Inflation Is Here ❄️

We’ve all heard by now that inflation is here. CPI, the main measure of US inflation, is up 5.4% YoY. As of last month, it was still rising.

On the bright side, most of that inflation can be blamed on COVID, and it should end with COVID. Investors seem satisfied with that. However, companies are still sounding the alarm. 🚨

In the last few months, several companies raised prices, including Chipotle— Chipotle increased prices by about 4%. 🙁 🌯 That decision paid off in earnings earlier this week, where $CMG reported earnings surpassing pre-COVID levels.

Appliance maker Whirlpool, Slim Jim-owner Conagra, PepsiCo, and product giant Procter & Gamble are a few of many brands raising prices.

Unfortunately, price increases are likely to stay even when inflation decreases. Maybe that’s good for investors, but it’s bad for everyone else. Keep an eye on companies raising prices on goods. 🕵️‍♂️

The Olympic opening ceremony happened, and it was… well, somewhat uneventful. 

Due to pandemic precautions, fewer than 1,000 spectators viewed the opening ceremony from inside Tokyo’s National Stadium. While 10,000 athletes paraded through Rio’s 2016 opening ceremony, fewer than 5,700 athletes walked in Tokyo. 

On the bright side, Japan selected tennis star Naomi Osaka to light the opening ceremony cauldron. 🔥 🙌

US Shooting Chief Executive Matt Suggs shared: 

“Normally, the thrill is seeing all the people in the stadium when you enter and waving to friends and family.”

Andrey Kryukov, secretary-general of Kazakhstan’s Olympic committee, commented on past ceremonies: 

“Usually it’s more powerful. We are happy that the Olympic Games are still happening. This is the most important thing.” 

Hey, half-Olympics is better than no Olympics! 😁 Here are some streaming options and an event calendar for 2021’s Tokyo Games. 📺 

A poll from University of Chicago’s NORC research group says 13% of the US population traded crypto in the last year. By contrast, 24% of Americans invested in stocks over the same period. 

Crypto investors tend to be younger and more diverse. The average crypto investor is 38, compared to equities investors’ average age of 47. 🥳

Take the poll with a grain of salt. Only 1,004 adults were included in the poll, but it still offers valid insight.  

People who haven’t bought crypto say they don’t understand it enough. It is kind of complicated … and not in the same way stocks are complicated. 

People also cited skepticism about security (35%), lack of excess cash to invest (33%), and not knowing where to buy crypto (31%).

Crypto is undoubtedly on the rise, but America hasn’t fallen quite yet. 

A national eviction ban expires next week, allowing landlords to evict delinquent renters. 

According to one analyst, as many as 14% of renters are behind on housing payments. That figure could reach over 10M.

During the pandemic, the eviction ban reduced eviction filings by over 50%. But next week, millions of renters could lose their homes. 

Now, the government is distributing $45B in rental assistance… but emergency funds probably won’t make it in time. Evicted tenants will pull on credit, take out loans, or even become homeless. 

Rent fell during the pandemic as landlords searched for tenants to pad their losses. Now that the pandemic is subsiding, rent’s rising again. That’s a turn for the worse for the many millions who are behind on rent. 

Are you passionate (and knowledgeable) about crypto and the blockchain ecosystem?? There might be a job waiting for you at Amazon. 

The tech giant is hiring a blockchain expert to develop its digital currency product roadmap.

Amazon wants a candidate to pitch innovative ideas within the firm’s payments and financial systems. The winning candidate gets the opportunity to work with Amazon’s Payment Acceptance & Experience Team in Seattle. 🙌

The e-commerce giant is undoubtedly upgrading its payment system to join the crypto age. Looks like Amazon’s not the only company catching on to crypto, either. 

Sounds like fun? Time to brush up that resume. 👨‍💻