Reading List for April 7-9
Happy Financial Literacy Month! And its tax month, too! We cover the headlines from the economics and banking world, add in a few on taxes and a few extra articles of interest for your reading pleasure this holiday weekend.
- This month’s highly anticipated jobs reports showed the lowest number of gains since March of 2020, at 236,000, about what was expected. Is the economy slowing down? Is the labor market cooling off? Forbes recaps other recent weak data reports. And here is today’s BLS report.
- February job openings came in under 10 million for the first time since May 2021. (CNBC)
- Beware when your employer tells everyone they can work from home for a few days. At McDonalds, it meant people were about to be laid off. This seems to be a new was to do layoffs—no more marching out with your box of stuff in front of coworkers. (Yahoo)
- In a surprise to the world, the Reserve Bank of New Zealand raised interest rates by 50 basis points and is now higher than US target rates.(Reuters)
- Nick Timiraos describes the last minute movements around the interest rate decision the weekend before the last FOMC as uncertainty continued about the banking situation in the US and abroad. (WSJ-subscription may be required) This is a slightly longer read but well worth it, as it gives great insight into how the FOMC comes together.
- Reuters had two good articles on shareholder response from the Credit Suisse/UBS deal. (Reuters1/Reuters2)
- Bitcoin has had a good month as banking issues claim headlines. (Forbes)
- Money is moving at high rates from banks to money market accounts. The Finance Buff suggests there is no need to worry about the lack of FDIC Insurance on those brokerage (money market) accounts.
- Vox reports that 60 million people in the US have such simple tax filings that the IRS could automate them.
- Taxes/Career—the IRS is hiring 30,000 over the next two years. (Reuters)
- Taxes/Debt--A Center for American Progress (non-partisan group) breaks down key drivers of the current US debt situation, primarily blaming tax cuts. But the Great Recession and Covid-19 rescue packages comprise a large component too.
- This is an interesting article from BBC.com about how cellphones have changed our brains.
- And this may give you pause next time you reach for a chocolate bar. Plans to pay farmers fair wages in Africa aren’t working out well for the farmers. (Reuters)
- If you own a Tesla, your privacy may be in jeopardy. (Reuters)