Hikes Heard ‘Round the World, Unsurprisingly Horrible, and Shrinking Shrink 6/22/23

Fed Chair Powell repeating there’s a long way to go in the fight against inflation in his Senate testimony today. With the surprise half a point hike from the Bank of England just the latest hawkish move from a global central bank, could the Fed follow suit at its July meeting?

The economics are ‘horrible (but unsurprising)’ at Intel, according to one analyst. He tells us what could finally turn the company around. 

Plus, retailers from Target to Foot Locker saying shrink—or unexpected inventory loss—took a bite out of profits last quarter. But UBS expects shrink to start shrinking thanks to a few factors and names the retailers poised to benefit.