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☆ How shipping containers can make or break the global economy
▼ + stars: | 2024-03-26 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +4 min

The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. Supply chain disruptionsDisruptions to global trade can have major impacts on shortages and inflation, causing serious ramifications for American households and businesses. Indeed, inflation cooled alongside the bounce back of the supply chain, according to a White House analysis of the U.S. economy. [It's] an inefficiency born not of container shipping but just of the nature of the global economy." Watch the video above to learn more about how shipping containers enable global trade, why China dominates the shipping industry and what happens after a container shortage.

Persons: Simon Heaney, John Fossey, Good Hope, John McCown, nonresident, McCown, Goetz Alebrand, " Heaney, Heaney Organizations: Drewry, CNBC, Supply, Federal Reserve Bank of San, Center for Maritime Strategy, Federal Maritime Commission, Americas, DHL Global Locations: Federal Reserve Bank of San Francisco, U.S, Iran, Good, Africa, China, Ukraine, Asia

☆ Employee Productivity Is Booming As Workers Get Better at Their Jobs
▼ + stars: | 2024-03-21 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

At the simplest level, labor productivity is how much output (widgets, meals, spreadsheet computation) one person can complete in an hour. Employers were running around with fishnets trying to find people, and workers used their leverage. By contrast, the late 1990s were a period of higher productivity growth and underestimated growth, starting the year at 2% but ending closer to 4%. But it's probably too soon to be thinking about these factors as the main driver of recent productivity growth. The investment implications of this are clear: Stronger productivity growth implies a higher speed limit for the economy.

Persons: —, it's, we'll Organizations: Federal Reserve Bank of San, Labor, P Global, Manufacturing, Capital, Employers, downturns, Professional Locations: Silicon Valley, Federal Reserve Bank of San Francisco

☆ Immigration is 'taking pressure off' the job market and U.S. economy, expert says
▼ + stars: | 2024-03-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +10 min

Mark Zandi, chief economist at Moody's Analytics, said the increase in foreign-born workers is "taking pressure off the economy." The growth in foreign-born workers comes amid a contentious immigration policy debate in the U.S. Immigrants' share of the labor force has increased since 1996, when the Bureau of Labor Statistics began collecting such data. A growing population and labor force are key components of a healthy economy and the nation's ability to pay its bills, economists said. In other words, the economy is both absorbing immigrants and generating job opportunities for U.S.-born workers, the institute said.

Persons: Mark Zandi, it's, Alejandro Mayorkas, John Moore, Muzaffar Chishti, Jack Malde, Qian Weizhong, Steven Camarota, Camarota, Paul Ratje, Eric Thayer, Malde, EPI, Zandi, There's, Luis Alvarez Organizations: U.S . Bureau of Labor Statistics, Moody's, Republicans, U.S, Department of Homeland, U.S . Border Patrol, U.S . Department of Homeland, Getty, Migration Policy Institute, CNBC, Foreign, U.S . Immigrants, Bureau of Labor Statistics, Pew Research Center, Social Security, Congressional, Office, Center, Immigration, . Border Patrol, Getty Images, Federal Reserve Bank of San, Center for Immigration Studies, Afp, Bloomberg, Economic Policy Institute, National Academies of Sciences, Engineering, Medicine, Digitalvision Locations: U.S, Mexico, Eagle Pass , Texas, San Diego , California, Federal Reserve Bank of San Francisco, Paso, Ciudad Juarez , Mexico, Los Angeles

☆ Return-to-office mandates aren't making companies more valuable and productive, study finds
▼ + stars: | 2024-01-30 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

That's according to a new paper that looks at how RTO mandates impact productivity and performance. If RTO mandates are hard to enforce, they probably don't make sense for that workplace. RTO mandates were more common for firms with "male and powerful CEOs." The authors found no significant impact of RTO mandates on stock returns or firm profitability. RTO mandates have divided many offices nationwide, including at leading tech and financial companies.

