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☆ Uber to acquire Foodpanda's Taiwan business for $950 million, creating a potential monopoly
▼ + stars: | 2024-05-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

(Photo by Walid Berrazeg/SOPA Images/LightRocket via Getty Images)Uber Technologies will acquire the Taiwan business of Delivery Hero -owned Foodpanda for $950 million in cash, as Foodpanda focuses on other markets. In a separate agreement, Delivery Hero will sell $300 million in newly issued ordinary shares to Uber. Taiwan's food delivery market is dominated by Foodpanda and Uber Eats. Delivery Hero said in February it had ended talks to sell its Foodpanda business in selected Southeast Asian markets. Östberg told CNBC the same month that the firm was "happy" to hold on to its Foodpanda business in Southeast Asia "forever."

Persons: Walid Berrazeg, Niklas Östberg, Pierre, Dimitri Gore, Uber, Foodpanda, Östberg, – CNBC's Ryan Browne, Dylan Butts Organizations: Getty, Technologies, Coty, Foodpanda, CNBC Locations: TAIPEI, TAIWAN, Taipei, Taiwan, Asia, Singapore, Malaysia, Thailand, Philippines, Hong Kong, Southeast Asia

☆ Prosecution seeks to land Trump hush money case as Cohen cross-examination looms
▼ + stars: | 2024-05-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

“This case is going to turn in large part on the cross-examination of Mr. Cohen. Cohen said that Trump told him: “Women are going to hate me. “This was all about the campaign.” Cohen also testified that Trump said he would not be on the market for long, implying he could get another wife quickly. Throughout his testimony, Cohen said he always kept Trump up to speed with his activities. “Everything required Mr. Trump’s sign-off,” he said, noting the Daniels payment was no exception.

Persons: CNN — “, Michael Cohen, Donald Trump’s, Cohen, Trump, ” Ryan Goodman, CNN’s Erin Burnett, ” Trump, Bernarda Villalona, “, Donald Trump, ”, “ Michael Cohen, David Schoen, ” Schoen, CNN’s Wolf, quagmire, Joe Biden, Judge Juan Merchan, Cohen –, –, Ohio Sen, J.D, Vance, Alabama Sen, Tommy Tuberville, mulls, “ What’s, Stormy Daniels, Susan Hoffinger, Hoffinger, Daniels, Daniels ’, —, ” Cohen, smirked, Trump’s, ’, ‘, reimbursements Cohen, Allen Weisselberg Organizations: CNN, Prosecutors, Republican, NYU Law, Trump, New, New York Times, Judge, Alabama, GOP, Ohio Republican, Trump Organization, White House Locations: New York, Siena, York, Ohio

☆ I moved back to the US from Switzerland when my daughter was 3. My suburban neighbors don't get the way I parent.
▼ + stars: | 2024-05-14 | by ( Chantal Panozzo | ) www.businessinsider.com time to read: +6 min

AdvertisementBut beyond the environmental consequences of the car line, something feels even more detrimental: American parenting culture. Related storiesInstead, I found that Swiss parenting basically boils down to a concept of benign neglect, where kids learn to manage themselves. Chantal PanozzoWhen I first moved to Switzerland, I was homesickMy husband and I moved to Switzerland in 2006 for a job opportunity. Daughter gone. AdvertisementAnd if that isn't a Swiss parenting win in an otherwise American world, then I don't know what is.

Persons: we'd, I've, it's, Chantal Panozzo, I'd Organizations: Service, Business Locations: Chicago, Switzerland, Swiss, Zurich

☆ Major US airlines really, really don't want to show you how much you'll pay in fees upfront
▼ + stars: | 2024-05-14 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Big US airlines are suing over a rule that requires upfront fee disclosures. The Biden administration is fighting "junk fees" across industries, including baggage fees. AdvertisementMajor US airlines sued the Department of Transportation on Friday over a rule that requires upfront fee disclosures for costs like baggage and itinerary changes. The Biden administration has made fighting the hidden costs it calls "junk fees" a priority across industries, from banks to event companies. The rule also requires airlines to inform passengers that they do not need to purchase a specific seat to travel and to include all mandatory fees when advertising fares.

