Daily Scoop 22-7-27

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Today's Scoop:Inflated

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Big Picture

1. Policymakers don't think we're in a recession.

2. Interest rates are going up.

3. Corporate profits have been better than expected.

The Market: 

⬆️

+2.6%

S&P 500: 4,023.61

1Mo:

+5%

| 1Yr:

-9%

| 5Yr:

+63%

Markets rallied higher today after the Federal Reserve's policy update.

The Fed doesn't believe we're in a recession

, seeing too many areas of strength in the economy, and raised interest rates again to battle inflation.

Baseline interest rates rose by 0.75%

. Chairman Powell hinted at an end to interest rate increases if inflation starts to come down.

Roughly 150 companies in the S&P 500 have reported on their second quarter financial health, and the sentiment has varied significantly. More than

70% of companies have reported higher profits than investors expected.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Hilton

profits soar on travel surge

-

Spotify

keeps dominating

-

Google

does better than other advertisers

-

Shopify

hits reset on the e-commerce boom

-

Microsoft

takes a breather

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

The

Federal Reserve

, aka the

Central Bank,

aka The Fed, is in charge of our whole money system. When the economy is struggling, the Fed lowers baseline

interest rates

to make it cheaper for consumers and businesses to borrow and spend. The Fed also pumps more money into the system by buying bonds with new dollars that it essentially speaks into existence. The additional cash keeps the pipes flowing as the borrowing and spending heat up, stimulating economic activity. Once the economy's strong enough to stand on its own, the Fed starts to raise interest rates and pull back some of that money to ensure the economy doesn't overheat.

Inflation

is the Fed's heat gauge. So everyone's watching whether the Fed can dial back the

stimulus

measures quickly enough to slow inflation and cool the economy but not so quickly that it completely freezes growth.

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