For years, the US economy has been booming. But now, it’s starting to look like that party might be coming to an end.
The reason? The Federal Reserve has been tightening monetary policy, and asset prices are plunging as a result.
Stocks Have Plunged $12 Trillion Since January
The first casualty of the Fed’s policy change has been the stock market. As measured by the Wilshire 5000 all-cap index, stocks have shed $12 trillion of market capitalisation since January. That’s a loss of nearly 30% from the peak. And it shows no signs of stopping any time soon.
Bonds Have Lost 14% of Their Value
Bonds have also taken a beating. Over the past year, bonds have lost 14% of their value, wiping out $7 trillion in market capitalisation. And with interest rates rising, there’s no end in sight for this sell-off either.
Cryptocurrencies Have Vanished $2 Trillion in Market Cap
Cryptocurrencies have been hit particularly hard. After surging to record highs last year, crypto prices have slumped back down to Earth. In the past year, cryptocurrency prices have fallen by more than 50%. That’s wiped out $2 trillion in market capitalisation. And there’s no telling how far prices could fall if the sell-off continues.
House Prices Are Falling Too
Finally, even house prices are starting to come down. They don’t adjust as quickly as other asset prices, but they’re still falling. Mortgage rates have risen to 7%, up from 3% last year. That’s making it harder for buyers to afford homes. As a result, prices are starting to come down.
The US economy has been booming for years now. But that party might be coming to an end—and the reason is the Federal Reserve. By tightening monetary policy, the Fed has sent asset prices plunging and set off a chain reaction that could eventually lead to a recession. So what does this mean for you? Here’s what you need to know…
Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.
Navigating the delicate subject of salary expectations during a job interview can feel like tiptoeing through a minefield.
The mere mention of the question often sends shivers down the spines of even the most seasoned job seekers. Yet the job interview process could be the one time where you can set the expectations and avoid resentment later down the track.
To shed light on this daunting aspect of the interview process, I turned to a diverse array of colleagues spanning various industries and experience levels for their insights.
Here are five strategies they shared on how to approach the tricky topic of salary during a job interview:
The question
The question “What are your salary expectations?” ranks high among the most nerve-wracking inquiries in a job interview.
Many find themselves grappling with the fear of undervaluing their worth or pricing themselves out of contention.
To alleviate this anxiety, it’s crucial to arm yourself with knowledge about the prevailing market rates for your role.
Conduct thorough research using resources like salary.com or leverage your professional network to gain insights into industry standards.
Equipped with this information, you can confidently propose a salary range that aligns with your expertise and experience.
Do your homework
Crafting a data-driven argument can bolster your negotiation stance during salary discussions.
Rather than relying solely on personal preferences or vague assurances of contentment with the offered salary, present concrete evidence supporting your value proposition.
Referencing industry benchmarks and your own market value demonstrates a proactive approach to advocating for fair compensation. Striking a balance between assertiveness and flexibility can further underscore your willingness to engage in constructive dialogue.
Ask questions
In cases where uncertainty looms over salary expectations, consider seeking clarification on the salary band for the role.
This approach not only empowers you with valuable insights into the organization’s compensation structure but also provides a framework for anchoring your negotiation strategy.
Armed with knowledge of the salary range, you can position yourself strategically, aiming for a figure that reflects your skills and contributions while remaining within the realm of reason.
Set the bar
Taking a proactive stance by aiming higher than your desired salary can be a savvy negotiation tactic.
By setting the bar slightly above your target, you create room for concessions while signaling your confidence in your worth.
Transparency regarding your salary expectations, coupled with a willingness to engage in meaningful discussions, can foster an environment conducive to negotiation. Remember, if a potential employer values your contributions, they will likely be open to exploring mutually beneficial arrangements.
Broader package
Leverage the discussion on salary expectations as an opportunity to delve into the broader benefits package offered by the organization. Instead of fixating solely on monetary compensation, inquire about additional perks such as health insurance, retirement plans, or professional development opportunities.
This holistic approach demonstrates your consideration of long-term career prospects and organizational fit, transcending the narrow confines of salary negotiations.
Navigating discussions about salary during a job interview can be daunting, but with strategic preparation and a clear understanding of your worth, you can approach these conversations with confidence and poise.
As anticipation builds ahead of the Federal Reserve’s highly anticipated March meeting, the major US stock indexes have retreated from their record highs, setting the stage for a pivotal week in the financial markets.
On Wednesday, the tension surrounding the Fed’s monetary policy decision will reach its climax.
At 2:00 p.m. ET, the US central bank is scheduled to unveil its latest policy stance and updated economic projections, with investors eagerly awaiting clarity on a crucial question: does the Fed still anticipate three interest rate cuts in 2024?
Recent data indicating persistent inflation levels, contrary to earlier expectations of a rapid decline, has led market forecasts to adjust, now projecting three rate cuts instead of six for the year.
Consequently, the focus shifts to whether the Fed will adjust its stance in response to this prolonged inflationary pressure.
The New York Stock Exchange
Earnings reports
In addition to the Fed’s meeting, this week’s calendar features notable corporate earnings reports, including those from Nike, Lululemon, FedEx, and Micron, scheduled for Thursday.
The IPO market will also witness Reddit’s public debut under the ticker symbol ‘RDDT’ on Thursday, offering insights into the resurgence of new listings in 2024.
Meanwhile, Nvidia’s annual GTC conference on Monday will draw attention as investors seek updates on the company’s product roadmap amidst surging demand for its chips driven by the AI boom.
With regards to the Fed, investors are not anticipating any changes to the benchmark interest rates, expected to remain within the range of 5.25%-5.50%, consistent since July last year.
Instead, the focus will be on the Fed’s Summary of Economic Projections (SEP) and Chairman Jerome Powell’s subsequent press conference, which will commence 30 minutes after the policy statement release.
As food inflation continues to grip the nation, more people are turning to buy now, pay later (BNPL) services to navigate the soaring costs of groceries and takeout meals.
With financial pressures mounting and budgets stretched thin, BNPL has emerged as a lifeline for consumers across various income brackets, allowing them to manage their expenses amidst economic uncertainty.
Recent research from PYMNTS Intelligence reveals that approximately 15 million consumers, constituting 6.5% of the US population, relied on BNPL installment loans to cover their grocery bills or manage weekly food expenditures last year.
Even higher-income households, earning over $100,000 annually, have embraced this payment method, albeit to a lesser extent.
Cost-cutting
The persistently high food prices have prompted households across the income spectrum to adopt cost-cutting measures. While some consumers opt for more affordable grocery stores or compromise on the quality of their purchases, others turn to BNPL to alleviate immediate financial burdens associated with food purchases.
In a bid to attract price-conscious consumers, major food chains like McDonald’s are devising strategies to offer compelling deals and affordable meal options.
However, not everyone is resorting to BNPL for their food purchases.
That 35 and younger consumers are using “buy now, pay later” for things like groceries and hardware tells us about their financial savvy — and the economy.
‘Buy now, pay later’ goes from niche to normal as young people use it for daily essentialshttps://t.co/pDommIPp8q