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- Daily Scoop 22-6-22
Daily Scoop 22-6-22
👋 Your Wednesday Scoops - Southwest pilot madness & McD's goes zero-carbon
Today's Scoop:Bumpy
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Big Picture
Gas prices are coming down a bit.
Recession risks are rising.
Policymakers are focused on bringing inflation down.
The Market:
⬇️
-0.1%
S&P 500: 3,759.89
1Mo:
-5%
| 1Yr:
-11%
| 5Yr:
+54%
Markets wavered today as investors continued
debating the likelihood of a recession.
Wall Street analysts and economists are
increasingly incorporating a light recession into their one-year forecasts
. A paper released by the Federal Reserve gave us a 50/50 likelihood of a recession in the next twelve months.
The Federal Reserve Chairman testified in front of Congress today and reiterated the Central Bank's
commitment to bringing down inflation.
They'll keep raising interest rates and removing the emergency economic support that stimulated the economy during the pandemic.
The Fed thinks the economy is strong enough to handle higher rates
.
Gas prices are coming down from their recent record highs.
AAA reported the national average at nearly $5 per gallon. President Biden's pushing for a gas tax holiday that could shave a minor amount off of the price at the pump.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Southwest
-
Microsoft
-
Kellogg
-
McDonald's
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DocuSign
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Recession
is a very scary word for many of us. The last two recessions have been two of the most devastating
economic crises
of the previous fifty years, but it's essential to know that not every recession is a crisis. Economists typically identify a recession as two consecutive quarters of
negative GDP growth
, meaning the total production of the US economy declines for six months. US GDP declined in the first quarter. We produced less than the fourth quarter. The second quarter ends next week, and estimates of economic production are about flat, potentially down, compared to the first quarter. So we may already be partly or mostly through the recession. Economies can't grow in perpetuity. They boom, slow, rise again and sometimes crash. Shutting off the global economy and trying to turn it back on will likely leave some turbulence for years to come, as we move from crash to boom, to slow, and then hopefully rise again.
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