A Stock Market Malaise With the Shadow of ’70s-Style Stagflation
The New York Times
After coasting higher over the summer, markets are jittery over rising prices, growth snarls and a number of other threats.
Vaccine mandates seem to be working, younger children may be approved for shots by Halloween, and the coronavirus appears to be in retreat. But those hopeful signs herald a messy new phase for the country’s economic recovery — and that’s putting Wall Street more on edge than it’s been in months.
The Federal Reserve has signaled it will begin dialing back programs that have helped prop up the markets for the past 18 months, while the breakneck pace of economic growth seems to be slowing, a fact underscored by last week’s disappointing jobs report.
And price increases that grew out of pandemic-related shutdowns and supply chain disruptions have been stubbornly persistent. A key measure of inflation released Wednesday, the Consumer Price Index, climbed 5.4 percent in September when compared with the prior year — more than expected in a Bloomberg survey of economists and faster than its 5.3 percent increase through August.
Critics of using public money to build sports facilities dismissed the bond sale, but some of the team’s devoted followers eagerly paid in.
Since the election, Mr. Musk has used his social media company to talk up how bright the future will be under the president-elect.
Here’s what the president-elect has said he might do with your taxes, student loans, Social Security and more.
Donald J. Trump has embraced tabloids, reality TV, Twitter and cable news. This year, he moved on to podcasts and online streamers.
Donald J. Trump spent his first presidency on a collision course with America’s central bank. Will it intensify?
A little-known investment banker, a former hedge fund star and an acolyte of George Soros have the president-elect’s ear.
The U.S. presidential election result has ensured a sharp turn in economic policy expected to upend global commerce and diverge from decades of American norms.
Angel Sivado tries to move people from the streets to permanent housing. A new law makes helping her clients more of a challenge.
About 33,000 workers at the aerospace manufacturer had been on strike for nearly two months, having rejected two earlier contract offers.
Right-wing groups, which use Telegram to organize real-world actions, are urging followers to watch the polls and stand up for their rights, in a harbinger of potential chaos.
The billionaire has effectively become the star of his social media platform, transforming X into a reflection of his personal views before the election.