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New York CNN —Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot. But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties. It’s all relativeGlynn Tonsor, a professor in the department of agriculture economics at Kansas State University suggests that if you zoom out, pork prices are indeed going up across the board. But prices for ham actually went up higher than the prices of bacon and pork chops. Scott Olson/Getty Images/FilePeople love baconAnother reason for high bacon prices: Strong demand, even when it’s expensive.
Persons: Bacon, Glynn Tonsor, ” Tonsor, Scott Olson, , Christine McCracken, They’re, you’ll, It’s, McCracken, “ You’ll Organizations: New, New York CNN, Shoppers, Bureau of Labor Statistics, Kansas State University, Federal Reserve, St, RaboBank, Retailers, KFC, Starbucks Locations: New York, Louis, Mexico, , Chicago , Illinois, Burger King
A recent Wall Street Journal poll of American voters in swing states found that while people think the national economy is in bad shape, they feel good about their personal finances. In Gallup polling from last April, just 16% rated the economy as “good” or “excellent,” but 45% said their personal finances were “good” or “excellent.”But according to available data the economy has improved. But the dichotomy between how people feel about their own finances and the economy at large presents a different conundrum. It’s important to look at consumer behavior and not just sentiment when determining how Americans feel about the economy, said Harris. Those behaviors signal that Americans, overall, actually feel pretty good about their economy.
Persons: New York CNN — Nathan Frederiksen, , , ” Frederiksen, It’s, “ We’ve, I’ve, ” He’s, , Wisconsin —, Joe Biden, Ben Harris, else’s, ” Harris, Harris, Jonathon Barricklow, Barricklow, we’d, Dave Koloskee, he’ll, Megan McCoy, we’re, ” McCoy, Julie Levitch, Suze Orman, she’s, I’m, ’ ”, , they’re Organizations: New, New York CNN, CNN, Gallup, Economic, Brookings, Bureau of Labor Statistics, Facebook, Kansas State University, , Finance, LinkedIn Locations: New York, Boise , Idaho, Arizona, Georgia, Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, it’s, United States, Bowling Green , Ohio, East, Europe, Erie , Pennsylvania, Scottsdale , Arizona
AdvertisementWhile teachers, students, and parents have all tried their best to make it work, many students still end up with huge learning gaps. Teacher shortages tend to be framed as a workplace problem: We just need to incentivize and support teachers better. AdvertisementWhen teacher shortages compound, some students just stop showing up. Even before COVID, students struggled to remember concepts they learned in a previous course — but the teacher shortages have exacerbated the problem. If America doesn't address its teacher shortages today, it will be left with a worse, less educated tomorrow.
Persons: STAFF04201, I've, bode, Sarah, Richard Ingersoll, Ingersoll Organizations: Kansas State University, US Bureau of Labor Statistics, Progress, Organization, Economic Cooperation, Development, US, America, Harvard University Center for Education Policy Research, Stanford University, Brookings Institution, National Center for Education Statistics, University of Pennsylvania Graduate School of Education, Vogue, The New York Times, The New Orleans Times Locations: New Orleans, , Spanish, Rome, Orleans, Louisiana
Americans are eating less pork than they are beef and chicken, researchers say. Demand for pork in United States is down 9% from 20 years ago. Pork supply, meanwhile, is up 25% at the same time, leaving producers scrambling. Demand for pork in the United States is down 9% from 20 years ago, researchers from Kansas State University estimate, according to The Wall Street Journal. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Kansas State University, Wall Street, National Pork Board, Business Locations: United States
He also found four poems written by Flora Fairfield, a known pseudonym of Alcott's. As he scrolled through digitized newspapers from the American Antiquarian Society, he found a story titled “The Phantom." I’m interested in gathering more of it.”When first contacted by Chapnick about the writings, Gregory Eiselein, president of the Louisa May Alcott Society, said he was curious but skeptical. This isn't the first time that scholars have found stories written by Alcott under a pseudonym. In the 1940s, Leona Rostenberg and Madeleine Stern found thrillers written under the name A. M. Barnard was an Alcott pseudonym.
