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News From the Control Tower - 6/17/2021 Thumbnail

News From the Control Tower - 6/17/2021

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

This week’s reads include:

1. Fed holds rates steady but raises inflation expectations sharply

The central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program.

2. Jamie Dimon says JPMorgan is hoarding cash because ‘very good chance’ inflation is here to stay

JPMorgan Chase has been “effectively stockpiling” cash rather than using it to buy Treasuries or other investments because of the possibility higher inflation will force the Federal Reserve to boost interest rates, Dimon said Monday during a conference.

3. National Parks Are Overcrowded and Closing Their Gates

As pandemic-weary Americans head for the most popular parks this summer, nearby towns are getting overrun.

4. Want Your Nails Done? Let a Robot Do It.

Start-ups are using technology to take a robotic approach to manicures, offering a simple way to provide foolproof nail polish.

5. Dr. Dre, Jimmy Iovine to launch what could be ‘the coolest high school in America’

The concept is to engage students as future entrepreneurs and real-world problem-solvers, said Erica Muhl, founding dean of the USC academy, launched with a $70-million gift from the pair. At the academy, teams of students with different skills and roles tackle an issue or problem together in an “impact lab” — typically in collaboration with experts from private industry and nonprofits.

Bonus: This Is the Story of a Man Who Jumped Into Lake Michigan Every Day for Nearly a Year

He started one Saturday as the pandemic was raging. Then he just kept going, never mind Chicago’s winter.