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☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

(AP) — The Chiefs' Travis Kelce and the 49ers' George Kittle are best of friends when they are off the field. The king of Tight End U,” Kelce said of Kittle, when asked about their relationship. “He's the best tight end in the league and deservingly so this year. Kittle had two more catches in the NFC title game against Detroit to set up his rematch with Kelce and the Chiefs. “I couldn't be more proud of him,” Kelce said, “couldn't be more honored, really, to go up against George in another Super Bowl.

Persons: Travis Kelce, George Kittle, Greg Olsen, that's, ” Kelce, Kittle, “, He's, Taylor Swift, Kelce, Jerry Rice, Patrick Mahomes, ”, Fred Warner, “ Pat, it's, John Lynch, marveled, Jerry Rice’s, ” Lynch, Jerry, he’s, Andy, Reid, ‘ You’ve, You’ve, San, hasn't, George, It's Organizations: KANSAS CITY, —, Chiefs, 49ers, University, San Francisco, Kansas City, Super, Miami, AFC, Ravens, longtime 49ers, NFL, Packers, NFC, Detroit Locations: KANSAS, Mo, San Francisco, Las Vegas, Buffalo, Baltimore, Kansas, ” San Francisco, Miami

☆ Fed meeting walkup: Chair Powell expected to announce rates will hold steady
▼ + stars: | 2024-01-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington, DC CNN —The Federal Reserve is widely expected to hold interest rates steady Wednesday for the fourth consecutive meeting, leaving them at a 23-year high as policymakers likely discuss the timing of rate cuts. That’s because, if inflation drifts lower but interest rates remain elevated, it causes “real” interest rates to rise, unnecessarily squeezing the economy and risking job losses. A rapidly weakening economy threatening mass job losses is an obvious reason to cut rates, which most economists aren’t currently forecasting. But another concern that has gained some traction is the rise of inflation-adjusted interest rates, which is an argument for rate cuts. The Fed is set to announce its latest policy decision at 2 pm ET on Wednesday, followed by a press conference from Chair Powell at 2:30 pm ET.

Persons: Jerome Powell’s, —, ” Sarah House, “, ”, Christopher Waller, it’s, Mary Daly, they’re, aren’t, Austan Goolsbee, Subadra Rajappa, Générale, Powell Organizations: DC CNN, Federal Reserve, Fed, CNN, ” San Francisco Fed, Fox Business, Chicago Fed, CNBC, PCE, Labor Department Locations: Washington, Wells, ” San

The San Francisco 49ers finally climbed back up the playoff mountain to return to the Super Bowl only to find a familiar foe waiting for them. When the Niners get a second shot at a Super Bowl against the Kansas City Chiefs it will be a rare title game rematch in this short of a span. Here's a look at the other times there was a Super Bowl rematch within five seasons of the first meeting. COWBOYS vs. BILLSDallas and Buffalo had the only Super Bowl rematch in consecutive seasons, meeting at the end of the 1992 and 1993 campaigns. Pittsburgh won again three years later in the first Super Bowl rematch ever to deny Dallas back-to-back championships.

Persons: Nick Bosa, Patrick Mahomes, They’re, Mahomes, Andy Reid, “, ”, Kyle Shanahan, “ They’ve, Bosa, Deebo Samuel, George Kittle, Fred Warner, Dre Greenlaw, Arik Armstead, Kyle Juszczyk, Mitch Wishnowsky, Travis Kelce, Chris Jones, Harrison Butker, Mecole Hardman, James Winchester, Nick Allegretti, Blake Bell, San Francisco, Charvarius Ward, Ross Dwelley, Richie Hames, Derrick Nnadi, Austin Reiter, Mike Pennel, PATRIOTS Eli Manning, Tom Brady, Randy Moss, Manning, David Tyree's, Plaxico, Troy Aikman, James Washington, Emmitt Smith, Lynn Swann, Dallas, Terry Bradshaw, Jackie Smith, Roger Staubach's, ___ Organizations: San Francisco 49ers, Super, Niners, Kansas City Chiefs, 49ers, Chiefs, Kansas City, GIANTS, PATRIOTS, Giants, The Patriots, Dolphins, COWBOYS, The Cowboys, STEELERS, COWBOYS The Cowboys, Steelers, Dallas, Minnesota, Rams, Steel, Pittsburgh, Super Bowl Locations: Miami, ” San Francisco, San, New York, New England, Dallas, Buffalo

☆ Driver who crashed into Chinese consulate in San Francisco tried to stab a responding officer before being fatally shot, police say
▼ + stars: | 2023-10-20 | by ( Veronica Miracle Aya Elamroussi | Veronica Miracle | Aya Elamroussi | ) edition.cnn.com time to read: +4 min

On Thursday, the San Francisco Police Department held a town hall where it addressed details about how the attack on the consulate unfolded. Before officers arrived on the scene, consulate security guards used pepper spray on Yang, police said. Released evidence photos show the crossbow and arrows in the back seat of the crashed car, though a motive remains unclear. According to released 911 calls, witnesses said there were roughly 30 people in the lobby when a car crashed into the consulate building. Last week, the Consulate General of China in San Francisco said in a statement the crash caused “serious damage” and put people in a life-threatening situation.

