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

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