Persons: Biden, — Organizations: Big, Service, Department of Transportation, Business

☆ These 3 ETFs have risen by double-digits every year for the past 5 years
▼ + stars: | 2024-05-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Two U.S.-listed ETFs — the SPDR S & P Metals & Mining ETF and VanEck Steel ETF — and the Japan-listed NEXT NOTES Japan Equity High Beta Select 30 ETF have each risen more than 10% every year since 2019. SPDR S & P Metals & Mining ETF The SPDR S & P Metals & Mining ETF (ticker: XME) gives investors broad exposure to the metals and mining segment. The VanEck fund has outperformed the S & P 500 in four of the past five years. NEXT NOTES Japan Equity High Beta Select 30 The NEXT NOTES Japan Equity High Beta Select 30 ETF (ticker: 2068.T-JP) is a smart beta ETF. High beta stocks react with more volatility than the rest of the market.

Persons: SPDR, It's Organizations: CNBC, P Metals, Mining, VanEck Steel, —, Japan, CNBC Pro, Mining ETF, VanEck, NEXT, Nomura Japan Equity Locations: U.S, Japan

☆ 14 analysts upgraded this global AI chip stock in the past 2 weeks
▼ + stars: | 2024-05-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

There's been so much love for one global chip stock that as many as 14 analysts upgraded it in the past two weeks. Based on a CNBC Pro FactSet screen, 14 analysts upgraded the stock in the past two weeks, and none downgraded it. Those covering the stock say they are optimistic in light of AI demand, among other factors. This "inefficiency" has been estimated to likely create an additional ~10% in equipment demand over time," Kim added. When it comes to AI, Kim also said that each large language model upgrade cycle requires roughly 100 times more in compute capacity upgrades.

Persons: There's, That's Taiwan's, Phelix Lee, Lee, Dan Kim, Kim, FactSet, TSMC Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, CNBC, Morningstar, Saturna Locations: U.S, China, Taiwan

☆ Hyper-luxury golf carts that you can drive on the road
▼ + stars: | 2024-05-13 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

But one Danish company is on a mission to put the art in golf cart. “When it came to the golf cart 18 years ago, they all looked the same – there weren’t any serious high-end products out there,” Lynge told CNN. You want something that’s sort of Lamborghini-shaped – very low and wide – but the golf cart is the exact opposite.”Tiger Woods rides a conventional golf cart at a tournament in 2005. Lynge took the prize ceremony event as an opportunity to pitch a dream that would be realized in 2016 – a Garia golf car inspired by Mercedes-Benz Style. “Really expensive … super exclusive, but also the coolest golf car you’ll ever see,” Lynge said.

Persons: Anders Lynge, Soren Bak Hansen, ” Lynge, Garia, Lynge, –, “, Woods, Jeff Gross, Mercedes, Lars Larsen, Lynges, ”, we’ve Organizations: CNN, Augusta National, Garia, Bentley, Lamborghini, Kussmaul, Mercedes, Benz, US, Lars Larsen Group Locations: Turnberry, Scotland, Copenhagen, German, Europe, €, London

☆ Careers site Indeed to lay off 1,000 workers
▼ + stars: | 2024-05-13 | by ( Dominick Reuter | Alyshia Hull | ) www.businessinsider.com time to read: +2 min

Careers site Indeed will lay off roughly 1,000 employees, or 8% of its workforce. In a memo, CEO Chris Hyams said the company is profitable, but not set up for sustainable growth. Hyams said the cuts are more targeted than last year's across-the-board reduction of 2,200 workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCareers site Indeed says it will lay off roughly 1,000 employees as it looks to simplify its organization.

Persons: Chris Hyams, Hyams, —, Mark Zuckerberg's, " Hyams Organizations: Service, Business, Market, Facebook, Meta

☆ Britain faces its 'most dangerous' years in history, PM Rishi Sunak to warn in pre-election bid
▼ + stars: | 2024-05-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

"I'm convinced that the next few years will be some of the most dangerous yet most transformational our country has ever known," he will add. Aides told the Guardian that Sunak has wanted to deliver the speech for some time. "I have bold ideas that can change our society for the better, and restore people's confidence and pride in our country." It is unclear exactly when Britons will head to the polls, but Sunak has indicated that a vote could be called in the autumn. By law, the next U.K. general election must be held no later than 28 January 2025.

Persons: Rishi Sunak, Sunak, I'm, Downing Organizations: Conservative Party, Sky News, CNBC, Guardian, Conservatives, Labour Party, Labour, Tories Locations: Britain, London

☆ The US Air Force is teaching AI to navigate aircraft in case GPS gets taken out in a future fight
▼ + stars: | 2024-05-13 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

In a future war, electronic warfare and anti-satellite weapons could leave the US military without GPS, a critical tool for navigation and targeting. That challenge has prompted the US Air Force to experiment with using artificial intelligence as an alternative navigation method. Related storiesA potential solution being developed by the US Air Force instead relies on AI for navigating in GPS-denied environments. The potential for AI to be used as an alternative to GPS navigation speaks to the growing concern around GPS denial in a future fight. AdvertisementAI creates new opportunities, and the Air Force's navigation alternative isn't the only project looking into how to integrate AI into military systems.

