Here is a rundown of Cheddar News' top trending market stories of the day.
POWELL ON INFLATION
Despite inflation cooling down in recent months, Fed Chair Jerome Powell in a speech on Wednesday said the U.S. economy still has a long way to go. “The disinflationary process, the process of getting inflation down, has begun and it’s begun in the goods sector, which is about a quarter of our economy," he said. That means more rate hikes are coming down the pike, though likely at a slower pace than last year. The Fed raised its benchmark rate just a quarter of a percent earlier this month, compared to a number of 50 and 75-basis point hikes last year.
SOUTHWEST MELTDOWN
In the wake of the meltdown at Southwest Airlines, Democratic senators have introduced a bill to create an Airline Passengers' Bill of Rights. The law would require airlines to provide a full refund on tickets (as well as other benefits) when delays or cancellations are caused by the airlines. In the case of an oversold flight, for instance, airlines would have to pay a minimum of $1,350 to passengers who are denied boarding.
META MANAGERS
Meta CEO Mark Zuckerberg has a stern message for managers: Get back to actually making things or leave. That means stepping back into "individual contributor" roles, rather than their current roles focused primarily on management. The process is known internally as a "flattening," which is designed to make the company more efficient. The tech giant laid off about 13 percent of its workforce in late 2022. Zuckerberg is calling 2023 the "Year of Efficiency."
ROKU & DOORDASH PARTNER
Roku has struck a multi-year partnership with DoorDash giving users a six-month trial of DashPass, which offers $0 delivery fees and other deals. In addition, DoorDash merchants can now buy interactive ads that allow customers to directly click through to get offers. The first restaurant to participate is Wendy's, which is offering $5 off purchases of $15 or more.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
