What the Media was Worried About – May 2022

giraffeThey should remake Jurassic Park using CGI giraffes instead of dinosaurs. I would watch Giraffic Park.

I’m catching up.  May had fewer headlines, but they were pretty huge.

Page One

Leak from the Supreme Court that they will overturn Roe vs Wade, making abortion a state issue, not federal.

Economy/Markets

Federal Reserve raises rates 0.75% (huge raise).  Equity markets rally 3% on the day.

Bank of England sees 10% inflation by the end of 2022

Markets crash.  Bear market intraday, but not official as it did not close down 20% from highs.

S&P 500 streak of 7 straight down weeks finally breaks.

Other

monkeypox is a thing.

PS

Just when we thought SCOTUS was once again a bastion of decorum and collegiality, bam.  I’m sure it all blows over by June, right?  Ok, the media worrying kicks back into high gear next month: ESG, more inflation, and sriracha.