Your Weekend Reading: When Wall Street Can’t Handle Inflation
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Hero or zero? Getting inflation right is a make-or-break moment on Wall Street, so what do you do when the old assumptions stop making sense? Bloomberg chatted with executives at our New Economy Forum in Singapore this week, including Goldman Sachs CEO David Solomon, who warned that greed is outpacing fear. Accelerating inflation may be the cost the U.S. bears for heading off a Covid-19 depression. But department-store earnings showed fresh strength as Americans appear poised to open their wallets this crucial holiday season, and flaring inflation may give white-collar workers an edge in year-end salary discussions.
The Ivy League’s soaring endowments are raising some uncomfortable questions. The elite universities are amassing vast wealth with astonishing speed. To what extent should rich institutions like Harvard, with sticker prices approaching $80,000 a year, share their growing wealth with students? And should they pay more in taxes?