PCC Community Markets CEO to step down after leading turnaround
Krishnan Srinivasan, the former tech exec who helped steer PCC out of financial turmoil, will step down as CEO early next year.
The Seattle Times Economy – The Seattle Times
Read the latest news about the Seattle and U.S. economy from a Pacific Northwest perspective.
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Skyrocketing beef prices finally have Americans reaching their spending limit
After absorbing nearly two years of surging beef prices, consumers are shifting to less expensive proteins, such as chicken.
‘Many’ Fed officials think higher rates will be needed if inflation stays high
Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn’t subside, minutes of the Fed’s meeting last month showed.
Sinking AI stocks pull Wall Street further from its record
Wall Street pulled further from its all-time high as AI stocks got back to sinking.
‘Buy now, pay later’ lenders pitch loans for needs like electricity and rent
The rapid growth of pay-later loans raises questions about whether their popularity is driven by consumer preference or desperation.
US Bond Selloff Drives 30-Year Yields to Highest Since 2007
The yield on 30-year U.S. Treasuries hit the highest in almost two decades, reflecting investor angst over the surging national debt and stubborn inflation.
US stocks edge further from their record after oil prices rise
U.S. stocks slipped further from their record heights after rising oil prices cranked up the pressure on inflation and financial markets.
Online forum Reddit will join the influential and closely tracked S&P 500 index
Reddit will join the S&P 500 next week, giving the wide-ranging online forum a boost in prestige and investments.
US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades
The drop in spending raises concerns about the resiliency of consumers who have powered through, despite nagging inflation and soaring gasoline prices.
Wall Street slips from its record following the latest weak update on the US economy
U.S. stocks edged back from their all-time high following the latest economic report to come in surprisingly weak.