Week of 10/19/2022

Inflation remains high when prices are measured compared to the same month last year. The rate is not increasing markedly month-to-month, which is a positive development. Because monetary policy (what the Federal Reserve does) takes 6-9 months to impact the real economy, it is too early to know what higher rates are doing to prices. Many eyes are on housing, with important numbers expected this week.

Ben Bernanke is sharing the Nobel Prize for Economics with 3 other researchers. Before his time as Chair of the Federal Reserve, he had an impressive career in research. Some of his contributions are listed here. His actions during the financial crisis were clearly influenced by his work on the Great Depression. We like this thought from author James Clear: "Two competing truths: The more prepared person usually wins. You get credit for action, not preparation." MrBeast might be the greatest living YouTuber. He has built an incredible empire, generating millions of dollars of profit each month. For a breakdown of his success, this Twitter thread has the goods. How does Costco keep their Rotisserie chicken price at $4.99? By losing money. A man's streak of visiting Disneyland for 2,995 consecutive days was halted in 2020 by Covid shutdowns.

Q: What’s new with the student loan program? A: Applications for student loan forgiveness are now available. Relief is available to individuals with less than $125k of income and couples with less than $250k. Applicants should be aware of potential tax consequences, especially in states with income tax.

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