Fed Saw Smaller Hikes Ahead to Assess Prior Moves, Minutes Show

“While the FOMC minutes continue to emphasize the need to contain inflation, there is also an emerging concern that the Fed could tighten more than necessary,” said Christopher Low, chief economist at FHN Financial. “There is an inkling of improvement on the supply side of the economy, there is a bit of hope in some … Read more

US Retail Sales Little Changed Last Month as Fuel, Autos Drop

Grocery store sales were up 0.2%, likely reflecting rising food prices rather than a significant uptick in purchasing activity. Data out last week showed the cost of groceries has surged 13.1% in the last year, the most since 1979. Sales at restaurants and bars, the only services’ component in the report, climbed 0.1%, the weakest … Read more

China Stock Investors Fixated on Covid Curbs Shrug Off Stimulus

“The biggest near-term risk to Chinese growth is its dynamic Covid-zero policy, which is offsetting the positive effects of Beijing’s cautious policy easing,” said Jessica Tea, senior investment specialist for Greater China equities at BNP Paribas Asset Management. “China would need to see further fiscal stimulus in order to help stabilize its GDP growth, and … Read more

Amazon Accuses FTC of Harassing Bezos in ‘Burdensome’ Probe

In a filing made public on Monday, Amazon claimed that FTC staff have made “unduly burdensome” demands as the agency investigates whether the company’s subscription services, including Amazon Prime, violate consumer protection laws. The online retailer is seeking to quash or limit the FTC’s most recent civil investigative demands, which are similar to subpoenas.

More Than 75% of US Businesses Prefer to Hire Freelancers in Uncertain Economy

About 78% of business leaders said they are more likely to hire freelancers rather than full-time employees while economic conditions remain uncertain, according to a survey by freelance marketplace Fiverr International Ltd. With economic uncertainty growing, 85% of US companies plan to implement a hiring freeze during the current downturn, and 78% plan to lay … Read more

Tesla Whipsaws After Stock Rallies 50% From Its May Bottom

While Tesla investors have been through a tumultuous 2022, with the company tackling several challenges, the shares have been recovering at a torrid pace. They posted a 32% gain in July for Tesla’s best month since October, as resilient second-quarter results, a climate change bill from the Biden administration and an overall cautiously optimistic mood … Read more

Eight Crises That Provided Key Lessons for the Fed

“The central dilemma the Fed had was that it had two incompatible goals, an exchange-rate goal and a domestic financial stability goal, and they never understood that these were in terrible conflict,” says Liaquat Ahamed, the author of , a history of the period. Today, Ahamed says, the Fed’s dilemma is between the rates needed … Read more