Will Daniel
Fortune
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Past articles by Will:
FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price
Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure. → Read More
A top tech analyst just warned that Fed Chair Jerome Powell’s comments this week could spark a selloff
“I’m a big believer in tech, but I think the first half of the year is going to be a difficult era,” Deepwater Asset Management's Munster warned Monday. → Read More
‘Inflation is a monster that we need to knock on the head’: The chief of the European Central Bank says it must do more to bring down prices
“We will do whatever is needed to return inflation to 2%,” ECB President Christine Lagarde told Spanish newspaper El Correo in a Sunday interview, referencing the central bank’s inflation target. → Read More
Tesla stock dropped 65% last year but retail investors are flocking to the company in 2023 and lapping up $14 billion in shares
Individual investors are buying Tesla stock at a record pace and driving the price higher, Vanda Research says. → Read More
No, Elon Musk can’t put chips into people’s brains: Regulators rejected Neuralink’s device due to safety risks, report says
Neuralink’s human brain chip trials have been put on hold after the FDA rejected the startup’s application due to safety issues, Reuters reported Thursday. → Read More
‘Woke’ vs. ‘based’: The A.I. universe could be ‘fragmented’ into political echo chambers if designers don’t take ‘meaningful steps’ now, ADL says
A politically "fragmented A.I. universe"would be "bad for all users," Jonathan Greenblatt, CEO and national director of the Anti-Defamation League, said Wednesday. → Read More
America’s economy is splitting consumers into two very different realities
Gregory Daco, chief economist at EY Parthenon, expects to see a “K-shaped consumer spending pattern” in 2023, where working class families slow their spending, while wealthy families continue to splurge. → Read More
Top Wall Street strategist David Rosenberg crushes rosy economic predictions and says ‘no landing’ talk is Wall Street’s ‘biggest hoax’ in years
Even if inflation fades, with the interest rates staying higher for longer, the founder and president of Rosenberg Research fears a recession is on the way. → Read More
We’re in danger of falling into 1970s-style inflation without aggressive interest rate hikes, according to a top Fed official
“If inflation doesn’t start to come down, you risk this replay of the 1970s... Let’s be sharp now, let’s get inflation under control,” St. Louis Fed President James Bullard told CNBC Wednesday. → Read More
Back to broke: Americans are racking up debt and burning through their savings—economists warn it could spark a recession
Nearly 65% of Americans are living paycheck to paycheck as they spend down savings and lean on credit cards to make ends meet. → Read More
Disney employees are furious over Bob Iger’s return-to-office mandate and more than 2,000 have signed a petition to fight back
"Flexibility at Disney really felt like a fresh start," an unnamed employee told the Washington Post. "Now it feels like we're moving backwards." → Read More
The job market is incredibly hot, but a new report from LinkedIn shows it could be headed for a slowdown
“Companies have started to tighten their belts and take a more judicious approach to recruiting,” says Rand Ghayad, head of economics at LinkedIn. → Read More
‘AI is a serious contender’: Morgan Stanley says ‘something suggests’ the ChatGPT mania isn’t another investment fad
Morgan Stanley says investors’ latest obsession is here to stay. “The AI hype is worth considering seriously.” → Read More
Larry Summers says the economy could be headed towards a ‘Wile E. Coyote moment’
The Harvard economist warns the economy could walk "off a ledge" sometime this year. “I’m not predicting with confidence that that will happen, but I think the risks are significantly elevated.” → Read More
Middle managers embrace wokeness because it increases their influence and job security, new paper says
“Woke” culture could be costing companies, the authors say. → Read More
‘Big Short’ investor Michael Burry compares stock market to dotcom bubble in a cryptic tweet
“This time is different,” Burry tweeted Tuesday, including a chart that showed the roughly 40% stock market drop—and multiple bear market rallies—that occurred during the dotcom bubble. → Read More
Middle managers are so burned out that nearly half want to quit within the next year
“The chronic anxiety that comes from working through one global crisis after another is wearing on employees,” Dr. Jarik Conrad, executive director of The Workforce Institute at UKG, said. → Read More
CEOs say they’re afraid of a recession but nearly 70% plan to hire more people this year anyway
While most CEOs are preparing for a recession, they're also hoarding talent. "Employees may be able to breathe a sigh of relief," says Dana Peterson, The Conference Board's chief economist. → Read More
Warren Buffett’s right-hand man Charlie Munger, who once called crypto ‘rat poison,’ says we should follow China’s lead and ban cryptocurrencies altogether
“A cryptocurrency is not a currency, not a commodity, and not a security,” Munger said Wednesday in a WSJ op-ed. “It’s a gambling contract." → Read More
Morgan Stanley's chief strategist thinks investors are in for a bumpy ride after they realize there's no more Fed rate cut 'heroin'
“Once people realize the Fed’s not cutting rates—there’s no more heroin, so to speak—then we’re going to price the fundamentals, which are clearly deteriorating in our view,” Wilson told CNBC Tuesday. → Read More