
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
July 25, 2023: On Monday, U.S. Treasury yields were adjusted, ahead of the Federal Reserve’s conference to examine its monetary policy plans and announce its latest interest rate decision.
The yield on the 10-year Treasury was down by one basis point to 3.827%. The 2-year Treasury yield was about flat at 4.85%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
On Monday and Tuesday, Federal Reserve policymakers will meet and are expected to report another interest rate increase after their meeting.
Guidance issued alongside the rate decision and comments from Fed Chairman Jerome Powell in the post-meeting press conference will also be important for investors. They will likely provide clues about what is next for monetary policy and how the Fed views the state of the economy, including the inflation outlook.
The Fed adopted a restrictive monetary policy approach in early 2022 to ease inflation and cool the thrift. The latest consumer price index, published earlier this month, indicated that the central bank’s policy moves produce the desired effect.
But at 3%, inflation remained above the Fed’s target capacity of 2% annually. Core inflation, which policymakers tend to look at more closely, was even higher, at 4.8%.
Several vital data points are also due this week, including Friday’s personal consumption prices index, which is the Fed’s favored inflation gauge. The Commerce Department also will release its advance estimate on gross domestic product or the second quarter. Economists polled by Dow Jones hope the U.S. increased at a 1.7% annualized rate for the April-through-June period.
Elsewhere, the European Central Bank will reveal an interest rate decision on Thursday, and the Bank of Japan will complete at the end of the week.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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