Costco on inflation keeps us from overreacting to higher producer prices

Wholesale rates in November may be slightly higher than expected, but it is next week’s outlook on consumer prices that may underpin the Fed’s next rate decision. Ultimately, we believe that the November Consumer Price Index (CPI) carries more weight with the market and the Fed than Friday’s wholesale numbers, formally known as the Producer … Read more

How ChatGPT can disrupt the search business

Illustration: Sarah Grillo / Axios Something called a new artificial intelligence chat The internet made a fuss this week. why does it matter: Essentially an artificial intelligence (AI) interface that texts you likes to a know-it-all, ChatGPT could spell major disruptions in the future for Big Tech — especially in the search arena. How it … Read more

When will waves of layoffs relax this crazy job market?

It’s starting now (but a little bit). by Wolf Richter for Wolf Street. There have been countless layoff announcements, some by big tech and social media companies, others from perpetually money-losing companies that suddenly have to conserve cash — like a company BuzzFeed earlier this week to lay off 12% of its employees, or today … Read more

How millions of missing workers live without work

Recession fears have mounted in recent weeks, such as inflation It continues to strain household budgets and the Federal Reserve appears intent on raising interest rates and further slowing the economy. As if blissfully unaware, the job market I have blossomed. Employment last month exceeded expectations and defied warnings of a contraction. But good jobs … Read more

The Chinese Wealthy Keep Spending While Others Cut: The McKinsey Study

Pictured here is a science fiction-themed installation at Maison Hermes in Shanghai, China, on November 28, 2022. Publishing in the future | Publishing in the future | Getty Images BEIJING — Richer Chinese people were more likely to spend this year, McKinsey and Company found in a survey published Thursday, while poorer people cut their … Read more

FirstFT: Double whammy for Trump

good morning. This article is an in situ version of our website FirstFT the news. Subscribe to our site AsiaAnd the Europe/Africa or The Americas A release to send straight to your inbox every weekday morning Raphael Warnock won a runoff for the Georgia Senate seat, in a second blow to former President Donald Trump … Read more

White-collar layoffs are rising at brand-name companies amid the economic slowdown

At the beginning of the pandemic, waves of layoffs hit retail, leisure and hospitality workers — anyone whose job relied on personal interactions. But now that the pandemic has waned, it’s those workers who are in short supply, and it’s the higher-paid employees who find themselves on the receiving end of layoff announcements. Among the … Read more

A US debt explosion funded by Americans, not foreign countries, poses risks to economic growth

Fox News contributor and King’s College economics professor Brian Berenberg reacts to ADP’s November report. The An explosion in US government borrowing For the past 15 years, it has been supported not by lending from China and Japan but by purchases of Treasury notes by US financial institutions, state governments, and other local entities. Experts … Read more

Goldman Sachs warns that the US could see a conflict over the debt ceiling shake the markets

New York CNN Business – Republicans and Democrats are likely to clash next year over the debt ceiling, a battle that could roil financial markets, roil consumers and threaten the economy with the specter of default. The looming debt-reduction battle in Washington may create the most uncertainty Since the 2011 brinkmanship that cost America its … Read more

Oil prices rise with the start of Russian sanctions

Crude oil rose on Monday ahead of sweeping Western sanctions on Russian oil, and as investors increased their bets on China reopening to the world early next year after Beijing eased its growth-suppressing policies. Brent crude, the international benchmark, rose 2.4 percent to $87.69 a barrel, though prices have fallen about 30 percent from around … Read more