What’s buzzing on social media this morning:
(Bloomberg) — What’s buzzing on social media this morning:
BUZZING HEADLINES:
Within hours of the devastating explosion on Russia’s bridge to Crimea, Ukraine’s postal service issued a commemorative stamp echoing the destruction of the Titanic, complete with the likenesses of Kate Winslet and Leonardo DiCaprio defying the edge of the smoldering Kerch Strait Bridge.
President Vladimir Putin’s flagship bridge to Crimea was severely damaged in a blast that hit a fuel train and caused the partial collapse of the only road link running from the Russian mainland to the Black Sea peninsula that Moscow annexed in 2014.
A steady stream of data this week suggested that the Federal Reserve’s interest rate hikes are starting to bite in the real economy, including indications trade and manufacturing are slowing.
Equity investors are nervous ahead of earnings season, which will kick up with big banks next week. Fed officials and Friday’s jobs report hammered home the message that the US central bank would hike rates until they are restrictive and then hold them there, even if it means recession.
California residents have begun receiving stimulus checks to help them deal with decades-high inflation.
The checks, which range between $200 and $1,050 dollars, are part of a relief package announced in June that will give $9.5 billion of tax rebates to millions of residents. States including Colorado, Maine, Indiana and Delaware have announced similar measures to help people cope with high prices, particularly for necessities like gas and food.
Some economists say the stimulus measures will fuel spending, making it harder for the Federal Reserve to tame price surges.
BUZZING TWEETS
Jon Stewart has a new show, and the first episode featured an interview with Arkansas Attorney General Leslie Rutledge about why her state banned gender-affirming care for minors.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
