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Inflation Continues to Cool as Energy Prices Fall
  + stars: | 2023-11-30 | by ( Tim Smart | Nov. | At A.M. | ) www.usnews.com   time to read: +4 min
Both are yet another indication that inflation has moderated from its pace of last year when consumer inflation was running at a 9.1% annual rate. “After fears of "sticky" and "persistent" inflation, the month to month slowing in the core pce readings is encouraging. Core pce has risen by 0.3% or less for 8 consecutive months. Political Cartoons on Inflation View All 19 Images"This report hit the trifecta,” said Navy Federal Credit Union corporate economist Robert Frick. “During October, mortgage rates were at their highest, and contract signings for existing homes were at their lowest in more than 20 years,” said Lawrence Yun, NAR chief economist.
Persons: ” Kathy Jones, , Robert Frick, , Zumper, Lawrence Yun, Curt Long Organizations: Federal Reserve, pce, Schwab Center, Financial Research, Federal Credit Union, National Association of Realtors, NAR, Fed, Labor, National Association of Federal Credit Unions, Dow Jones Industrial Locations:
Local economies across the US are enjoying the boost brought by women's spending this summer. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. He also added that the pay gap between women and men is the narrowest it's ever been, especially among younger generations. Overall, Fortune estimated, the economy could benefit by about $3.1 trillion if women were afforded more opportunities and equity was increased. AdvertisementAdvertisementChevalier-Jordan said many women are in a good position to assume more power in spending as their rate of higher education completion rises.
Persons: Taylor Swift's, Forbes, , Swift, Curt Long, National Business Capital Brian Chevalier, Jordan, Chevalier, we've, Beyoncé, Taylor Swift Organizations: Service, National Association of, CNBC, National Business Capital, — Fortune, Fortune Locations: Wall, Silicon, Cincinnati , Ohio, Sweden
But with many credit unions struggling to attract deposits their CD terms are especially sweet right now, experts say. The upshot: Half of the top 12 CD rates on DepositAccounts.com, a site that aggregates banking rates, are offered by credit unions. Why credit unions have such high CD rates nowCredit unions frequently offer financial products with more attractive interest rates and lower fees than conventional banks. The best credit union CD ratesWith nearly 5,000 credit unions in the country, there are plenty of favorable CD and share certificate rates out there. The FDIC doesn’t cover credit unions, but a different agency, the National Credit Union Administration, or NCUA, provides a parallel level of protection.
Persons: Martha C, they’ve, They’re, you’re, , Dawit Kebede, Curt Long, branchless Organizations: Credit, Nonprofit, Credit Union National Association, National Association of, , don’t, Workers Credit Union, of, Financial, Association, Workers, Bellco, Bellco Foundation, Dow Credit Union, Dow Credit, Bank, Federal Deposit Insurance Corp, FDIC, National Credit Union Administration Locations: Silicon Valley, DepositAccounts.com, Central Massachusetts, Colorado
The U.S. personal savings rate remains below its historical average, according to the U.S. Bureau of Economic Analysis. The seasonally adjusted annual rate of personal saving was 4.6% in February. That's well below the average annual rate of more than 8%, according to the data, which traces back to 1959. Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists. Watch the video above to learn about how the personal savings rate affects you and the wider economy.
Higher pay has been needed to keep up with inflation. Wage growth, based on average hourly earnings, is up 4.6% from a year ago. watch now"People who switch jobs are much more likely to be getting a raise above inflation than people who are staying in their jobs," Zhao said. But with a possible economic downturn looming, workers seeking higher pay face a more complex decision as to whether to stay or go. With pay rates so competitive now, even some laid-off workers are finding higher offers than what they were earning before, according to Pollak.
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