![]() Special purpose acquisition companies, which provide blank checks from investors and were all the rage last year, have fallen on hard times. Copper, often considered an economic bellwether, has fallen more than 15%, and cotton has slumped more than 13%.Ĭapital markets also have taken a beating. Bitcoin, the highest-profile cryptocurrency, has tumbled nearly 60%. The Nasdaq, which has a stronger tech focus, has suffered losses approaching 30%. ![]() "He's got to move because, if he doesn't, he's going to be chasing the market and he's not going to get there."īesides the damage to the big stock market averages such as the S&P 500 and the Dow Jones Industrial Average, which is down more than 14% year to date, there has been carnage everywhere. now he's losing total control," Allianz economic advisor Mohamed El-Erian recently told CNBC. As recently as December 2021, the Fed, which targets inflation at 2%, was projecting its preferred headline measure to run at 2.6% this year new data Thursday showed it at 6.3%, with core inflation excluding food and energy even running at 4.7%.įed Chair Jerome Powell "needs to regain control of the inflation narrative. Uncertainty about the path ahead has compounded the nettlesome impact of inflation running by one Labor Department measure at 8.6%, the highest since December 1981. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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