Friday's Fast Five: Week of 10.14
Animation: Visualizing U.S. Interest Rates Since 2020 (Visual Capitalist): The central bank is grappling with a very different economic situation than it was amid an unraveling COVID-19 pandemic that brought interest rates to historic low. This situation includes high inflation, low unemployment, and increasing wage growth. Given these conditions, it raised interest rates to 2.25% up from 0% in just five months.
In California, Where Trees Are King, One Hardy Pine Has Survived for 4,800 Years (The New York Times): In a harsh alpine desert, the Great Basin bristlecone pines abide amid climate change. Among them is the oldest tree on Earth (if you can find it).
Rivian shares slumped after the company announced a big recall (CNBC): Shares of Rivian Automotive fell sharply on Monday after the electric vehicle maker said late Friday that it is recalling more than 12,000 vehicles – nearly every EV it has made to date – to double-check that a fastener in the vehicles’ steering assembly was properly tightened.
Tesla Won’t Stop Falling Until Musk Stops Selling. Here’s Where the Stock Is Headed. (Barron's): Tesla stock had a terrible week, and it’s likely to get worse before it gets better. There are a few reasons for that. One is technical, the other is CEO Elon Musk.
Millions in Cryptocurrency Vanished as Agents Watched Helplessly (Bloomberg): Feds locked up a storage device full of ill-gotten tokens. Then someone started stealing the loot.