Persons: Zhanyuan Yang, Mr, Yang, ”, Mark Im, “ Mr, Sergii Molchanov, Sergii, Molchanov, ” Molchanov, Bill Scott Organizations: CNN, Honda, San Francisco Police, San Francisco Police Department, ” San Francisco Police, Police, Chinese Communist Party Locations: San Francisco, People’s Republic of China, China, Yang’s

☆ Fed Chair Powell to deliver remarks during uncertain moment for the US economy
▼ + stars: | 2023-10-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is set to deliver remarks during a moderated discussion hosted by the Economic Club of New York at 12 pm ET on Thursday. The yield on the benchmark 10-year US Treasury note reached its highest level since 2007 on Wednesday, while 30-year Treasury yields breached the 5% mark. That’s a welcome development for the Fed, but officials aren’t quite yet ready to declare victory. Inflation is still above the Fed’s 2% target, and officials have said they need to see further evidence of the economy cooling. Employers added a robust 336,000 jobs in September, while the unemployment rate held at a low 3.8% that month.

Persons: Jerome Powell, Philip Jefferson, That’s, ”, Mary Daly Organizations: DC CNN — Federal, Economic, of New, Treasury, ” San Francisco Fed, Traders, Commerce Department Locations: Washington, of New York, June’s, ” San, Israel

☆ Stores are leaving San Francisco. Ikea is opening this week
▼ + stars: | 2023-08-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Ikea is opening a new store in downtown San Francisco Wednesday, bucking the trend of retailers closing in the city. Ikea is opening a new store this week in downtown San Francisco at 945 Market Street. While violent crime statistics in San Francisco have remained relatively low in recent years, property crimes have risen since 2020, according to San Francisco Police Department data. Activity this spring in downtown San Francisco, as measured by mobile phone use, was 68% below its pre-pandemic levels, the largest decline of any US city. In June, shopping mall operator Westfield announced it would give up control of its San Francisco mall, citing “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”A month earlier, Nordstrom, one of the biggest retailers in Westfield, said it would shutter both of its San Francisco stores.

Persons: San Francisco Mayor London Breed, Nordstrom, San Organizations: New, New York CNN, Ikea, Shoppers, IKEA, San Francisco Mayor London, San Francisco Police Department, Westfield Locations: New York, San Francisco, San, San Francisco’s Union, Westfield, Francisco

☆ From inflation to mortgages: What last week’s data says about the economy
▼ + stars: | 2023-07-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

The Fed’s preferred gauge of inflation, the Personal Consumption Expenditures index, showed that inflation was double the target in May (more on inflation shortly). Wednesday’s Consumer Price Index showed that annual inflation slowed from 4% to 3% in June, the lowest level since March 2021. Then on Thursday came Producer Price Index data, which measures the average change in prices that businesses pay to suppliers. That data showed annual wholesale inflation cooled last month to the lowest level in nearly three years. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs,” she wrote.

Persons: Michael Scott, Price, ”, Mary Daly, “ It’s, Alicia Wallace, Freddie Mac, Jamie Dimon, JPMorgan Chase, can’t, Dimon, “, — CNN’s Bryan Mena, Matt Egan Organizations: New, New York CNN, Reserve, ” San Francisco Federal Reserve Bank, University of Michigan, JPMorgan, CNN Locations: New York, ” San Francisco

☆ The number of small firms raising prices fell to the lowest level since March 2021
▼ + stars: | 2023-07-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The number of small businesses saying they raised their prices fell in June to its lowest level since March 2021, according to a survey released Tuesday by the National Federation of Independent Business. The share of respondents who reported higher prices dropped by three points last month to 29%, “still a very inflationary level but trending down,” the report showed. “Inflation and labor shortages continue to be great challenges for small businesses,” said the NFIB’s chief economist Bill Dunkelberg in a release. The current tight labor market has been keeping pressure on employers to raise prices to protect their margins — a dynamic that Fed Chair Jerome Powell discussed in recent remarks. The impact of improving supply chainsThe economy has slowed from its red-hot pace after rebounding from the pandemic, but some dynamics that prompted businesses to raise prices have been slowly unwinding.

Persons: “, Kieran Clancy, ”, Bill Dunkelberg, Jerome Powell, Mary Daly Organizations: DC CNN, National Federation of Independent Business, Pantheon, Federal Reserve, Fed, Research, San Francisco Fed Locations: Washington, San

CNN —Nima Momeni, the man accused of killing Cash App founder Bob Lee in San Francisco, intends to plead not guilty next week, his attorney said. “We believe that we have sufficient evidence to prove beyond a reasonable doubt that Mr. Momeni murdered Bob Lee,” Jenkins said. Alleged conversations between Lee and MomeniBob Lee cofounded the mobile payment service provider Cash App. Lee had told Momeni nothing inappropriate happened, according to the document. “Momeni forcefully grabbed her right upper arm and her right side waist area,” Officer Johnson wrote in the report, according to the Chronicle.

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