Wealth Management News & Insights
Inflation Tracker, 30 Years Since Food Ate Up This Much of Your Income, Caring for Loved Ones
Primary Sources
- Minutes of the Federal Open Market Committee: 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, January 30, 2024, at 10:00 a.m. and continued on Wednesday, January 31, 2024, at 9:00 a.m. [FRB]
Financial Markets
- Markets Start to Speculate If the Next Fed Move Is Up, Not Down: Interest-rate options reveal some small hedging of Fed hike. [Bloomberg]
- How China Miscalculated Its Way to a Baby Bust: A missile scientist used mathematical models to push the nation’s one-child policy. Its legacy is proving hard to shake. [WSJ]
- It’s Been 30 Years Since Food Ate Up This Much of Your Income: Ongoing high costs lead food manufacturers and restaurants to keep prices elevated. [WSJ]
- Musk’s SpaceX Forges Tighter Links With U.S. Spy and Military Agencies: Company has grown from a for-hire rocket launcher into a major national-security contractor. [WSJ]
The chart above illustrates the distribution of household net worth across different generations. Boomers and Traditionalists collectively account for two-thirds of the total net worth, followed by GenX and then Millennials.
Financial Planning
- Inflation Tracker: At 3.1%, See the Items Keeping Prices High: Inflation has cooled, but services and household items remain stubbornly expensive. [WSJ]
- Caring for Loved Ones? These Steps Could Ease Caregiver Shortage and Curb Costs: The U.S. is facing an “extreme workforce crisis” for paid caregivers, Ai-jen Poo, president and co-founder of the National Domestic Workers Alliance and executive director of Caring Across Generations, said on Tuesday. [Barron’s]
- These Teenagers Know More About Investing Than You Do: Custodial investment accounts for minors have surged in popularity. [WSJ]
Custodial accounts for minors 13-19 years old at Charles Schwab jumped to over 300,000 in 2023. This increase from 2022 to 2023 is in part due to Schwab’s integration of TD Ameritrade.
Business Strategy
- American Airlines is Raising Checked-Luggage Prices: Checking a bag on American Airlines will now cost you more than at every other major US airline. [CNN]
- Tory Burch Built a Blockbuster Business. Where Will She Take It Next: The sportswear titan talks about relinquishing the role of CEO, being deemed cool by fashion writers and avoiding negativity. [WSJ]
Since 2018, Amazon’s online grocery sales have surged, more than tripling in growth. Amazon launched its first online grocery storefront in 2006, and acquired Whole Foods Market for $13.1 billion in 2017.
Life & Work
- How to Plan a Friend Trip (and Keep Your Friends): Can a friendship survive the stresses of a friend trip? Seasoned experts offer their advice on minimizing tension and maximizing good times. [WSJ]
- The New Power Watch Is About You, Not About Showing Off: The right timepiece can get you ahead. The wrong one gets you labeled pretentious. [WSJ]
- The Restorative Power of Small Habits: The authors identify five key energy batteries: physical, mental, emotional, spiritual, and social. Once you identify which batteries are depleting and why, you can implement mini-habits to help you recharge. [HBR]
- Half of College Grads Are Working Jobs That Don’t Use Their Degrees: Roughly half of college graduates end up in jobs where their degrees aren’t needed, and that underemployment has lasting implications for workers’ earnings and career paths. [WSJ]
- Yale to Require Standardized Test Scores for Admissions: Officials said test-optional policies might have harmed students from lower-income families. [NYT]
The chart above illustrates the minute-by-minute online activity across various platforms. Over the past five years alone, there has been an increase of 2,000,000 Google searches per minute.