Highlight of the Week
Goldman Data Acknowledges ‘Real Wage Inflation’
-Compensation costs jumped 33% at Goldman to $17.7 billion for 2021. A $4.4 billion increase in just one year.
-The average per-employee compensation at Goldman has now reached $404,000 versus $329,000 in 2020. Although this number is largely distorted based on top-producers earning multi-million-dollar packages.
Rate Curves
Rapid Report:
Fed Contemplates Rate Hike to Tame Inflation
-With inflation at four-decade highs, talk of a dramatic half-point jump in the federal-funds rate as soon as March has increased.
-The Federal Open Market Committee will meet March 15-16, and there could be room for a potential second increase during their June 14-15 conference. The last half-point funds rate increase took place in May 2000, just ahead of the bursting of the dot-come bubble.
McKinsey’s Top Executive Rolls Out Operational Changes
-Bob Sternfels, the consulting company’s new leader, is hoping to avoid scandals and rethink how the firm evaluates performance.
-Since beginning his leadership role, Sternfels has embarked on a ‘listening tour’ meeting with more than 300 Chief Executives and talking with employees worldwide. His first aim is to speed up decision-making and de-emphasize employee tenure in their employee database.
United States Continues Setting Covid-19 Daily Hospitalizations Records
-U.S. Surgeon General warned that Omicron cases have not yet peaked nationwide.
