Fed Chair Powell and recession rumblings and efforts to reduce the pain of higher gasoline prices made economic headlines this week, but not all is gloom and doom.  The stock market indexes look like they will end higher this week and average gas prices have dropped back below $5.  Read all this and more with this week's reading list.

Economics

• Jerome Powell faced both houses of Congress this week.
  • Read submitted testimony here: (gov)
  • Watch testimony here: (CNBC)
  • Read summary and market response: (Yahoo Finance)
  • Read why a soft landing may still be possible: (Yahoo Finance) (Softening demand is a good thing if we want to relieve pressure on prices and is not equivalent to recession.)

• President Biden asked Congress to approve a three-month hiatus of the Federal gasoline tax. (Reuters) Many believe it won’t have much positive benefit, but perhaps this is the to totally reform the federal gas tax policy. (Forbes)
• Have gas prices peaked? This past week has seen the average price of gas drop below $5 for the first time in weeks. (NPR)
• According to JD Power, average new car prices set a record at $45,844. (Yahoo Finance)
• Read personal stories about people who were riding high on the pandemic stimulus measures and are now preparing for the fall on the other side. (WAPO )
•  There is much gloom and doom out there about a possible recession, but here is an upbeat piece about what just might go right. (Validea)

Investing

• The Russell indexes are going through their annual rebalancing today, and this may wreak some havoc in the already volatile market. (Reuters)
• The stock market appears to be ending up this week following three down weeks. (Yahoo Finance)

Crypto

• Here is another article highlighting how scammers are having a field day with crypto. (Grid)

Behavioral Finance

• This is an entertaining one if you don’t object to reading the term abbreviated to BS repeatedly. (Evidence Investor)

Student Loans

• About 200,000 student loan borrowers who brought a class actions suit will receive full debt relief ($6 Billion) from the Department of Education. (CNBC) (NYT)

Career

• Power may shift in the work-from-home debate between employers wanting folks back in the office and employees who want to work from home if recession occurs and employment starts to decline. (Atlantic)

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.