Bloomberg - Evening Briefing - The ‘Goldilocks’ scenario

Bloomberg Weekend Reading

It’s still hot—but not blistering. The US labor market remains robust with solid wage growth and a healthy demand for workers. Unemployment has ticked up, indicating some have re-entered the job hunt, a welcome sign for the Federal Reserve as it weighs September’s expected interest rate hike. Chair Jerome Powell emphasized the “out of balance” nature of the labor market last week while acknowledging that the combination of higher rates, slower growth and a softer employment picture will bring “some pain” as the central bank tries to get prices under control. While a so-called hard landing (otherwise known as a recession) is still being predicted in some quarters, the latest jobs data contain “favorable signs for the Fed’s Goldilocks scenario” of a soft landing, according to Bloomberg Intelligence. But there’s a third possibility, one that comes with an oxymoron for a moniker: it’s called a “growth recession.” 

What you’ll want to read this weekend

The Group of Seven plans to put a price cap on global purchases of Russian oil—a measure top industrialized nations hope will ease energy market pressures and slash Moscow’s revenues as it continues its war on Ukraine. The European Union, facing a tough winter, is also planning short-term measures to limit soaring prices that threaten to tip the region into recession. In the US, California declared a grid emergency amid a heat wave, raising prospects for rolling blackouts.

After years of debate, Twitter is launching an edit button—but it will be available only to users who pay. Lawyers for prolific Twitter user Elon Musk, who is trying to abandon his bid to buy the social media company, subpoenaed Stanford University over communications tied to the deal. 

The Justice Department said there’s evidence classified documents at Donald Trump’s Florida home may have been concealed or removed before a June FBI visit. A viral photo shows some of the documents bearing labels denoting the highest levels of security classification. Half of Americans say Trump should be prosecuted as part of the intensifying criminal investigation into his handling of the nation’s secrets.

A photo of classified government documents found in Donald Trump’s Florida home, submitted as evidence by the Department of Justice in federal court in Florida. Source: US Department of Justice

Bank of America has launched a trial program aimed at helping first-time US homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down-payments, closing costs or minimum credit scores. Overall, mortgage rates continued to climb to their highest level since June. Amid skyrocketing housing costs in New York City, lawmakers and advocates there are urging action to make some 100,000 basement apartments safer from flooding.

Aspen has long been known as a top ski destination boasting exclusivity and cultural cachet. With the pandemic having made remote work more accessible to many, the tony Colorado city has become even wealthier thanks to an influx of finance power players.

Aspen, Colorado Photographer: David Williams

What you’ll need to know next week

What you’ll want to read in Businessweek

Single, Childless Women Are Getting Richer

Parenthood was losing its appeal long before Covid-19, and the hardship brought on by the pandemic appears to have accelerated the trend. Indeed, forgoing marriage and parenthood saves money, bringing a bigger payoff for American women than men. Women who decide not to marry and have kids are advancing further in their careers than prior generations—entering a new frontier of wealth. 

Ashley Marrero, a sales representative for a maker of medical devices, says she relishes the financial freedom that comes with being single and without children. Photographer: Ben Sklar

Older messages

Labor Day for the Fed

Friday, September 2, 2022

Bloomberg Evening Briefing View in browser Bloomberg US employers added a healthy number of jobs in August as a steady stream of people returning to the workforce suggests some easing in a tight labor

‘Extremist threat’

Thursday, September 1, 2022

Bloomberg Evening Briefing View in browser Bloomberg US President Joe Biden, having touted legislative victories including major infrastructure funding and a landmark climate initiative, as well as

Forget the soft landing

Wednesday, August 31, 2022

Bloomberg Evening Briefing View in browser Bloomberg Forget about a soft landing. Federal Reserve Chair Jerome Powell is now aiming for something much more painful for the economy to put an end to

The Fed has more work to do

Tuesday, August 30, 2022

Bloomberg Evening Briefing View in browser Bloomberg All signs point to another big interest-rate hike if the latest economic reports have anything to say about it. US job openings unexpectedly jumped

The latest on Trump probes

Monday, August 29, 2022

Bloomberg Evening Briefing View in browser Bloomberg The US Justice Department said a “limited set” of material seized from former President Donald Trump's home by FBI agents seeking classified

The Daily StockTips Newsletter 10.04.2022

Tuesday, October 4, 2022

(Published 7:30 AM ET MON-FRI) ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Wall Street: Credit Suisse's turmoil

Tuesday, October 4, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Good morning! This is Lisa Ryan, reporting from New York. In case you missed the memo yesterday, Aaron Weinman

How The “Black Metropolis” Made A Comeback

Tuesday, October 4, 2022

Bronzeville was the epicenter of a Black renaissance before it fell on hard times. Now, it's booming again. Here's the story of its incredible turnaround. View this email online Planet Money

Darkest hours

Monday, October 3, 2022

Bloomberg Evening Briefing View in browser Bloomberg Credit Suisse shares briefly turned positive in a wild day of trading that saw them drop as much as 12%. With yet another restructuring looming,

🚙 Tesla takes a hit

Monday, October 3, 2022

Tesla delivered fewer cars than expected | Reports said OPEC+ might cut oil production | TOGETHER WITH Hi Reader, here's what you need to know for October 4th in 3:12 minutes. 📞 Listening to

One easy way to upgrade your financial wellness

Monday, October 3, 2022

Become an Ellevest client and start investing. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

I compared Walmart and Target, and found the two superstores are offering completely different types of convenience

Monday, October 3, 2022

Target is a home and clothing store that also stocks groceries. Walmart is a grocery store focused on stocking a huge range of products at low prices. View in browser Business Insider Business Insider

🚀 The deal with celebrity deepfakes

Monday, October 3, 2022

Plus, DALL-E is now open to everyone! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Counterintuitive Economics of Hiring

Monday, October 3, 2022

Plus! Smartphones and Distributed Law Enforcement; Actors as IP; Microtransactions; Partnerships; Streaming; Diff Jobs ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Wall Street: M&A, lending plummet

Monday, October 3, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hi. I'm Aaron Weinman. Today will be my final dispatch as the author of 10 Things on Wall Street. I'm