📊 Hot Economy, Rising Inflation

Today’s pick

Hot Economy, Rising Inflation: The Fed Has Never Successfully Fixed a Problem Like This. The Federal Reserve is setting out to do something it has never accomplished before: reduce inflation a lot without significantly raising unemployment. Central bank officials think it is possible with calibrated interest rate increases that slow… (Jon Hilsenrath / Wall Street Journal)

Nick Timiraos @NickTimiraos

The Fed is trying to do something it has never managed: slow the economy but avoid recession when the unemployment rate is this low and inflation is this high To succeed in any soft-ish landing, it will need a lot of things to break its way (read: luck) wsj.com/articles/infla…

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Web scraping is legal, US appeals court reaffirms. Good news for archivists, academics, researchers and journalists: scraping publicly accessible data is legal, according to a U.S. appeals court ruling. The landmark ruling by the U.S. Ninth Circuit of Appeals ends a long-running legal battle… (Zack Whittaker / TechCrunch)

TechCrunch @TechCrunch

New: A U.S. appeals court has ruled that scraping publicly accessible data is not a violation of U.S. hacking laws.

tcrn.chWeb scraping is legal, US appeals court reaffirms – TechCrunchThe landmark web scraping case was bounced back to the Ninth Circuit by the U.S. Supreme Court.

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Apollo is said to be considering participating in a bid for Twitter. Investors have been skeptical that Elon Musk would be able to cobble together the funds needed to buy Twitter. (Lauren Hirsch / The New York Times)

Lauren Hirsch @LaurenSHirsch

I've confirmed WSJ reporting that Apollo is considering participating in a bid for Twitter by offering debt financing to potential buyers, including Elon Musk. (Nothing decided yet though)

nytimes.comApollo is said to be considering participating in a bid for Twitter.Investors have been skeptical that Elon Musk would be able to cobble together the funds needed to buy Twitter.

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Beanstalk cryptocurrency project robbed after hacker votes to send themself $182 million. On Sunday, an attacker managed to drain around $182 million of cryptocurrency from Beanstalk Farms, a decentralized finance (DeFi) project aimed at balancing the supply and demand of different cryptocurrency assets. Notably, the attack exploited… (Corin Faife / The Verge)

Barry Dorrans @blowdart

Robbed? No. It did exactly what it was coded to do. It's not a robbery, it was a hostile takeover.

theverge.comBeanstalk cryptocurrency project robbed after hacker votes to send themself $182 million“We are fucked,” the founders posted in Discord.

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Crypto Is Poised to Reshape Taxes-and Cities. Taxes, CityCoins founder Patrick Stanley says, can stop being a mind-numbing civic ritual and become an exercise in freedom—if we tokenize and calibrate them the right way. Stanley's crypto-based invention is what he calls “an opt-in… (Adam Willems / WIRED)

Adam Willems @functionaladam

My first for @WIRED (🥳)! I wrote about crypto-based "opt-in" city taxes, which turn taxes into another investment vehicle, consolidate the power of property, and tokenize the state's failure to protect a broad swathe of political and economic rights. wired.com/story/crypto-r…

wired.comCrypto Is Poised to Reshape Taxes—and CitiesTokens like CityCoins could turn taxes into another investment vehicle, for better or worse.

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— Jose Montes de Oca

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