The Federal Reserve raised its benchmark rate by a quarter point in a unanimous decision to combat stubborn inflation, signaling more increases are likely this year. The central bank's own projections now show it doesn't expect to hit its 2% target for another five years.
The tape Bloomberg Surveillance · Sep 16
“Well, one of the interesting things is they say that this move will result in a timelier move to the 2% target, and yet they push the 2% target out another two years, as they almost always do with these summaries of economic projections, to 2029.”
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BiggerPockets Money Podcast · Aswath Damodaran: Why AI Needs $10 Trillion in Revenue to WorkSep 15
Professor Aswath Damodaran calls the AI boom the "largest leap into the unknown" in history, warning that the massive $2 trillion investment in infrastructure will be a write-off unless revenues scale to once-unthinkable levels. Meanwhile, tech giants are issuing record debt to fund the race.
The Indicator from Planet Money · Strait talk: Why the oil crisis is getting worseSep 17
Iran-allied Houthi rebels have captured Bahrain Island in the Bab el-Mandeb Strait, a vital waterway for 15% of global seaborne trade. The move threatens to halt traffic altogether, endangering oil, gas, and container shipments.