High-profile economists were engaged in a nerdy yet hugely consequential debate last summer: Might inflation come down without a massive spike in joblessness — perhaps simply through employers cutting back on job openings?
Why it matters: The U.S. labor market is rebalancing from pandemic-era extremes with minimal pain for workers, while inflation edges closer to the Fed's 2% target.
FazeWorld, a production studio that's created viral TikTok shows, has raised a $750,000 seed round at a $7.5 million valuation from a slew of big names in media, studio chief Adam Faze exclusively tells Axios.
Why it matters: The round underscores the interest in short-form video content, especially from younger audiences.
Uber is rolling out robots dressed as reindeer and a "festive fleet" of karaoke charter buses decked out with lights.
Driving the news: The San Francisco-based company announced a bundle of holiday products Tuesday, including a new store pickup program launching in more than 1,700 cities and towns across the country.
Why it matters: American production is part of the reason that recent efforts by OPEC — and its strategic ally, Russia — haven't been able to end the slide in global oil prices.
The gender disparity in pursuing STEM careers persists among young people ranging from tweens to recent grads, new data shows.
Why it matters: Like their older counterparts, girls aren't warming to STEM, as diversity in the field is critical for representative and responsible advancements — and despite efforts designed to boost their participation.
Researchers are flagging a suspicious surge in the short-selling of Israeli stocks days before the Hamas attacks of Oct. 7.
Why it matters: A new draft paper published today posits that a trader — or traders — were informed of Hamas' plans to attack ahead of time, and potentially made millions on it.
Why it matters: The original cryptocurrency has now recovered to its trading level from before the terra usd stablecoin meltdown in May 2022, the first major shock to the sector since a gradual downturn began six months prior.
The war on inflation is mostly won. The job market is finally slowing down. And earlier Fed hikes are still rippling through the economy and set to do unnecessary economic damage if not reversed soon.
Why it matters: That, in three sentences, makes the case for a Fed policy pivot, which may lead to rate cuts in the early months of 2024.
Notably, it is not the stated view of chair Jerome Powell and other top leaders of the central bank. Just Friday, Powell poured cold water on the idea.
Shopping malls across the country are adding lifestyle experiences and off-kilter attractions to draw in consumers in the age of e-commerce.
Why it matters: Extravagant entertainment options have long been a feature of America's largest malls. Now smaller ones are catching up as they attempt to stave off decay.
