News From the Control Tower - 6/2/2022
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. Federal Reserve’s Portfolio Runoff Has Begun
Central bank is allowing securities to exit from its $8.9 trillion portfolio by not reinvesting the proceeds when they mature
2. ‘A lot of Costco love’ — How the warehouse retailer became a staple of Asian America
Costco’s dominance among Asian American consumers bodes well for the warehouse retailer’s longer-term growth trajectory — and carries implications for other retailers as the industry evolves alongside a diversifying United States.
3. How Influencers Hype Crypto, Without Disclosing Their Financial Ties
Logan Paul, Paul Pierce and other celebrities have promoted risky and obscure digital currencies, sometimes failing to mention their conflicts of interest.
4. ‘Baseball Players Don’t Dance’? The Savannah Bananas Beg to Differ.
TikTok choreography, dancing umpires, a ballet-trained first-base coach: This collegiate summer league team has amassed a following by leaning into entertainment.
5. Ford to add over 6,000 U.S. jobs as it boosts electric vehicle production and prepares for a new Mustang
Ford Motor said Thursday that it will add about 6,200 union jobs in the Midwest as it revamps three factories to build new electric and gas-powered models, including a new seventh-generation version of the Mustang coupe.
6. CEO of Deutsche Bank's asset manager steps down after 'greenwashing' raid
German officials have been investigating reports and a whistleblower's allegations that DWS had exaggerated the green credentials of investments it sold — a practice known as greenwashing. DWS has repeatedly denied that it misled investors.
Bonus: Guinness Record for dressing up like a dork in public set yesterday by huge gathering of "vampires"