The S&P 500 has experienced the worst half-year since 1970, dropping 20%. Inflation is persisting, but doesn’t appear to be accelerating. Consumer confidence is sinking. So where is the good news? It’s a long holiday weekend!

Economics

• The Fed’s preferred inflation measure, the PCE, came in at the same year-over-year rate in May as in April (6.3%), and consumer expenditure growth slowed and personal savings rose slightly. (Axios)
• Sam Ro reviews recent economic data and assesses the likelihood of a recession. This is a really good review of a variety of measures and logical analysis. (TKer)
• Bill McBride, in this post on his blog Calculated Risk, gives us his assessment of the likelihood of a recession. (He does not appear to be particularly concerned at this point.)
• The consumer confidence index dropped in June. (Reuters)
• Cleveland Fed President, Loretta Mester, a voting member of the FOMC, indicates she supports another 75 basis point increase next month if data continue as they stand today. (CNBC)

Investing

• The S&P 500 has experienced the worst first half-year since 1970. (Real Money)
• (CNN) gives us reason to be hopeful. (Bloomberg) looks at historical first half declines for an indication of what we might expect in the second half of this year.
• Morningstar examines today’s trends in what has been termed “lifestyle” investing, as celebrities hawk crypto investments and Robinhood aims to add an entertainment factor to investing.
• Jeff Sommer of the NYT writes an article aimed at people new to investing, explaining why there is opportunity in getting started during a bear market.
• Barry Ritholtz reflects on how different trading on Robinhood is from anything encountered in his trading experience.

Crypto

• Let the fire sales begin! First up, FTX buys crypto lender Blockfi for $25 million. (CNBC)

Debt

• 100 million people in the US are dealing with Medical debt. (NPR)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.