Persons: —, Nick Bloom, RTO, Bloom, Danielle Organizations: Service, Katz Graduate School of Business, University of Pittsburgh, Amazon, Federal Reserve Bank of San Francisco, Stanford, The Conference Board Locations: Glassdoor

☆ Consumers Feel Better About the Economy. Why? Gas Prices, Eggs, Stocks
▼ + stars: | 2024-01-29 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Listen, I'm not saying that all the good vibes Americans are suddenly feeling about the economy boil down to stocks, gas prices, and eggs. What improved America's economic vibes was basically three things: the soaring stock market, falling gas prices, and eggs. Research shows that consumers feel more pessimistic when gas prices go up — James Surowiecki points out in The Atlantic that high gas prices also make people less happy and more likely to hate the president. If oil prices stay relatively low and, in turn, keep gas prices down, less exasperated drivers could help Joe Biden keep his job come November. There are all sorts of geopolitical threats and unknowns that could throw global trade and oil prices (and thus gas prices) into chaos.

Persons: I'm, there's, There's, Jordan Weissmann, —, It's, James Surowiecki, Joe Biden, they're, Emily Stewart Organizations: University of, Dow, Federal Reserve Bank of San, AAA, Research, Bureau of Labor Statistics, Times, Business Locations: America, The

☆ The Fed could cut interest rates as early as the first quarter of 2024. Here are 7 quotes from central bankers that hint at what comes next.
▼ + stars: | 2023-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Markets are betting the Federal Reserve will cut interest rates as soon as early 2024. AdvertisementWall Street largely anticipates that the Federal Reserve has finished its interest rate-hiking cycle, and markets are betting central bankers will begin easing policy soon. Tom Barkin, Federal Reserve Bank of Richmond president, November 29: "If inflation comes down naturally and smoothly, awesome. Mary Daly, Federal Reserve Bank of San Francisco president, November 30: "I'm not thinking about rate cuts at all right now. John Williams, Federal Reserve Bank of New York president, November 30: "My assessment is that we are at, or near, the peak level of the target range of the federal funds rate."

Persons: Jerome Powell, —, CME's, Christopher Waller, Tom Barkin, Raphael Bostic, Mary Daly, John Williams, Williams Organizations: Federal Reserve, Service, ING, Barclays, Federal Reserve Bank, Richmond, Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco, Federal Reserve Bank of New York, Federal

☆ Fed President Daly warns against calling time on rate-rising cycle too soon - FT
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

Federal Reserve Bank of San Francisco President Mary Daly poses for a photograph at the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S. August 25, 2023. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsNov 15 (Reuters) - San Francisco Federal Reserve President Mary Daly warned against calling time on rate-rising cycle too soon, in an interview to Financial Times on Wednesday. Daly refused to rule out another interest rate increase, given uncertainty about whether the central bank has done enough to push consumer price growth back down to its 2 per cent target. She indicated little concern about the recent sharp fall in US government bond yields, which has loosened financial conditions, according to FT. Reporting by Urvi Dugar in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Mary Daly, Ann Saphir, Daly, Urvi Organizations: Reserve Bank of San Francisco, Kansas City Federal, REUTERS, San Francisco Federal, Financial Times, Thomson Locations: Jackson Hole , Wyoming, U.S, Bengaluru

☆ Fed's Daly: Still too soon to say rate hike cycle is over -CNBC
▼ + stars: | 2023-11-10 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The Fed's monetary policy "is in a very good place" and "the news on inflation has been fairly good," Daly said in a CNBC interview. "There's a lot of demand for certainty that we would say we're done or we're definitely hiking, but the truth is, we don't know," Daly said. If financial conditions continued to ease, Daly said that would merit Fed attention. What's more, Daly noted that recent churning in the bond market was unlikely to be driven by some sort of underlying problem. "Bond yields move around for a variety of reasons, and there's a lot of uncertainty out there," Daly said.

