Stocks week ahead: How long will inflation last? The answer lies in the past

So the central bank has broken up with “transitory” and set its eyes on a new inflation-modifying term: entrenched. “It’s our job to make sure that inflation of that unpleasant high nature doesn’t get entrenched in the economy,” said Fed Chair Jerome Powell last Wednesday, just after he announced a half-point interest rate hike to … Read more

Meta is opening a store as VR headset sales inch closer to mainstream

Katie Contreras and Chris Nguyen, experience experts, stand at the Customer Onboarding station for the Quest Demo space during the preview of the inaugural physical store of Facebook-owner Meta Platforms Inc in Burlingame, California, May 4, 2022. Brittany Hosea-Small | Reuters A good number of teenagers have virtual reality headsets, but have they starting using … Read more

Your new ‘retirement’ home could be a cruise ship

Jeff Farschman, 72, is a serial cruiser from Delaware who spends months at sea in retirement. Jeff Farschman For nearly two decades, Jeff Farschman, 72, has spent his golden years like many other adventurous retirees — enjoying leisurely cruises to exotic ports of call. But unlike many of his fellow cruise passengers, Farschman basically lives … Read more

Google raising employee pay in performance review revamp

Sundar Pichai, Google CEO David Paul Morris | Bloomberg | Getty Images Google is overhauling its performance evaluation process, implementing changes that will result in increased salaries, as the company tries to ease tension between employees and leadership on the issue of compensation. Starting this week, Google is using a new process for performance reviews … Read more

OPEC Stays Silent As US Rushes To Ban Russian Oil

The Organization of Petroleum Exporting Countries and its partners in OPEC+ led by Russia decided this week they would not increase their target production figure for next month. Effectively, OPEC+ slapped the EU in the face, as this decision means no additional oil is coming to Europe to replace sanctioned Russian barrels. The European Commission … Read more

This Week in Coins: Markets Slide Fifth Straight Week, Argentina’s Largest Private Bank Offers Bitcoin

This week in coins. Illustration by Mitchell Preffer for Decrypt. For the fifth consecutive weekleading cryptocurrencies like Bitcoin and Ethereum fell, even as signs of wide adoption keep popping up: Gucci’s US customers will be able to pay with Bitcoin in certain stores later this summer. Still, prices are a fair indicator of how the … Read more

What is a recession, and how scared should we be?

Wall Street is on edge. Central banks are hiking interest rates to try to rein in inflation. And geopolitical upheaval is exacerbating supply chain headaches that began in 2020. “We will get a major recession,” Deutsche Bank economist warned last month, staking out the more bearish position on Wall Street. Bank of America, in the … Read more