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Downloading Music Is Quickly Going Out Of Fashion

First records died, then cassette tapes, then CDs and now, downloads. That's right, we're all but officially in the age of streaming services. Apple might operate the largest online music store in the world, but the Apple Store's iTunes...



Market Power, 'the Profits-Investment Disconnect,' and the Mal-Distribution of Income

Maybe we'll finally start discussing something I've been writing about for years with little traction, how market power affects the distribution of income (the disconnect between income and the contribution to final product that occurs...



Sodastream International Ltd Pops On Pepsi Testing News

Shares of Sodastream International Ltd shot upward by as much as 18% after news the company is testing Pepsi productsSodastream International Ltd (NASDAQ:SODA) has had a rough year, with shares trending downward since January. Today the...



A Billionaire’s $65 Million Gift to Theoretical Physics

Charles T. Munger, a longtime business partner of Warren Buffett, is donating $65 million to the Kavli Institute for Theoretical Physics at the University of California, Santa...



UK recovery slows down as economic growth dips to 0.7% in third quarter

The Office for National Statistics data confirms that growth in July-September slowed from 0.9% in the second...



Solution to the helicopter design problem

See yesterday’s post for background. Here’s the question: In the helicopter activity, pairs of students design paper ”helicopters” and compete to create the copter that takes longest to reach the ground when dropped from a...



A Few Comments on QE

A few comments on QE:• The FOMC is expected to announce the end of QE3 on Wednesday October 29th, following the FOMC meeting next week.• Most research shows that the primary impact of QE on interest rates is from the size of the Fed balance...



Microsoft Corporation (MSFT)’s Cloud Is Finally Shaking the Loch Ness Monster Awake

 Microsoft Corporation (NASDAQ:MSFT)‘s CEO, Satya Nadella has finally helped the company grow back its long neck, resembling a Loch Ness monster. Using the long neck, the software company can now see far into the future, and help in...



Philly Fed: State Coincident Indexes increased in 43 states in September

From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for September 2014. In the past month, the indexes increased in 43 states, decreased in four, and remained stable in three, for a...



Tell Me Something I Don’t Know: A New Freakonomics Radio Podcast

A few years ago, I developed a habit. If the person sitting next to me on an airplane seemed like they wanted to have a conversation, I’d ask them a bit about themselves — let’s say they worked in civil engineering...



Economic Disasters: The Butterfly Machine, Black Swans

Economic Disasters: The Butterfly Machine by David Merkel, CFA of The Aleph Blog There’s a phenomenon called the Butterfly Effect.  One common quotation is “It has been said that something as small as the flutter of a...



The War on ISIS: More Than One Battle

In the Vietnam War, saving Khe Sanh seemed essential. Turned out it...



Where’s my flying hoverboard? (Back to the Future)

From The Daily Beast: Greg and Jill Henderson, founders of Hendo, have developed a real hoverboard. Yes, the flying skateboard that millions of moviegoers have wished were real since Back to the Future Part II premiered back in 1989 may become the...



Credit Suisse net profit beats

Credit Suisse on Thursday reported third-quarter net profit above analyst forecasts as investment banking revenue...



SEC, Othey Key Agencies Approve Credit Risk Retention Rule

The ‘skin-in-the-game’ rule requires banks to maintain at least 5% of the risk on their books when they securitize loansSix federal agencies have adopted a final rule requiring banks to keep a stake in the mortgages they package and sell. The...



Why Rising Rents Haven’t Pumped Up Inflation

Policy makers and economy-watchers now seem more worried about disinflation rather than accelerating inflation. That wasn’t the expectation at the start of the year. In January, economists surveyed by The Wall Street Journal expected...



'Helicopter Money'

Everything you ever wanted to know about helicopter money: Helicopter money, by Simon Wren-Lewis, Mainly Macro: Periodically articles appear advocating, or discussing, helicopter money. Here is a simple guide to this strange sounding concept. I go in...



JPMorgan Chase Execs Knew Of China Hiring Issues Before Probe [REPORT]

JPMorgan Chase execs knew of China hiring problems since 2011According to knowledgeable Wall Street Journal sources, a number of senior execs at JPMorgan Chase & Co. (NYSE:JPM) in New York were advised of potential problems related to the...



Men experience slightly more online harassment — but young women are hit with the most severe forms

Online harassment is pervasive, a new Pew Research study shows. Forty percent of American adults say they have personally experienced such harassment, while 73 percent have seen it happen to others. And those figures become more extreme if you look...



Americans’ Social Security Benefits to Likely Increase 1.7% in 2015

Americans who receive Social Security benefits will see a modest increase in their checks next year to cover higher consumer prices. The annual cost-of-living adjustment will likely amount to 1.7% for 2015, according to inflation data released...



What Happened in Vegas

History repeats: A new plan for mortgages with low down...



GT Advanced, Apple in Deal for 'Amicable' Split-Up

GT Advanced Technologies has signed a pact with Apple Inc. for an “amicable parting of the ways,” Luc Despins, attorney for the bankrupt supplier to the technology giant, said...