Persons: Mary Daly, Daly, Jerome Powell, Powell's, Michael S, Andrea Ricci Organizations: Federal Reserve Bank of San Francisco, CNBC, Market, Financial, Fed, Thomson

☆ Fed's Mary Daly says it's ‘too early to declare victory’ on inflation
▼ + stars: | 2023-11-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Tighter monetary policy is helping bring down the pace of inflation but not to a level where policymakers should feel too comfortable, San Francisco Federal Reserve President Mary Daly said Friday. "All of that said, it is far too early to declare victory." Daly compared the Fed's job to get policy to the "sufficiently restrictive" benchmark to someone riding a horse and trying to know whether the bridle has been pulled back far enough to stop. "You don't know if the horse is feeling that bridle enough to be sufficiently restrictive to stop," she said. "We're going to be very forward-looking here, and so that's why it's too early to declare victory.

Persons: Mary Daly, Jerome Powell, Daly, it's Organizations: Federal Reserve Bank of San, San Francisco Federal, Federal, CNBC PRO Locations: Federal Reserve Bank of San Francisco, Idaho Falls , Idaho

☆ Fed's Daly: Risks of doing too much vs too little 'roughly balanced'
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Bank of San Francisco President Mary Daly poses for a photograph at the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S. August 25, 2023. "How much can the economy take in terms of rate increases so we can get the policy rate to a level that's reasonable to bring inflation down? She was describing the balancing act the Fed faces after raising the short-term policy rate from near zero to 5.25%-5.5% over a span of about 18 months. "I would say now the risks of how we balance those things are roughly balanced -- over-tightening versus under-tightening -- but we still have high inflation and the labor market's still strong," she said. "It's part of a large dashboard of data," she said, to which the Fed needs to be able to respond to with agility.

Persons: Mary Daly, Ann Saphir, Daly, Chris Reese, Leslie Adler Organizations: Reserve Bank of San Francisco, Kansas City Federal, REUTERS, San Francisco Federal, Treasury, Thomson Locations: Jackson Hole , Wyoming, U.S, San, Chicago, Palestinian, Israel

The September jobs report that the Labor Department will issue Friday will show just how much of that durability remains. A growing body of evidence, though, suggests that the job market is cooling — something Fed officials would like to see. Businesses often raise their prices to cover their higher labor costs. Fewer Americans are quitting their jobs after a surge in resignations in the aftermath of the pandemic. Most people quit to take other jobs with higher pay, so the decline in quitting indicates that workers now see fewer available opportunities elsewhere.

Persons: Jerome Powell, Mary Daly, ” Daly, Goldman Sachs Organizations: WASHINGTON, Federal Reserve, Labor Department, Institute for Supply Management, Federal Reserve Bank of San, Economic, of New Locations: United States, Federal Reserve Bank of San Francisco, of New York

☆ This bank ended the third quarter with a bang, boosting its CD yield to 5.6%
▼ + stars: | 2023-10-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Banks that hiked yields in the final stretch of the third quarter include Bread Financial , which is now offering an annual percentage yield of 5.6% for a 1-year CD. One basis point equals one-hundredth of a percentage point. "We expect at least one more guide up from bank management teams on deposit betas as the Fed keeps rates higher for longer," wrote Morgan Stanley analyst Betsy Graseck. Those factors include competition from money market funds for depositors' dollars, and lower-yielding CDs repricing at higher rates, she added. The San Francisco Fed forecast that the last of these dollars would be depleted during the third quarter of 2023.

Persons: Stephens, Vincent Caintic, Banks, Ally Financial, Morgan Stanley, Betsy Graseck, — CNBC's Michael Bloom Organizations: Bread, Federal Reserve, Fed, Federal Reserve Bank of San, San Francisco Fed Locations: Stephens, Federal Reserve Bank of San Francisco

☆ Employers can use phrases in your resume to unfairly discriminate based on age—how to protect yourself against it
▼ + stars: | 2023-09-29 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +2 min

Age discrimination in hiring is an illegal yet pervasive practice. While age discrimination is a well-documented phenomenon, in many cases it goes unnoticed and unaddressed. Victims of age discrimination may be unsure of whether or not what they are experiencing classifies as discrimination and hiring officials may be unaware of their implicit biases against older workers. This makes it all the more difficult to address and protect yourself against age discrimination. Common resume red flagsChoices you make in your resume might inadvertently be working against you.

