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The trio of dissenters at the Federal Reserve who backed an increase in interest rates this week contend high inflation could get entrenched in the economy unless the central bank acts decisively to get prices under control.
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The main inflation barometer used by the Federal Reserve to set U.S. interest rates fell in June for the first time since the pandemic, underscoring why the Fed took no action this week to raise borrowing costs.
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The 30-year fixed-rate mortgage reached 6.66% on average Thursday.
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Topic: FuturismInventionsPeople love and hate Daylight Savings Time. Or more to the point, they hate the transition to and from it, particularly the spring one where you get 1 hour less sleep. It's even been tracked that traffic accidents go up after this shift.
There's a virtue to DST, though. We've become a night culture, and many of us get up well after sunrise and stay up well into dark, wasting hours of daylight every day. DST reduces that, though if you start the day too soon, you are rising and commuting in darkness. In the "energy crisis" they made year-round DST and many complained their kids were going to school in the dark. Of course, you can just resolve to get up earlier, or later, as you like, and control your own day, but many people must work on dictated schedules, and everybody wants to be in sync with those around them.
In the era before clocks, people tended to wake around sunrise each day. Indeed, the dawn twilight is what woke them up. Then they stayed up for 16 hours. In summer, it was 16 hours of day. In winter, they would get what daylight there was, then stay up into the night. Each day, they got up with the sun, arising at a different time, a few minutes earlier than before from December to June, a few minutes later the other half of the year. This is the natural clock that we evolved to, and is probably best for us.
Japan
Before contact with the west, Japan used a very different system. The day was divided into 12 "hours" or
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Ballast Rock Asset Management has appointed Michael Welch as head of investor relations and capital formation, creating a new senior role as the alternative investment manager looks to expand fundraising across its real estate, private credit, venture capital and private equity strategies.
The post Ballast Rock hires PPM America's Michael Welch to lead investor relations and capital formation appeared first on AltAssets Private Equity News.
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