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Excluding the volatile food and energy components, the PCE price index rose 0.3%, after edging up 0.1% in August. The so-called core PCE price index rose 3.7% on a year-on-year basis in September, the smallest gain since May 2021, after increasing 3.8% in August. Stripping out housing, the core PCE price index rose by a mild 0.2%. The super core PCE price index advanced 4.3% year-on-year in September. Policymakers are watching the super core PCE price index to try and gauge their progress in combating inflation.
Persons: Bing Guan, Sal Guatieri, James Knightley, Chris Low, Pooja Sriram, Lucia Mutikani, Chizu Organizations: REUTERS, Commerce Department, Federal, BMO Capital Markets, Commerce Department's, Economic, Reuters, Consumer, ING, FHN, Treasury, Fed, Barclays, Thomson Locations: SoHo, New York City, U.S, WASHINGTON, Toronto, New York
Unwanted interactions and shark sightings have made national headlines, and shark bites in popular tourist destinations have prompted temporary closures. Kathy Hochul deployed dozens of shark-monitoring drones to parts of the state after Long Island authorities repo rted five non-fatal shark bites over two days. In 1997, the US established the prohibited shark species group, which barred the possession, sale and purchase of several shark species, including white and sand tiger sharks. “If sharks … wanted to bite people, I think we’d probably have about between 10 and 20,000 shark bites a day,” said Naylor. Video Ad Feedback Drone footage shows great white shark swimming near surfers 00:45 - Source: CNNSo, how can we best coexist?
Persons: Kathy Hochul, , Bob Hueter, , Hueter, ” Hueter, Gavin Naylor, “ We’ve, we’ve, Chris Lowe, “ I’ve, let’s, , Naylor, Lowe Organizations: CNN, Gov, “ Sharks, Sharks, Mammal, Shark Research, Florida Program, University of Florida, California State University, Southern, ISAF, Shark Lab Locations: New York, Long, United States, Long Beach, Southern California, California
The dollar index was last down 0.3% at 103.01 after hitting a four-week low of 102.66 in the session. While signaling more rate increases, Fed Chair Jerome Powell said in a press briefing that the U.S. central bank was not so far away from its target on the benchmark fed funds rate. Officials now expect the fed funds rate to top out at 5.6% this year, implying two more 25 bps increases in 2023, up from the 5.1% estimate in the last set of forecasts released in March. He noted that in 2006, the fed funds rate stood at 5.25% from July 2006 to August 2007 before being cut in the wake of the global financial crisis. Elsewhere, sterling rose 0.4% against the dollar to $1.2660, after hitting its highest since April 2022 of $1.2699.
Persons: Jerome Powell, Chris Low, Louis, James Bullard's, James Bullard, Srijan, Gertrude Chavez, Dreyfuss, Amanda Cooper, Jonathan Oatis, Lisa Shumaker, Richard Chang Organizations: NEW YORK, U.S, Federal Reserve, Market, Officials, FHN, Louis Fed, Traders, Bank of Japan, Bank of England, Thomson Locations: U.S, New York, London
Consumer prices decelerated to 4.9% year-on-year, the 10th straight month of slowdown as prices react to the Fed's rate-tightening cycle. Excluding the volatile food and energy components, the CPI increased 0.4% last month, matching March's gain. Though rents continued to put upward pressure on the core CPI, rental inflation is poised to ease. The government reported last week that the rental vacancy rate increased to a two-year high in the first quarter. In the 12 months through April, the core CPI gained 5.5% after advancing by 5.6% in March.
Still, the labor market and inflation are likely not cooling fast enough to stop the Federal Reserve from raising interest rates one more time next month. Claims, however, remain below the 270,000 level, a breach of which economists say would signal a deterioration in the labor market. "The upcoming labor market downturn will be modest since the drop in demand is expected to be fairly modest." InflationThe annual PPI rate is subsiding as last year's large increases drop out of the calculation. In the 12 months through March, the core PPI advanced 3.6% after increasing 4.5% in February.
Great white shark numbers are increasing off the coast of Southern California's beaches. Adult white sharks can reach 12-20 feet, but they rarely come close to the shoreline. California banned actively targeting white sharks in 1994, as well as certain fishing nets that often entrapped the sharks. Warning signs for shark sightings remain in Long Beach, California, on May 16, 2017, where Great White sharks and their pups have been sighted regularly off southern California beaches. Researchers emphasized it is still safe to swim along the Southern California coast, which sharks have historically inhabited longer than us.
"How I Met Your Father" season two hits Hulu on January 24. Check out the trailer for 'How I Met Your Father' season 2Hilary Duff ("Lizzie McGuire") stars in "How I Met Your Father" season two as present-day Sophie. How to watch 'How I Met Your Father' season 2You can watch "How I Met Your Father" season two exclusively on Hulu starting January 24, with new episodes set to follow every Tuesday. How many episodes will 'How I Met Your Father' season 2 have? "How I Met Your Father" season two will have 20 episodes in total.
While overall inflation slowed substantially from the second quarter, underlying price pressures continued to bubble. Gross domestic product increased at a 2.6% annualized rate last quarter after contracting at a 0.6% pace in the second quarter. That was the slowest rise in this measure of domestic demand since the second quarter of 2020 and followed a 0.5% rate of increase in the second quarter. A broader measure of inflation in the economy rose at a 4.6% rate, decelerating from a 8.5% pace of increase in the second quarter. Business inventories increased at a rate of $61.9 billion after rising at a pace of $110.2 billion in the second quarter.
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