Weekly Report – November 3, 2021

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Highlight of the Week

Braves Win Their First World Series Since 1995

-The Braves had a 3-run HR from Jorge Soler and an additional 2-run blast from Dansby Swanson. They emerged up 7-0 in Game 6 to closeout the series.

-Atlanta’s starting pitcher Max Fried was outstanding, dealing six scoreless innings. Jorge Soler earned World Series MVP honors as his game 6 HR was his 3rd of the series and second GW HR.

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Banks Tell Customers They are Responsible for Paying Scammers

-There has been an uptick in the number of scammers posing as bank agents asking for Zelle transfers. Banks have told customers they are responsible for Zelle transactions even if they are scammed.

-Customers should own responsibility for sending out money from their accounts, but this issue does apply pressure for banks to increase diligence and fraud filters to help stop the crime and protect their customers in the digital banking age.

Fed Prepares to Taper

-The Federal Reserve is likely to announce Wednesday that it will begin steadily reducing its bond-buying program, a step in reversing the pandemic-era stimulus.

-The Fed has telegraphed that it will reduce its asset buying by $15 billion a month. That would end the expansion of the Fed’s $8.6 billion asset portfolio by June.

Diverse Candidates Win Election Night

-Boston, NY, and Pittsburgh were among major cities where voters embraced minority candidates Tuesday. Notably, a woman of Taiwanese descent, Michelle Wu, broke Boston’s 199-year streak of white, male city leaders.

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