Consumers remain confident prices won't accelerate in the years to come. Still, Americans do expect inflation to remain high across various time horizons — something the Federal Reserve doesn't like.
What's new: That story remained intact in the latest Survey of Consumer Expectations, released this morning by the New York Fed, with signs consumers anticipate more subdued spending levels and slowing income growth.
To regulate pirates, cut off access to their ports and see how long they last at sea. That's the playbook being used in the U.S. to rid the scourge that is crypto too, or so it would seem.
Why it matters: For crypto, banks are its ports — vital on- and -off ramps for dollars to move on-chain. But banks cannot hold crypto as principal, the Fed's Board of Governors said in a bulletin made effective last week.
Pretty much all the important data has been pointing to inflation receding through the final months of 2022.
Yet as we await 2023's first major reading on prices, there are some warning signs the pathway toward low inflation may be bumpier than advertised so far.
Longtime Meta executive Marne Levine will exit the company later this year, she told Axios, ending her 13-year tenure with the company.
Why it matters: Levine currently oversees all advertising and business partnerships for Meta. Two longtime Meta executives, Nicola Mendelsohn and Justin Osofsky, will take over her responsibilities.
Here's the bottom line on underwear tariffs — they're sexist.
State of play: The average U.S. tariff rate on women's underwear is 15%, compared to 11.5% for men's underwear, per an analysis last week from a former U.S. trade official,highlighted by Catherine Rampell in the Washington Post.
The January jobs surprise is still rippling through the market.
Why it matters: Investors are reassessing their views on how quickly the Fed will continue hiking interest rates — and that was a drag on stocks last week.
Markets mostly shrugged off Russia's threat to curb crude production in response to Western sanctions.
Why it matters: It shows that Putin's decision to invade Ukraine has left Russia with less leverage against the West than he mayhave once believed it had.
Companies large and small are on alert for a record wave of attacks this year from activist investors.
By the numbers: 2022 saw a record number of new activist investors, and a record share of activists' activity targeted large companies — including Alphabet, Meta and Salesforce.
Housing prices are finally beginning to fall— but that's not necessarily translating into much of a break for renters, at least in some parts of the country.
Why it matters: The pandemic era has been defined by soaring prices to rent and own, contributing to historic inflation. With overall price pressures showing signs of peaking, shelter costs should soon follow suit.