Persons: Col, Garry Floyd, Floyd Organizations: Service, GPS, US Air Force, Business, Department of Air Force, MIT, Intelligence, Associated Press, Air Force, AP, Pentagon, Air Locations: China, Russia, Ukraine, Geneva

☆ Looks like Masayoshi Son's plan to go all in on AI is starting to pay off for SoftBank
▼ + stars: | 2024-05-13 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

The Japanese billionaire's conglomerate posted a $1.5 billion profit for its latest quarter. The gains come off the back of its big bet on chip firm ARM, which is targeting AI opportunities. Arm Holdings CEO Rene Haas is seeking to capitalize on the AI boom. But as the appetite for ARM's AI activities show, SoftBank has room to grow in the face of the latest boom. If he's able to find the right bets, AI could pay off handsomely in the long term.

Persons: Masayoshi, —, It's, SoftBank, Rene Haas, Michael M, Yoshimitsu Goto, Son, WeWork, AI's Organizations: ARM, Service, Son, Nasdaq, Apple, Arm, Funds, Nvidia Locations: Tokyo, Cambridge, London, Alibaba

☆ An influencer got a $4,980 Gucci bag. Then, she intentionally tried to destroy it.
▼ + stars: | 2024-05-13 | by ( Amanda Krause | ) www.businessinsider.com time to read: +3 min

Read previewInfluencer Victoria Paris unboxed a shining new Gucci bag in a TikTok video on April 1. Nearly a month later, on April 30, she shared a video of herself throwing that same designer bag against wooden stairs. one person commented on a reposted clip of Paris throwing her bag. @andiwashington_ Charms on bags love love love ❤️ accessorize my vintage bag with me ♬ original sound - Andi Washington 🐬💗✨Then there's Mary-Kate and Ashley Olsen. AdvertisementTikTokers recently noticed that Hermès bags carried by the famous twins are far from pristine.

Persons: —, Olsen, Jane Birkining, Jackie, TikTokers, Paris, I'm, Jane Birkin, Birkin, Jean, Louis Dumas, Jun Sato, Gucci, Andi Washington 🐬💗 Organizations: Service, Paris, Business Locations: Paris

☆ Robert Menendez’s Trial Is Set to Begin, With a Sprawling Web of Charges
▼ + stars: | 2024-05-13 | by ( Tracey Tully | Benjamin Weiser | ) www.nytimes.com time to read: +1 min

Jury selection for Senator Robert Menendez’s corruption trial starts on Monday in a federal courthouse in Manhattan, a 20-mile drive from Mr. Menendez’s home in northern New Jersey, where for decades he has been a well-known Democratic political leader. His efforts to move the trial to his home turf failed. Jurors picked to decide the case will be from Manhattan, the Bronx or one of several New York counties north of the city. Mr. Menendez, 70, will be tried with two New Jersey businessmen, Fred Daibes and Wael Hana. His wife, Nadine Menendez, 57, was also charged in the bribery scheme but will be tried separately, in July.

Persons: Robert Menendez’s, Menendez’s, Menendez, Fred Daibes, Wael Hana, Nadine Menendez Organizations: Democratic, Prosecutors, U.S, Southern, of Locations: Manhattan, New Jersey, Bronx, New York, of New York, Qatari, Jersey

☆ OpenAI unveils newest AI model, GPT-4o
▼ + stars: | 2024-05-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched just over a year ago. Rivals including Google and Meta have been working to build increasingly powerful large language models that power chatbots and can be used to bring AI technology to various other products. The OpenAI event came one day ahead of Google’s annual I/O developer conference, at which it’s expected to announce updates to its Gemini AI model. OpenAI executives demonstrate the company's latest large language model, GPT-4o. Free ChatGPT users will have a limited number of interactions with the new GPT-4o model before the tool automatically reverts to relying on the old GPT-3.5 model; paid users will have access to a greater number of messages with the latest model.

