Economics

• New jobless claims reversed the streak of declines this week, and continuing claims remained the same. (Yahoo Finance)
• The Washington Post dug deep into BLS and other data to see which industries were experiencing a labor shortage, versus the tight labor market that is more generally the experience across the board.
• (Slate) provides a more detailed and nuanced examination of the current inflation picture.
• The Federal Reserve Banks’ Open Market Committee met this week and announced no changes. The bigger story is in the details, as the outlook has changed. (BankRate)
• May retail sales fell 1.3% as Americans spend less on goods (and more on services). Certain product shortages contributed to the decline as well. (AP News) And PPI and manufacturing output both increased. (Reuters)
• It may be that shipping issues are a big reason we see shortages and high prices for many goods. (NPR)

Investing

• “If you’re trading like it’s a game, you’re probably going to lose.” Do those who invest (play) in meme stocks need to be protected from themselves? (Vox)
• The Dow may end this week down five days in a row for the first time since January. (CNBC)
• Ben Carlson (A Wealth of Common Sense) argues the bull market may hang on for a while and discusses how one might handle it.
• It is not your imagination. Home equity jumped 13% from March of 2020 to March of 2021. (Stocks were up 61% over the same period.) (WaPo)

Digital Currency

• Politico discusses the Fed’s exploration of creating a digital dollar. The article explains the benefits (and risks), the potential impact on banks, and the political steps that would have to be taken to make this happen.

Retirement

• The pandemic led many to retire earlier than they originally planned. The decision to retire is (and should be) about more than the financials. (Investment News)

Student Loans

• The Department of Education is quietly granting relief to those borrowers hurt by for-profit colleges. (AP News)

Budgeting

• 40% of Americans say that online shopping has ruined their budgets.   Learn how to avoid that problem. (Business Wire)

Philanthropy

• MacKenzie Scott continues to give sizeable donations to a wide range of organizations. ( Axios) 

Inspiration

• Read five of the college essays submitted to the NYT this year that touch on money and finances.

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.