Persons: Max Chapnick, Louisa May Alcott, Gould, Charles Dickens, Flora, Alcott's, , she’s, she’s hustling, ” Chapnick, ” Alcott, , — Meg, Jo, Beth, Amy —, Greta Gerwig, Chapnick, Alcott, Gould —, I’m, Gregory Eiselein, I’ve, Louisa Alcott, ” Eiselein, Anne Phillips, “ Alcott, ” There’s, Leona Rostenberg, Madeleine Stern, Barnard, didn’t, We’re, ” Elizabeth Pope, “ We’re Organizations: , Northeastern University, American Antiquarian Society, “ Little, Boston Public Library, Louisa May Alcott Society, Kansas State University, Kansas State, American Locations: WORCESTER, Massachusetts, Concord , Massachusetts, Flora Fairfield, Worcester, Olive
How to Prepare Every Part of Your Life for a Recession
  + stars: | 2023-10-16 | by ( Tanza Loudenback | ) www.wsj.com   time to read: +13 min
But a recession brings other threats too, like the potential for major stock market swings that can derail financial goals. As soon as the line begins to tick upward again, the economy exits a recession and enters an expansion. Are we in a recession or is a recession coming? How to preparePreparing your finances for a recession isn’t all that different from practicing good money habits in your daily life. You’ll likely have to make some real-time adjustments to meet short-term goals while enduring a recession, McCoy says.
Persons: Loudenback, it’s, , Ross Hamilton, Raymond James, you’ve, Hamilton, aren’t, “ You’ve, Eric Roberge, ” Roberge, Megan McCoy, , ’ ”, McCoy, You’ll, ” Hamilton, you’re, “ There’s, there’s, ” McCoy, Roberge, ‘ I’ve Organizations: Wall Street, National Bureau of Economic Research, Kansas State University Locations: U.S, Bethesda, Md, Boston, Hamilton
Kip Turner joined AT&T when he was 18 years old without a bachelors degree and learned everything for his engineering career on-the-job. In the summer of 1973, Turner drove to Little Rock for an interview and joined AT&T as a station installer. Turner joined AT&T without a bachelor's degree and has learned everything on the job. Kip Turner, 68, joined AT&T shortly after high school and has been with the company his entire 50-year career. "I would have loved to have completed an engineering degree," he says.
Persons: Kip Turner, he'd, Turner, he's Organizations: AT, Arkansas State University, Southwestern Bell Telephone, Little, CNBC, T, Notre Dame, University of Oklahoma, Champlain College , North, & $, & $ Locations: Champlain College , North Carolina
The challenges are part of a growing campaign against diversity initiatives after a U.S. Supreme Court landmark ruling in June outlawed use of race in college admissions, commonly known as affirmative action. A departmental spokesperson said the office for civil rights does not discuss details of its cases. But you can't do it through racial discrimination, and the Supreme Court has been very clear about that." On Tuesday, the organization that won the Supreme Court case, Students for Fair Admissions, filed a new lawsuit challenging affirmative action admission practices at the U.S. Military Academy at West Point. The Supreme Court had exempted military academies from its June decision, saying in a footnote that these schools might have "distinct" interests.
Persons: Evelyn Hockstein, William Jacobson, Jacobson, Evan Caminker, Joseph Ax, Colleen Jenkins, David Gregorio Our Organizations: U.S, Supreme, Harvard University, University of North, REUTERS, Conservative, Cornell University, U.S . Department, Western Kentucky University, Kansas State University, University of Nebraska, Education Trust, Democratic, Belmont University, The University of Missouri, Republican, University of Michigan, The, Harvard, Fair, U.S . Military Academy, West, Thomson Locations: University of North Carolina, Washington , U.S, Lincoln, American, Missouri
Will Americans toss out President Joe Biden for being too old and see Vice President Kamala Harris as a worse option? "The indictments of Donald Trump have not boosted him in the polls, either for favorability or for his support in the GOP primary. The impact of Biden's age and Vice President Kamala Harris' presence on the ticket has also been misrepresented, pollsters say. The Biden-Harris campaign is sending the vice president to speak at college campuses in the coming months. "I do think that having Vice President Harris is a net plus for the ticket," says youth voting activist Victor Shi, a Biden 2020 delegate.
