Trailblazer: Did you know that America’s first self-made black female millionaire is a woman named Sarah Breedlove who was born in Louisiana? Breedlove—an activist and philanthropist known as Madame CJ Walker—was born in 1867 to sharecroppers. She was a pioneer of the black haircare industry, developing a line of groundbreaking products that helped her amass a fortune she would use to help her community. Walker’s legacy lives on and is spotlighted in a recent Entrepreneur magazine feature that gives six universal business lessons that can be learned from her story like investing in yourself and collaborating with people who believe in your vision. See the full feature.
Upside down: The traditional effect of oil prices on the U.S. economy—higher being bad for the economy—is no longer as straightforward, The Wall Street Journal reports. Between 2014 and early 2016, as oil collapsed, growth slowed sharply. Since then the price of oil has doubled, yet the economy has accelerated. This can be credited to the emergence of the U.S. as a leading oil producer and, soon, net energy exporter. More expensive oil is still a tax on consumers, but that tax is increasingly offset by the boost to energy investment, production and jobs. Read more. A subscription may be required.
Bullish: Federal Reserve officials at their January meeting saw a brightening global economic picture and the effects of recently passed tax cuts raising the prospect for solid growth and continued interest rate increases. The minutes of the Fed’s Jan. 30-31 discussions showed that the officials were more optimistic about the economy than they had been in December. They noted a stronger U.S. and global economy as well as expectations that the Republican tax cuts enacted in December would boost growth. Read more.
