Approximately 3.5 million Americans were able to climb out of poverty last year, according to The New York Times. The Times reports 2015 was a tipping point for the U.S. economy. After years of slow growth, employment finally picked up and wages rose with it. Millions of workers took advantage of the improving economy to get out of poverty. But, as The Times reports, many were also helped by government assistance and non-profit services.
The next crisis?
Bloomberg sat down with the former head of the FDIC to find out what keeps her up at night. Sheila Bair is one of the few people who saw the 2008 financial crisis coming. In her job as head of the FDIC, she warned bankers of their risky lending practices before the collapse occurred. After it happened, she pushed hard for regulations to prevent it from ever happening again. But now, in a new role, Bair sees a new risk, with some eerie similarities to the housing meltdown. This time, the risk she sees is in student debt.
The problem with ‘power poses’
One of the co-authors of a frequently cited study on the benefits of “power posing” now says she doesn’t believe the effects are real. Power poses became a sensation after a TED talk about the strategy went viral. The idea is that if you stand in a particular pose – say a superhero stance – for just a short amount of time, you can raise your confidence and your ability to handle a stress-inducing situation. The strategy was supposed to help people facing a daunting business meeting, or a job interview, get over their jitters. But now, New York Magazine reports one of the original co-authors of the study that first demonstrated the power of power poses, says she no longer believes the study was valid.
Pfizer’s plan fizzles
Pfizer announced Monday it won’t go through with a previously-announced plan to split itself into two companies. Reuters reports the plan to split had been in the works for two years. But it fell apart after a different deal fell apart. Pfizer dropped a $160 million acquisition of an Ireland-based drug maker because of tax reasons. Reuters says Pfizer could revisit its plan to split sometime in the future.
“superman” by flickr user Matt Northam CC license CC by-NC-ND 2.0.