Friday's Fast Five: Week of 3.10
Watch: Powell Says Fed Is Prepared to Increase Pace of Rate Hikes (The Wall Street Journal): Federal Reserve Chair Jerome Powell on Tuesday told the Senate Banking Committee that getting inflation back to the central bank’s 2% target has “a long way to go and is likely to be bumpy.”
Silicon Valley Confronts the End of Growth. It’s a New Era for Tech Stocks. (Barron's): Silicon Valley could use a reboot. The biggest players aren’t growing, and more than a few are seeing sharp revenue declines. The reason for this sudden preference for profitability and efficiency over growth is fairly obvious—there isn’t much growth. We might not be in a recession, but earnings reports from enterprise computing companies this past week made it clear that their customers want to do more with less.
The Daring Ruse That Exposed China’s Campaign to Steal American Secrets (The New York Times): How the downfall of one intelligence agent revealed the astonishing depth of Chinese industrial espionage.
Russell Wilson’s first year with Broncos: ‘Too much influence,’ too few wins in disorganized disaster(The Athletic): Wilson and his former coach Pete Carroll's postgame embrace after a 17-16 Seahawks win was quick and awkward. The reason was unknown to the millions of fans who made the game the most-watched Monday Night Football season-opener in more than a decade. Seven months earlier, in February 2022, Wilson punctuated his growing frustration with Carroll and general manager John Schneider by making the most fateful power play in the history of the franchise.
Fake Meat Was Supposed to Save the World. It Became Just Another Fad (Bloomberg): Beyond Meat and Impossible Foods wanted to upend the world’s $1 trillion meat industry. But plant-based meat is turning out to be a flop.