Good morning. US stock markets are closed for the Easter Holiday. 

"If the price is right, we're going to sell. I think that's true of everything you have, except maybe your kids and possibly your wife"

Carl Icahn

Top News

Fed's Bullard: Stick to the plan

WHAT: St. Louis Fed President James Bullard thinks the Federal Reserve should keep boosting interest rates to fight inflation as the labor market remains strong and the high likelihood that recent financial stress will continue to abate. 

WHY: "We've got a long way to go and I think inflation is going to be sticky going forward...so we're going to have to stay at it to make sure inflation gets back down" Bullard told a gathering of the Arkansas Bankers Association in Little Rock, Arkansas.   

Guess where jobs are booming? The IRS!

WHAT: Hold on to your wallets folks! The IRS is bulking up and getting some shiny new tech toys to up their tax collecting game — they're planning to hire nearly 30,000 employees over the next two years and investing a whopping $80 billion in tax enforcement and customer service.

WHY: The $80 billion in funding from last year's Inflation Reduction Act is aimed at rebuilding the agency's audit capabilities and 1960's-era computer technology after over a decade of funding cuts.    

IMF: Next 5 years could be pretty bleak...

WHAT: If you're a growth hawk, the International Monetary Fund just rained on your parade. The Fund's outlook for economic growth over the next 5 years is weaker than Popeye before a can of spinach — in fact, it's the weakest in more than three decades. Yikes!

WHY: Managing Director Kristalina Georgieva, delivering remarks in Washington said the world economy is likely to expand at about 3% over the next half-decade, the lowest medium term growth forecast since 1990, and less than the 5-year average of 3.8% from the past two decades. 

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In Other News

More planes to rule the sky!

 WHAT: Boeing is revving up their engines and preparing to increase production of their 737 jets to a whopping 38 planes per month by mid-year. The news comes as Boeing continues to navigate supply chain woes that plagued it during the Covid-19 pandemic.

WHY: The company has been briefing customers on plans to ramp up production of its popular narrowbody jet over the next few months and hiring workers to help speed up manufacturing according to reports from Bloomberg News. 

Another day, another Robinhood fine...

WHAT: Looks like Robinhood has finally paid the piper — or rather the penalties. To settle allegations from a multistate probe into outages during the pandemic-fueled market volatility in March 2020, the company will cough up as much as $10.2 million. 

WHY: The investigation, conducted by state securities regulators, found that Robinhood failed to exercise due diligence before approving options trading, report complaints to a regulator, and supervise technology critical to providing customers with core broker-dealer services.   

Charge your EV...at Walmart?

WHAT: Attention electric vehicle owners: Walmart's got your back! They're planning to build a massive charging network at thousands of their stores including Sam's Club locations and expect it to be up and running by 2030.  

WHY: Walmart says it's uniquely positioned to build out a charging network for EV owners, citing that its stores and warehouses are located within "10 miles of approximately 90% of Americans"  

Key Economic Events

• Friday - US Unemployment Rate

Notable Briefs

• Here are 6 tips to consider when choosing a financial advisor

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• Is buying a house always a good investment?

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