for its old-school styles and is in talks for new deals and endorsements. [Bloomberg]
- AI Is Setting Off A Great Scramble For Data: Feeding ever-larger models is requiring makers to get creative. [Economist]
This chart shows the immense growth of AI discussion and related terms in US earnings transcripts from 2018 to current. The mentions of AI and related terms is roughly 4x since 2018.
Life & Work
- America’s Fight Over Tipping At Restaurants Comes to Its Biggest Battleground Yet: Chicago restaurants say they will have to boost prices, cut staff if ‘sub-minimum wage’ proposal becomes law. [WSJ]
- Pickleball Went Pro. Can It Profit?: Investors are pouring money into the less exclusive cousin of tennis. [NYT]
- Goodbye Bathtub And Living Room. America’s Homes Are Shrinking: Faced with high mortgage rates, cost-constrained Americans are embracing smaller homes. [WSJ]
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