Persons: OpenAI, Mira Murati, ” Murati, ChatGPT, “ You’re, Scarlett Johansson, ”, Sam Altman, it’s Organizations: New, New York CNN, Monday, San, Rivals, Google, Gemini, Apple, Worldwide Developers Conference, Microsoft Locations: New York, ChatGPT, San Francisco

☆ Early Facebook investor Accel raises $650 million fund to back European and Israeli startups
▼ + stars: | 2024-05-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

AccelVenture capital firm Accel said Tuesday it's raised $650 million for its eighth fund targeted at investing in European and Israeli early-stage startups, in a sign the venture capital market may be showing signs of a recovery. "The environment has dramatically changed since then," Nelis told CNBC. Climate-focused VC firm World Fund closed a 300 million euro fund in March. "We're lucky that with DeepMind here in London and with Fair [Facebook AI Research] in Paris, there's at least two big centers that have great AI expertise," Nelis told CNBC. "My expectation is Europe is going to generate some really interesting AI application companies," Nelis told CNBC.

Persons: Harry Nelis, Sonali de Rycker, Andrei Brasoveanu, Luca Bocchio, Philippe Botteri, it's, Nelis, UiPath, Russia's, Wise, Magnus Grimeland, Grimeland, there's, Victor Riparbelli, Synthesia, Riparbelli Organizations: Accel, Accel Venture, Spotify, CNBC, Skype, U.S, Nvidia Locations: Europe, Israel, Lithuania, Romania, Ukraine, New York, U.S, London, Paris, Synthesia

☆ Meet the students stacking internships and battling each other to get a foot in Goldman Sachs' and JPMorgan's doors
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +8 min

All this, the business administration student says, is part of his quest to land a job with a big bank like Goldman Sachs or JPMorgan. Advertisement"I have to grind a lot for academics and then do internships on top of that," Loh said. Many Singapore students have adopted a similar playbook to Loh's, padding their résumés with stacks of internships in the hopes of landing a spot at a top bank. AdvertisementHussain ended up doing five internships throughout his college career, including stints at a hedge fund and a private bank. Tan is slated to join a top European bank as an investment banking analyst this summer.

Persons: —, Channon Loh, he's, Loh, Goldman Sachs, Mike Kemp, Eric Sim, Sim, It's, Adnan Hussain, Hussain, Adnan Hussain Adnan Hussain, you'll, Nicholas Tan, Tan, Duo Geng Goh, Goh, it's, Chi Ang, gunning, Ang, Adrian Choo, Choo Organizations: Service, National University of Singapore, NUS, JPMorgan, Business, Getty, Goldman, Harvard, Crazy Rich, UBS Investment Bank, BI, Singapore Management University, SMU, Students, Banking Locations: Singapore, Crazy

☆ I traveled beyond the Arctic Circle to see the Northern Lights. Here are 4 things to know before you go.
▼ + stars: | 2024-05-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Read previewIn February, I finally checked off one of my top bucket list items — seeing the aurora borealis, better known as the northern lights. I journeyed all the way to Finland's northernmost municipality, Utsjoki, about 280 miles north of the Arctic Circle. Location, location, locationWhile recent environmental phenomena have made the northern lights visible in places as far south as England and Denmark, the aurora borealis are best viewed within the Article Circle. AdvertisementThe vibrant colors that appear in photos are not what humans seeNot every color of the northern auroras is visible to the naked eye. "The lights are there, but if it is super cloudy — we can't, of course, see them," Tiina told me.

Persons: —, Tiina, Taylor Rains, Tiina Salonen, Utsjoki, it's, Nature Organizations: Service, Business, Finnair, Disney Locations: Utsjoki, New York, Ivalo, Finland, Helsinki, Lapland, Aurora, Norway, —, England, Denmark, Fairbanks , Alaska, Tromsø, Territories, Sweden, Ilulissat, Greenland, Antarctica, Kathmandu

☆ I'm an American and lived in the Netherlands for 4 years. Subsidized childcare allowed me to start my own company.
▼ + stars: | 2024-05-13 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +5 min

In 2016, when I was seven months pregnant and my oldest son was 6, we moved to the Netherlands for my husband's work. During my time there, I noticed several differences between raising a family in the Netherlands and in the United States. Most parents would say "don't parent my child" or "don't tell me how to parent my child". Childcare is subsidizedSince childcare is subsidized in the Netherlands, I was able to start my own circular children's clothing company even while raising young children. AdvertisementWhen we were in the Netherlands, they didn't really start reading until 7 years old.

