Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.
The late 1930s ushered in a time when the US seemed to be back on stable footing.
The New Deal helped spur growth and drop unemployment from startling highs.
Unfortunately, private investment was struggling and inflation remained on the low side. Psychologically scarred by the economic drop-off, people decided to pay down debt in their ledgers rather than go out and spend. Encouraged by the seemingly strong economy, the government began to back off the fiscal stimulus and tighten financial policy.
In Wall Street news, Steve Cohen has banned hiring from under-fire hedge fund Visium, the hedge fund unit at UBS has gone on a hiring spree, and Goldman Sachs figured out how to learn what Wall Street stock analysts really mean.
Hillary Clinton is considering Sen. Elizabeth Warren for her running mate for the Democratic presidential ticket.
Business Insider sat down with Fan Bao, the rock-star dealmaker bringing China’s hottest startups to the US. He talked about deals, bubbles, and spotting the next great entrepreneur.
The Federal Reserve on Wednesday kept monetary policy on hold, as expected. Here’s what you need to know:
- The Fed just gave the signal to short stocks.
- The Fed slashed its growth outlook.
- One Fed official thinks the Fed should raise rates one more time in 2016, hold rates steady until 2018, and then ¯\_(ツ)_/¯.
We’ve also published a series of articles from our “The Price of Profits” project with Marketplace radio. You can see all of our ongoing work on this topic here. Here are the headlines:
- Sears’ obsession with Wall Street is killing the retailer for good.
- Americans think companies are getting things wrong.
- A legendary CEO did something unimaginable by today’s standards, and it tells you everything about how America has changed.
- US companies have spent $2 trillion doing something that has absolutely no impact on their business.
- The activist playbook is nearly 90 years old — and the first chapter was written by Warren Buffett’s mentor.
Finally, this chart breaks down the crazy amount of oil production disruptions in 2016.
Here’s the best of the rest in Wall Street headlines:
We’re headed for 1938 all over again — Coming out of the depth of the Great Depression, the late 1930s ushered in a time when the US seemed to be back on stable footing.
Spotify just hired a Wall Street exec and it’s the biggest hint yet that an IPO is coming — Spotify’s latest hire is a big hint that an IPO may be in the music streaming company’s future.
Goldman Sachs was like a ‘swarm’ on Libyan wealth fund client, court told — Goldman Sachs acted “like a swarm” on a Libyan sovereign wealth fund client, a witness in a dispute between the bank and the Libyan Investment Authority told a London court on Thursday.
Millennials are too impatient when it comes to making money — Investors, and especially young investors, have unrealistic expectations about their money.
There’s a ‘black hole’ in the market — Are you worried about the bond market? Maybe you should be.
The biggest factor in Americans’ cost of living is rising faster than it has in nearly a decade — Shelter costs are still the key driver of inflation.
Africa’s largest oil producer might be facing a new threat — There could be trouble ahead in Angola.
The job market’s stumble can be blamed on one thing — The May jobs report, in a word, stunk.
This Boeing private jet is a flying luxury home — Imagine if you owned a 2,400-square-foot luxury home with the ability to fly you and 39 of your closest friends to anywhere you want in less than 17 hours.