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‘Soft landing in the bag’: Wall Street rallies as Fed signals rate cuts on December 14, 2023 at 6:30 pm Business News | The Hill

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Financial markets rallied Thursday as Wall Street grows increasingly confident the economy has achieved a “soft landing” from high inflation without a recession.

The stock market stretched a record-breaking rally into a second day after the Federal Reserve signaled Wednesday that it could begin cutting interest rates next year.

“The Fed believes they have the soft landing in the bag. Clearly, markets believe them now,” Callie Cox, a U.S. investment analyst at eToro, said in a statement. 

The Dow Jones Industrial Average was up 92 points — roughly 0.3 percent — just before 1:30 p.m. Thursday after hitting an all-time high Wednesday, surpassing 37,000 for the first time.

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Dow hits all-time high, closing above 37,000 for first time

The rally began after the Fed announced it would hold rates steady for a third consecutive meeting and suggested it was likely nearing an end to its rate hikes.

The Dow surged 1.4 percent on the news, adding more than 500 points before markets closed Wednesday, while the S&P 500 jumped 1.37 percent and the Nasdaq Composite rose 1.38 percent. All three major indices remained up on Thursday morning.

The celebratory mood on Wall Street reflects a remarkable shift from last year, when most economists were offering dismal projections and largely dismissing the Biden administration’s hopes of a soft landing. 

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Annual inflation has eased significantly since last summer, when it reached a 40-year high of 9.1 percent. As of November, consumers prices were up 3.1 percent annually, still above the Fed’s 2-percent target but showing a marked improvement over last year.

While the central bank’s aggressive rate hike campaign appears to have helped cool inflation, it has not translated into higher unemployment rates, defying standard economic assumptions. The jobless rate has remained below 4 percent, with the November jobs report showing the rate edged down to 3.7 percent. 

The economy has also continued to grow despite widespread predictions of a recession last year, with U.S. gross domestic product (GDP) exceeding 2 percent for the last five quarters.

In the face of the latest positive economic data, Fed Chair Jerome Powell said the central bank is “likely at or near the peak rate for this cycle,” and all but three Fed officials indicated in economic projections released Wednesday that they expect at least two rate cuts next year and a plurality expect three cuts.

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“Fed members now see a few rate cuts in 2024, and these seem to be celebratory rate cuts too,” Cox said. “The latest economic projections tell you as much.” 

“The Fed lowered their inflation estimates, yet they didn’t change their job market expectations,” she continued. “They expect inflation to come down without a serious spike in unemployment. That’s the definition of a soft landing.”

The Fed adjusted its inflation forecast downward in Wednesday’s economic projections, predicting that annual inflation would fall to 2.4 percent in 2024 and 2.1 percent in 2025, while leaving its unemployment projections largely unchanged.

Nancy Vanden Houten, lead U.S. economist at Oxford Economics, noted that the central bank’s recent communication about its likely course of action on rate hikes “has become decidedly less hawkish.”

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“The Fed isn’t taking additional rate hikes completely off the table, but its latest set of economic projections and Fed Chair Powell’s post-meeting press conference suggest the next policy move will be a rate cut,” Vanden Houten said in a research note.


‘Too early for victory laps’: Fed inflation fight looms over Biden

While Oxford Economics initially anticipated that the first rate cut would occur in the third quarter of 2024, Vanden Houten said the Fed’s economic projections and Powell’s remarks on Wednesday “are sending a message that rate cuts are likely to come sooner than we currently assume.” 

However, she added, “We still think the Fed will be patient before lowering rates and is unlikely to move before the middle of the year.”

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Cox similarly warned that rates could remain high for a while longer, emphasizing that “nobody has a crystal ball.” 

Powell also offered a word of caution on Wednesday, warning that it’s too soon to know if inflation is on track to return to pre-pandemic levels and refusing to rule out future rate hikes.

“We’ve reached a possible inflection point,” Elizabeth Renter, a data analyst at NerdWallet, said in a statement. “The ideal scenario: the economic stars (along with monetary policy) have aligned to produce the soft landing where inflation comes down to 2 percent without a precipitous ascent in unemployment.” 

“But we can’t be certain of this yet,” Renter added. “Like so much in the economy, we won’t know how this ends until after it ends.”

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Whether the Fed succeeds could have a signficant impact on the 2024 election and President Biden’s bid to secure another presidential term.

Despite the sharp drop in inflation and strong economic data, Americans have grown increasingly frustrated with the state of the economy after years of paying inflated prices.

​Business, Economy Financial markets rallied Thursday as Wall Street grows increasingly confident the economy has achieved a “soft landing” from high inflation without a recession. The stock market stretched a record-breaking rally into a second day after the Federal Reserve signaled Wednesday that it could begin cutting interest rates next year. “The Fed believes they have the…  

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Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

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America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work

For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.​

Tech’s Iron Grip: ATS and AI Gatekeepers

Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.

AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.

The Experience Trap: Entry-Level Jobs Require Years

It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.

One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.

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Burnout Before Day One

The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.

Cultural Collapse: From Relationships to Algorithms

What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.

AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.

The Ghost Job Phenomenon

Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.

Not Lazy—Just Locked Out

Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

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What’s Next? Back to Human Connection

Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.

Key Facts:

  • 25% of Harvard MBAs unemployed, highest on record
  • Only 30% of 2025 grads nationwide have jobs in their field
  • Nearly half of grads feel unprepared for real work
  • Up to 50% of entry-level listings are “ghost jobs”
  • AI and ATS have replaced human judgment at most companies

If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.

This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.

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Why 9 Million Americans Have Left

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The Growing American Exodus

Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets

Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.

Health Care Concerns Drive Migration

America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad

Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.

Tax Burdens and Bureaucracy

US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.

The Digital Nomad Revolution

Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream

The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.

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Will Theaters Crush Streaming in Hollywood’s Next Act?

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Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back

Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.

Industry Pulse: From Crisis to Renaissance

On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.

Blockbusters Lead the Culture

Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.

Streaming’s Limits and Studio Strategy

Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams

As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.

For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.

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