Persons: weren't, we've, haven't Organizations: Service, Business, Washington DC Locations: Philadelphia, Netherlands, United States, —, America, Washington

☆ Jim Cramer sees more room for Honeywell to climb as the stock shakes off rough start to 2024
▼ + stars: | 2024-05-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There was largely an "absence of news" last week, Jim Cramer noted, and yet stocks were still able to advance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jim, OpenAI, Vimal Kapur, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Nasdaq, Apple, Bloomberg News, Developers Conference, Honeywell International, Club, Honeywell, AAPL

☆ An engineer landed jobs at Google and Microsoft with this 2-page résumé — and describes the section she considers a non-negotiable
▼ + stars: | 2024-05-13 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

She landed a job as a software engineer at Amazon straight out of her master's degree in computer science. After five years at Amazon, Pandey wanted to try working at other FAANG companies and applied to Microsoft and Google in 2021. Related storiesShe shared the résumé that helped her land an offer at Microsoft as well as the one she accepted at Google, a customer engineering position. AdvertisementPandey's 2021 résumé landed her roles at Google and Microsoft. Sonakshi PandeyLooking back on her 2021 résumé, Pandey said that there are two unique things about the document that worked in her favor.

Persons: —, Pandey, résumé, Sonakshi Pandey Organizations: Service, Amazon, Business, Amazon Web Services, Microsoft, Google, YouTube Locations: Seattle

☆ US politicians aren’t prepared for the AI revolution. That’s bad for the economy
▼ + stars: | 2024-05-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Now look at AI, we’re going to have that same disruption except it’s going to be much faster. We really need to rethink how we manage change. There are many communities and many groups of individuals who don’t really feel like contemporary capitalism is serving them well. If I said, “I’m going to have a block grant for communities. I’m going to boost community colleges,” why is that bad?

Persons: Columbia Business School Glenn Hubbard, Bell, Hubbard, they’ve, that’s, it’s, That’s, I’m, don’t, we’re, “ I’m Organizations: CNN Business, Bell, New York CNN, Columbia Business School, Biden Locations: New York, United States

☆ AI hype is lifting these dividend payers. These names may actually benefit, Wells Fargo says
▼ + stars: | 2024-05-13 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

The growth of AI data centers could drive as much as 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. That's where natural gas enters the picture, as tech companies look for power that can back up their use of renewable energy sources. "And that doesn't include the anticipated substantial increase in gas demand from power associated with AI and data centers," she added. Williams is rated a hold by about 56% of the analysts covering the stock, per LSEG, including Wells Fargo. TC Energy is another name that Wells Fargo highlighted as a beneficiary from the data center trend.

Persons: Kinder Morgan, Kimberly Dang, Michael Blum, Williams Cos, Blum, Williams, Wells, Stanley Chapman, Chapman Organizations: Wells, TC Energy, Canadian Locations: Wells Fargo, U.S, That's, Mexico, Wells, Virginia

☆ New Rules to Overhaul Electric Grids Could Boost Wind and Solar Power
▼ + stars: | 2024-05-13 | by ( Brad Plumer | ) www.nytimes.com time to read: +1 min

Federal regulators on Monday approved sweeping changes to how America’s electric grids are planned and funded, in a move that supporters hope could spur thousands of miles of new high-voltage power lines and make it easier to add more wind and solar energy. The new rule by the Federal Energy Regulatory Commission, which oversees interstate electricity transmission, is the most significant attempt in years to upgrade and expand the country’s creaking electricity network. A big reason for the slow pace of grid expansion is that operators rarely plan for the long term, the commission said. The nation’s three main electric grids are overseen by a patchwork of utilities and regional grid operators that mainly focus on ensuring the reliability of electricity to homes and businesses. When it comes to building new transmission lines, grid operators tend to be reactive, responding after a wind-farm developer asks to connect to the existing network or once a reliability problem is spotted.

Organizations: Federal Energy Regulatory Commission

☆ Walmart CEO Doug McMillon shares 3 tips for success in work and life
▼ + stars: | 2024-05-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewWalmart CEO Doug McMillon returned this weekend to his alma mater, the University of Arkansas, where he delivered the commencement address to the class of 2024. McMillon also revealed how some plans didn't work out — like being rejected from the top MBA programs — and how a mistake could have ended his career before it began. I'm wired to think more about what's coming next than the moment right in front of me. AdvertisementMy second piece of advice is to pursue a career that does not feel like work. If you're in the right place, most days, work won't even feel like work.

Persons: —, Doug McMillon, McMillon, Doug McMillon's, I've, Jim Webster, Jim, Wharton, Shelly, they're, Sam Walton's, Helen, it's, you've, Benny Bridwell, Benny, Bryan Adams Organizations: Service, University of Arkansas, Business, Harvard, Stanford, Walmart Locations: Arkansas, USA, South Africa, Rogers

☆ Why America Still Can't Get Rid of High Prices, Inflation
▼ + stars: | 2024-05-13 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.

Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real

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