Persons: Donald Trump's, Joe Biden, Kamala Harris, Biden, Trump, Charles Franklin, Franklin, Donald Trump, Trump's, Ron DeSantis, DeSantis, pollster Ben Lazarus, Lazarus, that's, , Robert F, Kennedy Jr, Marianne Williamson, Nate Birkhead, Birkhead, Harris, Newt Gingrich, Harris –, Victor Shi, Biden's, Shi, it's, Laura Kelly, Kelly, YouGov, Dobbs Organizations: Trump, Republican, Democratic, Marquette Law School, GOP, District of, Florida Gov, Pew Research Center, Donald Trump View, Biden, CBS, Kansas State University, Democratic Gov, Gallup, Republicans Locations: Wisconsin, New York, Florida, District, District of Columbia, Georgia’s Fulton County, Trump, United States, Ukraine, Russia, American, Kansas
AQUIFERS AQUIFERS AQUIFERS WASH. MAINE MONT. MONITORING WELLS MONITORING WELLS MONITORING WELLS WASH. MAINE MONT. FLA. DECLINING WELLS DECLINING WELLS DECLINING WELLS WASH. MAINE MONT. FLA. UNCHARTED WATERS America Is Using Up Its Groundwater Like There’s No Tomorrow Overuse is draining and damaging aquifers nationwide, a New York Times data investigation revealed. Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Note: Colors depict the median trend for each site over the previous 20 years.
Persons: CONN, WELLS, Rebecca Noble, breadbasket, overpumping, ” Don Cline, There’s, Christopher Neel, Loren Elliott, Mr, Neel, they’re, , Bridget Scanlon, Ashraf Rateb, Warigia Bowman, ” Rebecca Noble, Farrin Watt, what’s, Brownie Wilson, Wilson, Watt, Bill Golden, , Fayetteville ARKANSAS Little Rock Texarkana Ayden Massey, Kevin Rein, haven’t, Rein, ’ ”, Charles County, Jason Groth, “ It’s, Saturday, Groth, CHARLES COUNTY, MARYLAND CHARLES, CHARLES COUNTY David Abrams, they’ve, homebuyers, Susan Asmus, ” Ms, Asmus, Upmanu Lall, Angelo Fernández Hernández, Biden, Ron Wyden, Wyden, Courtney Briggs, Overpumping, Cline, Dan Dubois, Ryan Smith, Smith, Bill Keach, Ann Tihansky, Joseph Cook, Rob Dotson, Enoch, ” Mr, Dotson, Claire O'Neill, Matt McCann, Umi Syam.Edited, Jesse Pesta, Douglas Alteen Organizations: ALA, MISS, IOWA NEB, N.J . OHIO NEV, DEL, UTAH W.VA, MAINE, New York Times, America, The Times, The New York Times, Hamptons, United States Geological Survey, Times, NEV . OHIO DEL, Oklahoma Water Resources Board, Jet Propulsion Laboratory, NASA, University of Texas, Oklahoma and, University of Tulsa, Groundwater Monitoring, Kansas, Wichita, Management, Livestock, Kansas Geological Survey, Kansas State University, Arkansas Department of State, Fayetteville ARKANSAS Little Rock, Fayetteville ARKANSAS Little Rock Texarkana, Arkansas Department of Agriculture, Colorado, Maryland Department of, U.S . Geological Survey, Environmental Protection Agency, ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells, Arizona Department of Water, National Association of Home Builders, Columbia Water Center, Columbia University, Democrat, Mr, Power, American Farm Bureau Federation, . Geological Survey, The Suffolk County Water Authority, Queens, Stanford, Colorado State University, Arizona Geological Survey, University of Arizona, The New York Locations: MAINE, MINN, VT, N.H . IDAHO S.D, N.Y, WIS, WYO, PA, IOWA, NEV . OHIO, UTAH, COLO . CALIF . VA, KAN . MO, KY, N.C, TENN, OKLA, ., MISS . TEXAS LA, FLA, N.H . IDAHO, R.I . PA, N.J . OHIO, N.D, N.J, ARIZ, WELLS, MONT, WELLS MAINE MONT, United States, Mississippi, Illinois, America, The, The New York Times States, Kansas, New York State, American, Phoenix, Utah , California, Texas, N.J . IOWA, CONN, Texas , Oklahoma, Colorado, Oklahoma, California, Arizona, Austin, Oklahoma and Texas, Wichita County, Western Kansas, Ogallala, Kansas City Topeka KANSAS Wichita, KANSAS, In Arkansas, Arkansas, Fayetteville, Fayetteville ARKANSAS Little Rock Texarkana, ARKANSAS, Maryland, Charles, Washington, Baltimore MARYLAND Washington, Baltimore Washington, MARYLAND, Potomac, U.S, ARIZONA, ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson, ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells Phoenix Tucson ARIZONA Wells ARIZONA, Arizona , Texas, Utah, Oregon, , Florida, Gulf Coast and California, New York, Queens, Brooklyn, The Suffolk County, Parowan Valley , Utah, Norfolk, Va, Mexico, Vietnam, San Joaquin Valley, San Luis Valley, Enoch, Houston, Florida, Enoch’s
