![]() "I wanted to do costumes that nobody will look at," costume designer Bina Daigeler told WWD. Cate Blanchett's character in the recent film Tár might be problematic, but her wardrobe is perfect an immaculately put together collection of staple pieces from Margaret Howell, Max Mara, The Row and Dries van Noten. It's not just Succession that's shone a spotlight on stealth-luxe style. "The last person you'd think was a billionaire is the billionaire." As Colleen Morris-Glennon, costume designer for TV series Industry – another show that allows us to hang out with the fictional super-wealthy – explained to Vogue, the richer someone is, the harder they can be to pick out in the crowd. Her brother Kendall, meanwhile, loves Loro Piana, an Italian label that specialises in low-key pieces made from the finest fabrics, where a coat can cost $25,000 (though you can pick up one of Kendall's beloved cashmere baseball caps for a bargain $495). Shiv Roy might be able to afford any couture gown she desires, but you'll most likely find her in a plain black polo neck, brown trouser suit or beige shirt (though one made from the finest silk).There might be the odd pinstripe or check – or an occasional flash of colour for a social event – but for the most part this is suppressed, not stand-out, style. The show famously has wealth consultants to advise on every minor detail, and costume designers who carefully construct a wardrobe that truly reflects the 0.01%. Over four seasons, Succession has given us a glimpse – albeit a fictional one – into the lifestyles of the richest people in the US, and shown how billionaires differentiate themselves from a bog-standard multi-millionaire. It's flashy, attention-grabbing and everything the Roys and their ilk are not – because, once your bank balance is in the billions, you don't need to try to impress anyone. This is a bag that wears its price tag on its sleeve. The distinctive checked print is immediately recognisable– even without an accompanying logo. But it's not just the size that's the issue. You could slide it across the floor after a bank job." The ultra-rich, of course, rarely need to carry anything themselves. "Flat shoes for the subway? Her lunch pail? It’s gargantuan. "What’s even in there?" asked Tom mockingly. Instead, these issues are concentrated in smaller and regional firms.By carrying a "ludicrously capacious" bag – as Greg's tormenter and co-conspirator, Tom Wambsgan designated it – Bridget immediately marked herself out as an interloper in this exclusive world. It's not the largest US banks that will take immediate hits. It's important that the Fed notes that this doesn't mean the banking system as a whole is facing an existential crisis. Second, El-Erian says the US central bank should address turmoil in the banking sector, adding that the risk of "further bank failures not been extinguished" and are "likely to undermine the extension of credit to the economy."Įl-Erian added: "It should also clarify that an increase in credit risk would aggravate what has until now mainly been related to interest-rate risk." ![]() "Market volatility is three times higher during press conferences held by current Chair Jerome Powell than those held by his predecessors, and they tend to reverse the market's initial reactions to the Committee statement," a study from the Center for Economic and Policy Research released last month reads. ![]() Large price swings typically occur around the Fed's policy announcements.
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