Economics/Inflation

• Core PCE, the Fed’s favorite measure of inflation was 4.9% in April, slightly lower than March. (CNBC)
• Bi-partisan CBO issues its report on the upcoming budget: deficits shrinking but inflation (albeit lower than today) will persist until supply and demand get back in sync. (WAPO-subscription may be required.) (NBCNY)
• High gasoline prices are driven much more by reduced capacity of oil refineries than the price of crude oil. In spite of enjoying record profit margins, refineries are not planning to increase capacity. (Marketplace)
• Cars are hard to find, and cost a fortune. It is no surprise that people in the US are holding onto their cars longer than at any point in the twenty years this statistic has been tracked. (CBS)
• Is a recession inevitable? Read what Alhambra Partners investment advisors are saying.
• We have seen average hourly earnings increase during the pandemic, but those gains pale in comparison to CEO pay. (AP News)

Investing

• The Bull market brought lots of day traders into the market. How are they managing now? (CNN)
• Of Dollars and Data gives us reasons not to panic in this market downturn by looking to the past:

As the saying goes, “history doesn’t repeat itself, but it often rhymes.”

• We officially entered bear market territory this month. For data fanatics, check out this comparison of bear markets through history. (Compound Advisors)
• Stocks started to turn around this week, ending eight weeks of declines, after Fed minutes were released and signs of slowing inflation. (CNBC1) (CNBC2)
• The SEC has released proposed rules governing use of the label “ESG” by mutual funds and ETFs and required transparency on their investments. (CNBC)

NFTs

• Read how people who shelled out big money for digital art (NFTs) may now be questioning these investments. (Washington Post-subscription may be required)

Population trends/Census

• Big cities saw their populations drop during the pandemic. (Axios)
• The US birthrate rose slightly for the first time since 2014 in 2021. (Fox) (Axios)

Higher Education

• College enrollment declines for the fifth straight semester. (NYT-subscription may be required) (Forbes)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.