Weekend reads: The Federal Reserve’s Powell lowers the boom, predicting ‘pain’ across the U.S.

In his speech at the Jackson Hole economic symposium on Friday, Federal Reserve Chairman Jerome Powell made it clear that the central bank’s moves to control inflation would bring “some pain to households and businesses.”

He pushed back against the notion that reports of moderating inflation in July might lead to slower interest-rate increases, saying he still saw “strong underlying momentum” in the U.S. economy.

Gregg Robb analyzes Powell’s remarks.

Rex Nutting points out that high inflation has helped to boost corporate profit margins to very high levels.

For investors, here’s a group of stocks that can protect you as the Federal Reserve slows the economy.

The housing slowdown gathers pace


MarketWatch photo illustration/iStockphoto

Brokers and real estate agents are saying the U.S. has entered a housing recession. Here’s what that might meant if you are buying or selling a home.

And here’s how this dip in housing differs from the 2008 crisis.

Read on: This nonprofit wants to buy homes before investors — then sell to lower-income buyers

A different take on ‘quiet quitting’


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This week there have been reports of backlashes against “quiet quitting,” but the problem may be that this isn’t the best term for what may be a reasonable attempt to reduce stress while continuing to do excellent work. Quentin Fotrell offers his own take on quiet quitting.

More from MarketWatch’s Help my Career column: White-collar graduates are vulnerable to recession — and need to get smart when applying for jobs. Here’s exactly how to do that.

Stock picks for a ‘new bull phase’

An Amazon fulfillment center in Hemel Hempstead, England.


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The S&P 500
SPX,
-2.77%

is down 12% this year, but it has risen 11% from its 2022 closing low on June 22. Michael Brush thinks we are in a new bull market and names five stocks to buy, including Amazon.com
AMZN,
-4.28%
.

More picks: These three safe stocks yield more than 10-year Treasury notes

If you are still bearish: This investment strategy acts on 18 trends to cut your risk when the stock market is volatile

Signs of tech softening

Nvidia issued lower sales guidance than analysts had expected.


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This week, Nvidia
NVDA,
-7.84%
,
Dell
DELL,
-12.09%

and Marvell Technology
MRVL,
-7.64%

were cautious in their revenue forecasts:

Financial penalties for older couples

Brett Arends outlines two ways married couples are punished financially — and this is not only about taxes.

In Retirement Weekly, Mark Hulbert looks ahead to the 2023 cost of living increase for Social Security.

Biden to cancel student debt — here are the details

President Biden announces student loan relief at the White House on Wednesday.


Olivier Douliery/Agence France-Presse/Getty Images

President Joe Biden announced this week that the Department of Education would cancel $10,000 in debt for student loan borrowers earning up to $125,000 a year and erase another $10,000 for borrowers who had received Pell grants.

Weston Blasi looks further into Pell grants.

Steve Goldstein explains the expected economic effects of Biden’s plan to forgive student loans.

Charles Passy interviews a Harvard Law professor who explains why his former students need debt relief.

Ford, layoffs and the painful EV transition

A Ford F-150 Lightning pickup truck.


Bill Pugliano/Getty Images

Ford
F,
-2.61%

said it would cut 3,000 jobs as part of its transition to electric vehicles. Alex Salkever takes a deeper look into the ripple effects of the EV transition, which will affect millions of workers.

Life lessons from a ‘rascal’

Greg Steinmetz is the author of “American Rascal: How Jay Gould Built Wall Street’s Biggest Fortune,” which will be released on Tuesday. In the BookWatch column, he shares 10 life lessons from the biggest robber of the Robber Barons.

Hear from Ray Dalio at MarketWatch’s Best New Ideas in Money Festival on Sept. 21 and Sept. 22 in New York. The hedge-fund pioneer has strong views on where the economy is headed.

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