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☆ Wendy’s says it won’t use surge pricing
▼ + stars: | 2024-02-28 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

It was never our plan to raise prices when customers are visiting us the most.”But the questions over what to call Wendy’s experiment – surge pricing? Dynamic pricing? Surge pricing refers to dynamic pricing, which is a way for businesses to charge more (or less) based on how many people want their products at any given time. “Surge pricing sent the message to everybody that this is mostly about increasing prices. “After considerable public pushback, Wendy’s is now framing their dynamic pricing strategy as discounts during off-peak times instead of surge pricing during peak times,” she wrote.

Persons: CNN —, Wendy’s, ”, Juan Castillo, Castillo, Chuck Bell, Uber, Mario Tama, ” Bell, ” Castillo, Jonathan Maze, ” Maze, Lindsay Owens, “ Organizations: CNN, University of Pennsylvania, “, Consumer, Los Angeles International Airport, Ticketmaster Locations: Los Angeles , California

The Fed last week raised its policy rate to the 5.25%-5.50% range, the 11th increase in the last 12 meetings. Core inflation is still pretty elevated," Powell said in a press conference after the end of the Fed's two-day policy meeting. We think we're going to need to hold policy at restrictive levels for some time. The Fed's policy rate influences the economy by changing what lenders charge consumers for credit card, auto, and home loans or what businesses pay on bonds or for credit lines. "Given that inflation is still sticky, they're going to end up with rates either too high or as high as they are for too long.

Persons: Antulio Bomfim, Bomfim, what's, Jerome Powell, Powell, Lindsay Owens, Thomas Simons, Howard Schneider, Dan Burns, Paul Simao Organizations: Trust Asset Management, Fed, Reuters Graphics Reuters, STAR, North Star, Open, Jefferies, Thomson Locations: U.S

Administration officials believe the U.S., the world's largest oil consumer and global economy have entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. Oil prices slipped on Thursday as the prospect of a possible recession in the US offset concerns of tight supply. Slowing economy or not, the OPEC move could still complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

Administration officials believe the U.S. and global economy has now entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. The OPEC move could complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. The recent U.S. banking crisis has added another layer of uncertainty to global and U.S. forecasts as well, forecasters warn. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

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