Persons: Marc Cenedella, Cenedella Organizations: Federal Reserve Bank of San, CNBC, Yahoo, Skype Locations: Federal Reserve Bank of San Francisco

☆ 3 retailers weigh in on how a financial technology platform helped solve their enterprises' most pressing challenges
▼ + stars: | 2023-09-27 | by ( Sponsor Post | Created Insider Studios With Adyen | ) www.businessinsider.com time to read: +5 min

From arts and entertainment to health and wellness, businesses across industries are tapping into financial technology to drive growth. Below are three tips to help enterprises stay informed on the latest financial technology trends, while delivering value to their customers and employees. Choosing a single payment platform is a good starting point for increasing agility, but the type of platform you choose matters. Taking the next stepFor businesses looking to scale amid a changing economic landscape, a single financial technology platform isn't just a choice; it's a necessity. Learn more about how Adyen's single payment platform can help your enterprise meet the evolving needs of customers and businesses.

Persons: —, Pepe Jeans, Vázquez Cabezas Organizations: Enterprise, Terme, Federal Reserve Bank of San, Connect, Marketing, Insider Studios Locations: Federal Reserve Bank of San Francisco, Adyen

☆ The trusty American consumer is poised to run out of steam by early next year, investor survey says
▼ + stars: | 2023-09-12 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Spending by the ever-reliable US consumer is about to fizzle out, according to a Bloomberg investor survey. Such resilience has staved off widespread recession fears, but as household savings run out, the fortunes of the US economy could reverse. AdvertisementAdvertisementIndeed, excess savings accumulated since the pandemic are poised to evaporate by as early as the end of September, the Federal Reserve Bank of San Francisco has said. "We still have very high prices, but we don't have all of that funny money around anymore, and the excess savings are going negative." The famed investor says the drying up of consumer savings is set to hammer corporate profits as spending declines.

Persons: –, Jeffrey Gundlach, Michael Burry Organizations: Bloomberg, Service, Federal Reserve, Federal Reserve Bank of San, Billionaire, DoubleLine, Fox Business Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ JPMorgan's Jamie Dimon says we've been 'spending like drunken sailors,' and that's a big risk to the economy
▼ + stars: | 2023-09-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

"We've been spending money like drunken sailors around the world, this war in Ukraine is still going on," he said. Dimon joins a chorus of recent voices warning over the strong US economy powered by consumer spending. "We've been spending money like drunken sailors around the world, this war in Ukraine is still going on. Since consumer spending accounts for about 70% of the US economy, any changes to the measure are a big deal. AdvertisementAdvertisementAfter all, the resilience of the US consumer has kept the economy going even amid the Federal Reserve's relentless rate hike cycle since March last year.

Persons: Jamie Dimon, We've, Dimon, David Rosenberg Organizations: Service, Federal, Federal Reserve Bank of San, Bloomberg, Wall, JPMorgan Locations: Ukraine, Wall, Silicon, Federal Reserve Bank of San Francisco

☆ The US consumer has been holding up the economy this summer by splurging on movies and concerts — but this may not last, a new survey indicates
▼ + stars: | 2023-09-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The strong consumer spending propping up the US economy may not last, a Bloomberg survey found. Over half of the respondents said they think US personal consumption will shrink in early 2024. High interest rates and a drawdown of pandemic-era savings could hit consumer spending. Since consumer spending accounts for about 70% of the US economy, any changes in the measure are a big deal. AdvertisementAdvertisementMeanwhile, JP Morgan predicted in an August 17 note that the stock market is set to fall as US consumer spending softens.

