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Economy

This Spinoff Rear-Ended the Used Car Market

I’d rather have a root canal without anesthesia than negotiate with a used-car salesperson. That was the challenge that two retail electronic executives wanted to tackle. In 1991, they came up with a new way to sell used cars. They wanted to create a buying experience that was pleasant and enjoyable. That’s when Richard Sharp and W. Austin Ligon came up with the idea for CarMax…

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The Fed’s Next Move is Designed to Surprise You

The U.S. Federal Reserve holds tremendous power over the U.S. economy. By setting benchmark rates, it dictates the terms for interbank lending — and in turn, the borrowing costs for virtually every business and household in America. But aside from raising or lowering those rates, the Fed has very few meaningful ways to interact with the larger economy (excluding emergency measures, of course). So controlling the flow of information, controlling the perception and expectation of rate cuts, becomes one of the Fed’s most powerful tools.

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