Reading List for Memorial Day 2023
This week's list is full of economics articles about approaching the debt ceiling as well as lots of news on economic conditions. But there are lots of graphs to go along with them! For good measure there is a smattering of interesting articles on a variety of topics, including mental health. Enjoy your weekend!
Economics—The Debt Ceiling
- How do you prepare (personally) for a potential default? WAPO’s Michelle Singletary has some suggestions.
- Will US debt be downgraded? (CNN)
- There was a big data release today, including the Fed favorite—the PCE index. Consumer spending was up in April, as were durable goods, and PCE came in hotter than expected. (CNBC) (Seeking Alpha) This is good news for those concerned about GDP faltering, but Fed watchers are pondering whether the inflation news will trigger another rate hike.
- Here is Paul Krugman’s view of a soft landing, with pictures. (NYT)
- Is the US headed for a recession? Below find more graphs suggesting a soft landing too. (Ritholtz)
- We may be headed towards a soft landing, but inflation is taking a toll on Americans’ budgets. (NYT)
- Meta is beginning its third and final round of layoffs. (Reuters)
- Good and bad news if you are traveling this holiday weekend. Gas is cheap, but prepare for traffic and crowds at airports. (Marketwatch)
- If you are up for a slightly longer read, this paper from the San Francisco Fed looks at the Rise and Fall of Excess Pandemic Savings.
- A Wealth of Common Sense breaks down the stats on market slumps over the years.
- Crypto firm Binance seems to have committed a no-no similar to FTX by co-mingling customer funds with corporate ones. A Reuters special report digs into the allegations and explanations.
- Minnesota Becomes 20th State to require Personal Finance for all High School Graduates!!! (Yahoo Finance)
- The pandemic took a toll on enrollment at institutions of higher learning. Have they hit bottom? (Inside Higher Ed)
- The Surgeon General warns of the impact of social media on the mental health of our kids. (NYT)