Persons: Jim Chanos, Anna Wong, James Knightley, David Rosenberg, JP Morgan Organizations: Bloomberg, Service, Wall, Bloomberg Economics, ING, Federal Reserve Bank of San Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ Key San Francisco Fed official who oversaw supervision of SVB will retire
▼ + stars: | 2023-08-29 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Azher Abbasi, head of supervision at the Federal Reserve Bank of San Francisco — and a key official with direct oversight over failed Silicon Valley Bank — will retire at the end of October, the regional reserve bank announced this week. Abbasi and Mary Daly, president of the San Francisco Fed, came under scrutiny after a post-mortem report undertaken by the Federal Reserve found problems with how SVB was supervised. The San Francisco Fed declined to share additional details with CNN about Abbasi’s departure. Outside of the report, there have been concerns about potential conflicts of interest regarding Greg Becker, the former CEO of SVB, serving as a director on the San Francisco Fed board, potentially having a say over how SVB was supervised. Willardson previously worked at the Minneapolis Fed in a variety of positions from 1990 to 2022, including as senior vice president for supervision, regulation and credit for eight years.

Persons: New York CNN — Azher Abbasi, Federal Reserve Bank of San Francisco —, Abbasi, Mary Daly, SVB, San Francisco Fed, Greg Becker, Niel Willardson, Willardson Organizations: New, New York CNN, Federal Reserve Bank of San, San Francisco, Federal Reserve, Fed, CNN, San Francisco Fed, Minneapolis Fed, Deposit Insurance Corporation Locations: New York, Federal Reserve Bank of San Francisco, San Francisco Fed, midsized

☆ San Francisco Fed's chief of supervision to retire
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: 1 min

A pedestrian walks near the branch of Federal Reserve Bank of San Francisco, in Salt Lake City, Utah, U.S., April 7, 2023. REUTERS/Ann Saphir Acquire Licensing RightsAug 28 (Reuters) - Azher Abbasi, head of supervision at the San Francisco Federal Reserve, will retire at the end of October, the bank's spokesperson said on Monday. Abbasi will be succeeded by Niel Willardson, who will join the San Francisco Fed as interim executive vice president of supervision and credit, the spokesperson said via email. Abbasi joined the San Francisco Fed in 2015. Reporting by Evelyn Nikhila S in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Saphir, Azher Abbasi, Abbasi, Niel Willardson, Willardson, Evelyn Nikhila, Matthew Lewis Organizations: Federal Reserve Bank of San, REUTERS, San Francisco Federal Reserve, San Francisco Fed, Minneapolis Fed, Bloomberg, Thomson Locations: Federal Reserve Bank of San Francisco, Salt Lake City , Utah, U.S, Bengaluru

☆ Americans are exhausting their excess savings - and could run out funds this quarter, Fed study says
▼ + stars: | 2023-08-18 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Americans are burning through their savings and could run out funds as early as this quarter, a Fed study showed. As of June, Fed estimates show US households held less than $190 billion of aggregate excess savings. With excess savings dwindling, Americans have leaned on their credit cards for spending. Excess savings refer to the difference between actual savings and the pre-recession trend, Fed researchers said. As of June, Fed estimates show that US households held less than $190 billion of aggregate excess savings.

Persons: Hamza Abdelrahman, Luiz Oliveira, Abdelrahman, Oliveira Organizations: Service, Privacy, Federal Reserve Bank of San, San Francisco Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ Fed officials fretted US inflation might not cool further unless economy slows down
▼ + stars: | 2023-08-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Federal Reserve officials were wary that inflation would slow further unless the US economy and labor markets also cool down, according to minutes from their July policy meeting released on Wednesday. There have only been two meetings in which Fed officials dissented with a decision since the central bank began lifting rates in March 2022. “Inflation is still significantly above” the Fed’s 2% target, Fed Governor Michelle Bowman said earlier this month. The surprising economic strength this summer raised optimism among investors and Fed officials that the US economy can avoid a recession or a sharp uptick in unemployment as inflation continues to slow. Fed economists are in fact no longer projecting a recession, according to the minutes, which Fed Chair Jerome Powell divulged in his post-meeting news conference last month.

