About a year ago, I wrote this article about why the Fed was raising rates in trying to engineer a soft landing. The objective was to prevent an overheated economy and high inflation rates, given the record unemployment levels among other things. The theory goes that tight labor markets lead to wage growth. Wage growth leads to high inflation. Raising rates might prevent that. This was the sentiment at the Fed over a year ago.
Graphic Designed by Katharina Giebel BRB Bottomline: Changes in technology and business models have created the opportunity for millions of people to participate in what is now deemed the gig economy. Companies such as Uber, Lyft, DoorDash, and Rover are leading the forefront of this new economy by empowering workers