Daimler sells its stake in Tesla as its EV partner grows up

They grow up so fast, don't they? It seems like just yesterday (well, 2009) that Daimler bought a stake in Tesla to give it a boost and secure a partner for electric car development, and the German automaker is now selling that stake a mere...



Has Apple stock peaked? Experts debate

Analysts disagree over the future of Apple's...



Dan Loeb talks up Amgen

Hedge fund manager Dan Loeb recommended Amgen's stock Tuesday, causing shares to rise about 4 percent on the...



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Weekend Must Must Reading: Janet Yellen: Perspectives on Inequality and Opportunity from the Survey of Consumer Finances

Janet Yellen: Perspectives on Inequality and Opportunity from the Survey of Consumer Finances--October 17, 2014: "I think it is appropriate to ask whether this [rising inequality] trend... ...is compatible with values rooted in our nation's...



Job Growth Rebounds, but Wages Lag

The U.S. unemployment rate slipped below 6% for the first time since the recession as hiring returned to a strong pace, lifting hopes for an economy that continues to show sluggish wage growth and persistent...



UK recovery slows down as economic growth dips to 0.7% in third quarter

The Office for National Statistics data confirms that growth in July-September slowed from 0.9% in the second...



PIMCO Is Already Bleeding Billions

It's already begun. Investors are yanking cash out of PIMCO after the shock departure of Chief Investment Officer Bill Gross, who left on Friday to go to Janus. Gregory Zuckerman at WSJ reports: Pacific Investment Management Co. suffered roughly...



No new topic stories available, please visit.

No new topic stories available, please search or visit clevelandfed.org for new stories. Thank you -- Mon, 20 Oct...



Most Americans Don’t Know It, But Their Odds of Getting Laid Off Have Never Been Lower

This morning the Department of Labor reported that initial weekly jobless claims fell to 264,000. That’s the smallest number of people filing a jobless claim since April 2000. But thanks to population growth, the U.S. labor force is larger now...



Stock Market Today: Stocks Fall as IMF Cuts Global Growth Outlook

NEW YORK (TheStreet) -- It's another day in the doldrums for U.S. stocks on Tuesday as investors wait for Wednesday to provide market-moving news. Until then, traders have only scraps of economic data on which to gauge the mood of the markets. The...



You can’t even spell “capitulation”

People are starting to freak out a little. A massive amount of individual stocks have dropped more than 20 percent from their 52-week highs this fall and this is beginning to dawn on folks. The bullshittiness of the S&P 500’s...



Let Us Now Praise Placebos

Placebos are fascinating things. They shouldn't work, but they do. And it's not just pills, either. In certain cases, it turns out, fake knee surgery can relieve pain just as effectively as real knee surgery. Austin Frakt writes about the...



'Helicopter Money'

Everything you ever wanted to know about helicopter money: Helicopter money, by Simon Wren-Lewis, Mainly Macro: Periodically articles appear advocating, or discussing, helicopter money. Here is a simple guide to this strange sounding concept. I go in...



U.S. Will Be Forced To Become More Isolationist: Michael Pettis

Michael Pettis says the U.S. will be forced into protectionist policies as its global economic clout declinesEconomist Michael Pettis argues that the costs of the U.S. being the “global economic backstop” are already outweighing the...



Medical Company May Be Falling Short Of Its Patient Safety Ideals

Masimo Corporation's chief executive is a leading voice in the movement to reduce medical errors, but the Food and Drug Administration says his company isn't properly investigating complaints.» E-Mail...



Dudley: Enhancing Financial Stability by Improving Culture in the Financial Services Industry

Remarks by President Dudley at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York...



My QE Mea Culpa Will Not Make Paul Krugman Polite



Hedge Fund News: Steven Cohen, Carl Icahn & Lansdowne Partners

New Name, New Office, Similar Performance for Steven Cohen (NYTimes) The best thing federal prosecutors might have done for Steven A. Cohen, the billionaire investor, is to force him to stop managing money for outside investors and convert his once...



EU publishes details over Apple's Irish tax breaks

European antitrust officials are probing Apple's tax deals with...



Panasonic Plans Big Investment in Tesla Battery Plant

Panasonic will invest tens of billions of yen as a first installment in a Tesla battery factory, the chief executive of the Japanese company...



GT Advanced, Apple in Deal for 'Amicable' Split-Up

GT Advanced Technologies has signed a pact with Apple Inc. for an “amicable parting of the ways,” Luc Despins, attorney for the bankrupt supplier to the technology giant, said...



Quiz: Test Your News Knowledge

Take our latest News IQ quiz and see how you compare to the others who answered the questions as part of a national...



Public and Private Sector Payroll Jobs: Carter, Reagan, Bush, Clinton, Bush, Obama

By request, here is an update on an earlier post through the September employment report.Important: There are many differences between these periods. Overall employment was smaller in the '80s, so a different comparison might be to look at the...