Persons: It’s, “, Michelle Bowman, dovish, Patrick Harker, ”, Quincy Krosby, Jerome Powell Organizations: DC CNN — Federal Reserve, Fed, Philadelphia Fed, LPL, Commerce Department, Research, Federal Reserve Bank of San Locations: Washington, June’s, Atlanta, Federal Reserve Bank of San Francisco

☆ US consumers are feeling less optimistic about the economy for the first time this summer
▼ + stars: | 2023-08-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans became slightly less optimistic about the economy this month, following two straight months of growing confidence. Sentiment had been on an upswing throughout the summer, mostly due to slower inflation, and is well above the record lows reached this time last year. Signs of cooling inflationGas prices, which are highly visible indicators of inflation for consumers, have risen in recent weeks, which could weigh on sentiment in the future. Still, consumers face the resumption of student loan payments later this year, and that could weigh on household budgets. US consumers opened up their wallets this summer, with many flocking to the smash-hit “Barbie” movie, attending concerts by Taylor Swift or Beyoncé, or traveling abroad.

Persons: “, ”, Joanne Hsu, Ryan Sweet, bode, Kieran Clancy, Barbie, Taylor Swift Organizations: DC CNN, University of Michigan, University of Michigan’s, University, Oxford Economics, Federal Reserve Bank of San, Pantheon, Consumer, Commerce Department, Federal, Atlanta Locations: Washington, June’s, Federal Reserve Bank of San Francisco, Michigan

☆ Top economist David Rosenberg says Bill Ackman's bet against Treasurys could end as badly as his Herbalife wager
▼ + stars: | 2023-08-11 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

David Rosenberg took a jab at billionaire investor Bill Ackman for his bet against US Treasurys. His view contrasts to Ackman who revealed he's shorting 30-year US Treasurys as a hedge against high inflation. That contrasts to Ackman's view of stubbornly high inflation, which has led him to short US Treasurys. Bond prices tend to have an inverse relationship to interest rates. When interest rates go up, bonds usually fall.

Persons: David Rosenberg, Bill Ackman, Ackman, he's, Rosenberg, Fran Fed's Organizations: US, Service, Rosenberg Research, Reserve, Ackman's, Federal Reserve Bank of San, Federal Reserve, Pershing, stoke Locations: Wall, Silicon, Federal Reserve Bank of San Francisco

☆ Morning Bid: A sticky inflation situation
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +5 min

With a relentless set of rate hikes, the Federal Reserve has managed to drive consumer price increases down to 3%, from last June's 9.1%. The Atlanta Fed compiles an index of core sticky consumer prices - goods or services for which the cost changes far more slowly. Reuters GraphicsLine chart with data from the Bureau of Economic Analysis and Federal Reserve shows PCE inflation slowed to 3% year-on-year in June, while core PCE inflation also eased to 4.2%. Chart shows economists polled by Reuters expecting the U.S. consumer price index to have increased 0.2% in July 2023 from the previous month, the same pace as June 2023. * Federal Reserve Bank of Atlanta President Raphael Bostic gives welcome remarks at a webinar, 1500 EDT/1900 GMT.

Persons: Brendan McDermid, Amanda Cooper, they're, Mary Daly, Raphael Bostic, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, American Automobile Association, Federal Reserve Bank, Cleveland, Atlanta Fed, Reuters Graphics, Reuters, Federal Reserve Bank of San Francisco, Yahoo Finance, Federal Reserve Bank of Atlanta, Thomson Locations: New York City, U.S, Manheim

☆ The rising cost of shelter represented 90% of last month’s inflation
▼ + stars: | 2023-08-10 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

After steadily increasing, year-over-year shelter inflation has moved down for four consecutive months, from 8.2% in March to 7.7% in July. “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024,” the researchers wrote. Total inflation will go down when shelter inflation dropsCurrently, there is a disconnect between shelter inflation, which has remained higher, and other components of inflation that have fallen. For renters, shelter inflation includes rent and utility payments. The researchers at the San Francisco Fed crafted models combining several measures of local shelter and rent inflation to help explain how recent trends might affect the path of future shelter inflation.

Persons: San Francisco Fed, “, ” Organizations: DC CNN, Index, Federal Reserve Bank of San, Federal Reserve Bank of San Francisco . Housing, Housing, Federal, San Francisco, Bureau of Labor Statistics Locations: Washington, Federal Reserve Bank of San Francisco .

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