Lauren Savoie, 34, an editor at Insider, moved from Boston to Kansas, with her husband, 36. After trying a rural life, Savoie has decided she is a "city kid," and plans to move to New York City next year. So, a little over a year ago, we moved to Manhattan, Kansas, where the university is. The Salina Regional airport, left, is an hour away from Manhattan, Kansas. Healthcare, even in the case of an emergency, was much harder to find in Manhattan, Kansas than it was in Boston.
Persons: Lauren Savoie, She's, I've, Kansas Eddie Brady, I'd, I'm, it's, Lauren Savoie I've, we'll Organizations: Service, Kansas State University, Business, American Airlines, Salina Regional, Healthcare Locations: Boston, Kansas, Savoie, New York City, Wall, Silicon, Manhattan , Kansas, Oregon, Vermont, Manhattan, Chicago, Dallas, Salina, . Kansas, New York City . New York City, New York, Westchester, Midtown Manhattan
Romulo Lollato, a wheat agronomist for Kansas State University, examines wheat in a field on an annual crop tour, near Washington, Kansas, U.S., May 16, 2023. The U.S. Department of Agriculture predicts 2023 corn yield in Illinois will be similar to that of 2021. USDA pegs Iowa’s corn yield just below 2021’s record, which also came amid dry conditions with well-timed showers. The tour uses a rough corn yield calculation, though it does not estimate soybean yield. Final soybean yield across the whole of Nebraska last year was the lowest since 2012 and 18% below the 2019-2021 average.
Persons: Romulo Lollato, Tom Polansek, Pro Farmer, Karen Braun, Matthew Lewis Organizations: Kansas State University, REUTERS, Rights, Farmer, U.S . Department, Agriculture, Pro, Farm Journal Media, Reuters, Thomson Locations: Washington , Kansas, U.S, Rights NAPERVILLE , Illinois, Illinois, Iowa, Minnesota, Illinois , Iowa , Nebraska , Minnesota , Indiana , Ohio, South Dakota, Nebraska
Vrbin’s report notes that Kellams isn’t against teenagers working, and that as a teenager she herself worked at a local chicken plant that has a history of violating child labor laws. Some of these laws, like Iowa’s, which allows 14- and 15-year-olds to work up to six hours a day during the school year, conflict with federal labor law. According to Nina Mast, a state economic analyst at the Economic Policy Institute, the ultimate goal of the proponents of these state laws is to weaken federal child labor law. Though there were attempts to weaken child labor law after that, he says, they weren’t really mainstream for decades. In his book, Fliter notes that as a presidential candidate in 2012, the former House speaker Newt Gingrich “proposed a plan to allow poor children to work as janitors in schools” and called child labor laws “truly stupid.” Since then, political attacks on child labor laws have increased.
Persons: , Tess Vrbin, Laura Kellams, ” Kellams, Nina Mast, John Fliter, Fliter, Mike Lee of, Newt Gingrich “ Organizations: Northwest, Arkansas, Children, Economic Policy Institute, Kansas State University, “ Child Labor, Fair Labor, Senate Locations: Arkansas, The Arkansas, Northwest Arkansas, ” Arkansas, Iowa , New Hampshire, New Jersey, America, Mike Lee of Utah,
More intense summer heat resulting from emissions-driven climate change means animal heat stress that can result in billions of dollars in lost revenue for farmers and ranchers if not properly managed. But technology often insulates livestock in richer countries — another way global warming exacerbates the gap between wealthy and poor nations. Their cows are already showing signs of improved welfare, like chewing more cud, and there's more heat ahead this summer. "We're going to do what's best by our cows no matter what is or isn't going on with climate change," said Megan McAllister, a sixth-generation dairy farmer. As part of his work with Kansas State, Redmond gives presentations to producers and the general public, and he said that climate change has come up in conversations.
