Philadelphia Fed Names Chicago Fed’s Anna Paulson as President

Anna Paulson will be the next president of the Federal Reserve Bank of Philadelphia, replacing Patrick Harker who steps down on June 30.
Paulson, currently head of research at the Chicago Fed, will be the first woman to lead the Philadelphia Fed and will be a voting member on the central bank’s rate-setting committee next year.
Paulson will take office on July 1 and will focus on keeping inflation expectations anchored amidst a unique confluence of conditions that point towards stagflation. Catarina Saraiva, Bloomberg Federal Reserve Reporter reports. (Source: Bloomberg)

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Dow’s Divergence from S&P 500 Today Could Be Historic. Blame UnitedHealth.

The Dow and S&P 500 might do something that’s never happened before, and it’s all UnitedHealth’s fault. The Dow is down 500 points, or 1.2%, while the S&P 500 is up 0.4%; the S&P has never risen on a day that the Dow has fallen more than 1%, according to Dow Jones Market Data. The Nasdaq Composite was moving in and out of positive territory.

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SPACs Set to Capitalize on IPO Freeze With $1 Billion Deal Burst

President Donald Trump’s tariff war has hammered stocks and bonds, and shuttered the traditional IPO market. Yet even with risk appetite on hold, the area that could benefit most from the rampant volatility is among the most speculative: The SPAC market.

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