Valentine Slump

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What's Happening Today

Happy Valentine's Day! It's Kristin with your daily morning digest.

Investors aren't feeling the love today, with stocks mixed amid concerns the Federal Reserve may be more aggressive in its fight against rising inflation. As we noted last week, St. Louis Federal Reserve President James Bullard (one of the country's regional reserve banks) told reporters his views have become more "hawkish," and that he supports raising interest rates by half a percentage point (or 50 basis points) next month, which sent markets on a volatile downward ride.

And if you haven't bought any gifts yet for today's holiday, prepare your wallets for an unwelcome surprise: things are more expensive this year than last, thanks to inflation and supply chain crunches. An analysis from The Balance found roses are up 54% from last year, while diamonds are 15% more expensive.

Don't forget to join us tomorrow, Feb. 15, at 6 p.m. Eastern for our next Instagram Live conversation with Matthew Garland, mortgage adviser, broker, and CEO of the Garland Mortgage Group. We'll be discussing everything you need to know and expect during the process of buying a home. We hope to see you there!

- Kristin

Editors' Picks

Pricier Oil Could Make Everything Even More Expensive (The Balance)

There's No Perfect Way To Inflation-Proof Your Investments (The Wall Street Journal)

IRS Halts Some Letters Until It Can Catch Up on Returns (The Balance)

Valentine's Day Gifts Are More Expensive in 2022 (The Balance)

Spotlight: Celebrating Black History Month

In honor of Black History Month, we're highlighting content that celebrates Black communities. Throughout February, we're addressing the homeownership gap between Black households and their counterparts, which has contributed to racial wealth inequality.

How To Build Your Homebuying Support System

Your real estate agent and mortgage lender should support you throughout the homebuying process. Here's how to build a team who will advocate for you.

Off the Charts

More small businesses are hiking prices for their goods and services than at any point since 1974, showing just how widespread inflation is.

In January, a net 61% of small businesses reported increasing prices over the last three months, according to a survey by the National Federation of Independent Business. The last time the group saw more than that was in the fourth quarter of 1974.

Number of the Day

7 - That's how many months in the last 10 we've seen a popular measure of consumer confidence fall, and the latest dip could mean a drop in spending will follow.

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