“Grief is really just love. It’s all the love you want to give, but cannot. All that unspent love gathers up in the corners of your eyes, the lump in your throat, and in that hollow part of your chest. …
The post Children’s Movies are Obsessed with Death, but Don’t Show Healthy Grief appeared first on Tiny Buddha.
When people experience your value and generosity, they like you, trust you, become a raving fan, give you testimonials and referrals without even having been a ‘customer’ of yours yet.
The post Giving Your Knowledge Away for Free Will Make You Rich appeared first on Addicted 2 Success.
Ross Blum, the President and COO of Skyline Robotics a company that is changing a 40 billion dollar window washing industry again joins Enterprise Radio.
The post Skyline Robotics Window Washing Robot Takes to NY Skyscrapers with New Investment appeared first on Enterprise Podcast Network – EPN.
Sometimes, a painting in words is worth a thousand pictures. I think about this more and more, in our compulsively visual culture, which increasingly reduces what we think and feel and see — who and what we are — to what can be photographed. I think of Susan Sontag, who called it “aesthetic consumerism” half a century before Instagram. In a small act of resistance, I offer The Unphotographable — Saturdays, a lovely image in words drawn from centuries of literature: passages transcendent and transportive, depicting landscapes and experiences radiant with beauty and feeling beyond what a visual image could convey.
“Courage, devotion, the spirit of sacrifice, are as contagious as cowardice, submission, and panic.”
Sukhi Lamba, Co-founder and CEO of NavigateIO, the first commercialized infrastructure-free, real-time localization technology that first responders use to track and monitor their crew during emergencies joins Enterprise Radio.
The post An Inside Look to NEC X’s Venture Studio appeared first on Enterprise Podcast Network – EPN.
U.S. consumer spending is experiencing a “mitigation of growth” but not a slowdown, Bank of America CEO Brian Moynihan said Friday.
Interest rate hikes by the Federal Reserve are starting to be felt in the housing and auto markets, and renters will see their budgets squeezed as landlords pass on higher costs, he told CNBC’s “Squawk Box Europe.” But he stressed that consumer spending remains strong.
“If you raise rates and slow down the economy to fight inflation, the expectation is you have a slowdown in consumer spending. It hasn’t happened yet. So it could happen, but it hasn’t happened yet,” Moynihan said.
“You’re seeing a mitigation of the rate of growth, not a slowdown. Not negative growth.”
Bank of America expects the Fed to hike rates by 75 basis points and 50 basis points at its two remaining meetings this year, followed by two 25 basis point increases next year. One basis point equals 0.01%.
That will take the funds rate to around 5% and the Fed can then “let it work,” Moynihan said.
The current rate of 3%-3.25% is the highest it’s been since early 2008 and follows three 75 basis point rises in a bid to combat inflation, which was running at 8.2% on an annual basis in September.
Economists, politicians and business leaders are split on whether the U.S. economy is heading for a recession or is already in one. U.S. gross domestic product grew for the first time this year in the third quarter, expanding at a higher-than-expected 2.6% annually.
JPMorgan boss Jamie Dimon told CNBC he expects a recession in six to nine months given quantitative tightening and the unknown impact of Russia’s war in Ukraine.
But for now, consumers still have strong credit, unemployment is low, wage growth is strong and corporations are in good shape with strong underlying credit — even if growth and earnings are slowing, Moynihan said. However he did concede there were risks from unforeseen events with “low probability and high impact.”
“You don’t see those risks evidencing in behavior change of companies and consumers yet. People aren’t laying off massive amounts of people, they’re not hiring as many,” he said.
Asked whether the corporate credit market was flashing any warning signs, Moynihan said, “I would not confuse credit risk with pricing risk.”
“Growth and earnings may be slowing down, again because the economy recovered very fast and had major growth that flattens out a little bit. If you see negative GDP prints, of course corporate earnings might slow down,” he added.
“But on the other hand they’re still making money, the margins are still holding … the underlying credit, the underlying structure of the credit, the underlying credit quality is very strong.”
Moynihan said Europe could see a recession early to mid next year before “coming back out the other side,” with the war in Ukraine and energy crisis risks on the horizon.
“But right now you don’t see the conditions because the employment’s strong, the underlying activity’s strong, the amount of stimulus that was put in is still in the markets that people don’t see it as a deep recession.”
He added: “The energy question is much different than the U.S. The good news is the U.S. is a big economy, if we can get the energy to Europe, for the people to heat their homes and industry to run, that would be a good thing. And I know all the companies are working on it, because I talk to them about it.”
Clarification: This article has been updated to clarify that Brian Moynihan was discussing growth in U.S. consumer spending.
An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday.
The core personal consumption expenditures price index increased 0.5% from the previous month and accelerated 5.1% over the past 12 months, the report showed. The monthly gain was in line with Dow Jones estimates, while the annual increase was slightly below the 5.2% forecast.
Including food and energy, PCE inflation rose 0.3% for the month and 6.2% on a yearly basis, the same as in August.
The report comes as the Fed is prepared to enact its sixth interest rate increase of the year at its policy meeting next week. In an effort to combat inflation running at its fastest pace in nearly 40 years, the Fed has been raising rates, with increases totaling 3 percentage points thus far.
Markets widely expect the Fed to enact its fourth straight 0.75 percentage point increase at the meeting, but possibly slow down the pace of hikes after that.
The BEA also reported that personal income increased 0.4% in September, one-tenth of a percentage point above the estimate. Spending as gauged through personal consumption expenditures increased 0.6%, more than the 0.4% estimate.
However, when adjusted for inflation, spending rose just 0.3%. Disposable personal income, or what is left after taxes and other charges, rose 0.4% on the month but was flat on an inflation-adjusted basis.
The personal saving rate, which measures savings as a share of disposable income, was 3.1% for the month, down from 3.4% in August.
A separate release Friday showed that employment costs rose 1.2% for the third quarter, in line with estimates, according to the Bureau of Labor Statistics. On an annual basis, the employment cost index increased 5%, slightly lower than the 5.1% pace in the second quarter.
Fed officials watch Friday’s data points closely for clues about where costs are headed, particularly with a tight labor market in which there are 1.7 jobs per every available worker, according to recent BLS data.
The Fed prefers the PCE price reading to the more widely followed consumer price index from the BLS. The BEA measure adjusts for consumer behavior, in particular substitution of less expensive goods, to determine cost-of-living increases rather than simple price moves.
Markets think the Fed might downshift the pace of its rate hikes ahead. Futures pricing Friday morning indicated a nearly 60% chance that the central bank will increase rates 0.5 percentage point in December.
Correction: A separate release Friday showed that employment costs rose 1.2% for the third quarter, according to the Bureau of Labor Statistics. An earlier version misstated the day.
Leading a small business requires a strong leadership presence. While you might not be a natural leader, that doesn’t mean you can’t learn the necessary skills. Learning these can help you build a successful company from the ground up.
The post 4 Ways to Succeed as a Small Business Leader appeared first on Entrepreneurship Life.
“Life is a balance between what we can control and what we cannot. I am learning to live between effort and surrender.” ~Danielle Orner
I was slumped against a wall at Oxford Circus Station early one Sunday evening when an …
The post 5 Life Lessons from a Brain Tumor That Could Have Killed Me appeared first on Tiny Buddha.
