Top-of-mind economic news as we start the week:
— The Federal Reserve left its key interest rate unchanged at 5.25% to 5%, but said rate cuts are off the table as inflation is still a major concern.
— U.S. job growth cooled in October, as 150,000 jobs were added and unemployment climbed to 3.9%.
— The strike by the United Auto Workers ended, with General Motors being the last to agree to a 4.5 year contract that includes major wage increases.
— Europe’s economy shrank by 0.1% in the 3rd quarter and has grown 0.1% in the past year, indicating the region is teetering on recession.
— CalPERS (CA employees pension fund) will double climate-related investments to $100 billion by 2030, consider selling climate-change laggards.
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