A little perspective with the tech layoffs.
Salesforce is laying off up to 8K employees.Here is the link.
Here is the link.
WASHINGTON – Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank’s December meeting.
At a meeting where policymakers raised their key interest rate another half a percentage point, they expressed the importance of keeping restrictive policy in place while inflation holds unacceptably high.
“Participants generally observed that a restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2 percent, which was likely to take some time,” the meeting summary stated. “In view of the persistent and unacceptably high level of inflation, several participants commented that historical experience cautioned against prematurely loosening monetary policy.”
The increase ended a streak of four consecutive three-quarter point rate hikes, while taking the target range for the benchmark fed funds rate to 4.25%-4.5%, its highest level in 15 years.
Officials also said they would focus on data as they move forward and see “the need to retain flexibility and optionality” regarding policy.
Officials further cautioned that the public shouldn’t read too much into the rate-setting Federal Open Market Committee’s move to step down the pace of increases.
“A number of participants emphasized that it would be important to clearly communicate that a slowing in the pace of rate increases was not an indication of any weakening of the Committee’s resolve to achieve its price-stability goal or a judgment that inflation was already on a persistent downward path,” the minutes said.
Following the meeting, Fed Chairman Jerome Powell indicated that while there has been some progress made in the battle against inflation, he saw only halting signs and expects rates to hold at higher levels even after the increases cease.
The minutes reflected those sentiments, noting that no FOMC members expect rate cuts in 2023, despite market pricing.
Markets currently are pricing in the likelihood of rate increases totaling 0.5-0.75 percentage point before pausing to evaluate the impact the hikes are having on the economy. Traders expect the central bank to approve a quarter-point increase at the next meeting, which concludes Feb. 1, according to CME Group data.
Current pricing also indicates the possibility of a small reduction in rates by the end of the year, with the funds rate landing around a range of 4.5%-4.75%. Fed officials, however, have expressed doubt repeatedly about any loosening of policy in 2023.
The minutes noted that officials are wrestling with two-pronged policy risks: One, that the Fed doesn’t keep rates high long enough and allows inflation to fester, similar to the experience in the 1970s; and two, that the Fed keeps restrictive policy in place too long and slows the economy too much, “potentially placing the largest burdens on the most vulnerable groups of the population.”
However, members said they see the risks more weighted to easing too soon and allowing inflation to run rampant.
“Participants generally indicated that upside risks to the inflation outlook remained a key factor shaping the outlook for policy,” the minutes said. “Participants generally observed that maintaining a restrictive policy stance for a sustained period until inflation is clearly on a path toward 2 percent is appropriate from a risk-management perspective.”
Along with the rate hikes, the Fed has been reducing the size of its balance sheet by allowing up to $95 billion in proceeds from maturing securities to roll off each month rather than be reinvested. In a program started in early June, the Fed has seen its balance sheet contract by $364 billion to $8.6 trillion.
While some of the recent inflation metrics have shown progress, the labor market, a critical target of the rate increases, has been resilient. Nonfarm payroll growth has exceeded expectations for most of the past year, and data earlier Wednesday showed that the number of job openings is still nearly twice the pool of available workers.
The Fed’s preferred inflation gauge, the personal consumption expenditures price index less food and energy, was at 4.7% annually in November, down from its 5.4% peak in February 2022 but still well above the Fed’s 2% target.
Economists, meanwhile, largely expect the U.S. to enter a recession in the coming months, the result of the Fed’s tightening and an economy dealing with inflation still running near 40-year highs. However, fourth-quarter GDP for 2022 is tracking at a solid 3.9% rate, easily the best of a year that started out with consecutive negative readings, according to the Atlanta Fed.
Minneapolis Fed President Neel Kashkari said Wednesday, in a post for the district’s website, that he sees the funds rate rising to 5.4% and possibly higher if inflation doesn’t trend down.
Professor, Director, McMaster Digital Transformation Research Centre,
Dr. Milena Head is a Professor of Information Systems at DeGroote, Acting Director, McMaster Digital Transformation Research Centre the Wayne C. Fox Chair in Business Innovation and Academic Director of the EMBA program at the DeGroote School of Business. She specializes in electronic business (eBusiness) and Human Computer Interaction (HCI), having published over 100 papers in academic journals, books and conferences. Her research interests include trust, privacy and adoption of electronic commerce and new technologies; interface design; and cross-cultural, gender and age issues related to technology use. She also examines the potential negative impacts of technology, including identity theft, techno-stress and cyber-bullying. Milena has received numerous teaching and research awards and is frequently called upon by the media and by community groups to speak about her research.
Beyond her academic roles, Milena has acted as a personal consultant on topics of eCommerce strategy, usability and fraud management, and has been an invited speaker at numerous corporate events and meetings. She also developed a senior MBA course at the DeGroote School of Business in partnership with AT Kearney, enabling students to work with real clients on real consulting projects.
Experience
I consider teaching to be a critical component of my appointment at McMaster. While research requires time, diligence, patience and creativity, I believe that effective teaching also requires these traits, and more. I believe that successful learning is a partnership between teacher and student. It should be a cooperative process that involves open communication. I strive to create an atmosphere of exploration, inquiry and excitement in my classrooms.
Courses Taught
Graduate:
Undergraduate:
Executive Training:
MBA D701 A.T. Kearney Student Lab: Fall 2012
法新社报道，加拿大禁止外国买家在本国购买住宅物业的法案于当地时间2023年1月1日正式生效，并将持续2年。
Here is the article.
You can use your phone's mobile data to connect another phone, tablet, or computer to the internet. Sharing a connection this way is called tethering or using a hotspot. Some phones can share Wi-Fi connection by tethering.
Most Android phones can share mobile data by Wi-Fi, Bluetooth, or USB.
Important: Some mobile carriers limit or charge extra for tethering. We recommend checking with your carrier.
and drag Hotspot https://www.geeksforgeeks.org/different-ways-to-connect-one-computer-to-another-computer/
Here is the link.
华尔街几家大型投行的分析师预测，美股在2023年上半年仍将疲软，在开始反弹之前，将重新测试2022年触及的低点。
Here is the link.
Morgan Stanley's Mike Wilson on what's next for the market heading into the end of the year. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Dan Nathan, Guy Adami and Steve Grasso. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
1. Exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates
2. Easy access to a new type of Treasury bond (first issued in January 2014)
3. Use to put cash to work, seek stability, and manage interest rate risk
We are buying bonds, We;re buying preferred at 11%, 12% yields. T-flows, 短期国债， ETFs.
Low risk with return over 10%
16:06/01:07:62
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