Bahsegels

Linked media - Connected media The rise of international trade, Mr. Kelly added, can often offset slowing domestic demand since businesses, enabled by the internet, can find customers throughout the globe. And the service sector’s growth, he concluded, has “made the economy more stable and, importantly, less sensitive to interest rates.” Across the economics profession, many are not feeling as reassured. When weighing recession risks, Thomas Herndon, a professor of economics at John Jay College of the City University of New York, doesn’t take much long-term solace in the growing sophistication of big business. There are, he said, “many, many, many causes” for downturns — some of which are not directly linked to financial instability. Mr. Herndon noted the work of the 20th-century Pol...

Linked media - Linked media Mr. Biden said on Wednesday that he stood by his prediction that the Fed would lower interest rates this year — an unusual comment from a president who usually avoids talking about Fed policy out of respect for the central bank’s independence from the White House. “This may delay it a month or so — I’m not sure of that,” Mr. Biden said. Many Fed watchers think today’s high rates could persist for considerably longer. Many economists and investors previously expected rate cuts to start in June or July. After this week’s inflation report, investors increasingly see rate cuts starting in September or later. Blerina Uruci, chief U.S. economist at T. Rowe Price, noted that the longer inflation flatlined, the more it could delay rate cuts: Officials are likely t...

Related media - Connected media If they persevere, they move up the ranks to associate, then director and managing director; a handful end up running divisions. Although grueling, the life of a senior banker can be glamorous, involving traveling around the globe to pitch clients and working on big-money corporate merger deals. Many who get through the two-year analyst program have gone on to become business titans — the billionaires Michael Bloomberg and Stephen Schwarzman began their careers in investment banking — but a majority will leave before or after their two years are up, bank representatives said. There are jokes among junior bankers that the most common tasks of the job involve dragging icons from one side of a document to another, only to be asked to replace the icon over...

Linked media - Related media The unexpected re-acceleration in price growth across the economy is at least a temporary setback for President Biden, who has been banking on cooling inflation to lift his re-election prospects. Mr. Biden and his aides have publicly cheered the retreat of annual inflation rates over the last year, after watching the fastest price growth in 40 years dent the president’s approval ratings earlier in his tenure. They have been anxious for inflation to fall even further, in order give relief to consumers and to potentially spur the Federal Reserve to cut interest rates — a move that would help to drive down borrowing costs for mortgages, car loans and other consumer credit. Mr. Biden has been particularly focused on home buyers, including young voters who are...

Related media - Related media A trained accountant, Mr. Leibner was described in a 1989 profile by Ben Yagoda in The New York Times Magazine as an idiosyncratic character with a “remarkable emotional range.” “He can be plaintive, cajoling, jocular, terse, profane, sentimental, jovial, respectful, dismissive, analytical or expansive: The one constant is the strain of his native Brooklyn in his voice,” Mr. Yagoda wrote. He was also known for telling incredibly dirty jokes. Andrew Heyward, a former president of CBS News, said in a phone interview: “It would have been easy to dismiss him as a Damon Runyonesque showman, but when it came to actual negotiations, he’d come in, sit on the couch with a legal pad and pen, and we’d go through the details together. He was scrupulously detailed an...

Linked media - Associated media Roberto Cavalli, the Italian-born fashion designer who celebrated glamour and excess, sending models down the runway and actresses onto red carpets wearing leopard-print dresses, bejeweled distressed jeans, satin corsets and other unapologetically flashy clothes, has died. He was 83. His company announced the death on Instagram but provided no details. Mr. Cavalli’s signature style — “molto sexy, molto animal print and molto, molto Italiano,” as the British newspaper The Independent once described it — remained essentially unchanged throughout his long career. But he skillfully reinvented his clothes for different eras, enjoying several renaissances and building a global lifestyle brand in the process. In the 1970s, Mr. Cavalli designed jackets, jeans ...