Persons: Farmer Ken Ries, Atul Jain, Mario Herrero, McAllister, Megan McAllister, Michelle Schack, they've, let's, Schack, Gerald Nelson, Nelson, Chip Redmond, Redmond, Jackie Boerman, Boerman Organizations: Livestock, The University of Illinois, Cornell University, University of Illinois, USDA, Kansas State University, Kansas State, Purdue University Locations: Ryan , Iowa, U.S, The University of Illinois Urbana, Champaign, United States, New Vienna , Iowa, Arizona, University of Illinois Urbana
Harvard Admit rate: 4% 10k students Duke University Admit rate: 6% 7k students Amherst College Admit rate: 9% 2k students Carnegie Mellon University Admit rate: 14% 7k students University of California, Berkeley Admit rate: 14% 30k students Boston University Admit rate: 19% 20k students University of North Carolina, Chapel Hill Admit rate: 20% 20k students University of Texas, Austin Admit rate: 29% 40k students University of Florida Admit rate: 30% 30k students Bucknell University Admit rate: 35% 4k students San Diego State University Admit rate: 38% 30k students Binghamton University Admit rate: 44% 10k students University of California, Davis Admit rate: 49% 30k students Clemson University Admit rate: 49% 20k students Stevens Institute of Technology Admit rate: 53% 4k students University of Washington, Seattle Campus Admit rate: 54% 40k students Brigham Young University Admit rate: 59% 30k students CUNY Queens College Admit rate: 61% 20k students Texas A & M University, College Station Admit rate: 64% 60k students University of Pittsburgh Admit rate: 67% 20k students Texas Tech University Admit rate: 68% 30k students Ball State University Admit rate: 68% 10k students Rutgers University, New Brunswick Admit rate: 68% 40k students Purdue University Admit rate: 69% 40k students Louisiana State University Admit rate: 71% 30k students University of Delaware Admit rate: 72% 20k students University of Central Missouri Admit rate: 76% 8k students Mississippi State University Admit rate: 76% 20k students University of Wisconsin, Eau Claire Admit rate: 78% 10k students University of Alabama Admit rate: 79% 30k students University of North Carolina, Charlotte Admit rate: 79% 20k students University of Colorado Boulder Admit rate: 80% 30k students Drexel University Admit rate: 83% 10k students University of Arkansas Admit rate: 83% 20k students University of Cincinnati Admit rate: 85% 30k students University of Texas, Dallas Admit rate: 87% 20k students Suffolk University Admit rate: 88% 4k students Arizona State University Admit rate: 88% 60k students West Chester University of Pennsylvania Admit rate: 89% 10k students Grand Valley State University Admit rate: 92% 20k students University of Kansas Admit rate: 93% 20k students Utah State University Admit rate: 93% 20k students California State University, Sacramento Admit rate: 94% 30k students University of Utah Admit rate: 95% 30k students Kansas State University Admit rate: > 95% 20k students University of Wyoming Admit rate: > 95% 9k students 90% admission rate 80% admission rate 70% admission rate 60% admission rate 50% admission rate 40% admission rate 30% admission rate 20% admission rate 10% admission rate These are America’s major four-year colleges, arranged by their admission rates. Just 6 percent of all college students attend a school with an acceptance rate of 25 percent or less. 56 percent of these college students go to a school that admits at least three-quarters of its applicants. These statistics reveal a simple fact about affirmative action in higher education: It mattered very little for the majority of American college students. But because affirmative action only opened a tiny window of access to America’s most elite institutions, the ruling will make little difference for most college students.
Persons: Richard Arum, Mitchell, Stevens, Quoctrung Bui Mr, Arum, Davis, It’s, Lyndon B Organizations: University of California, Stanford Graduate School of Education, Harvard, Duke University, Amherst College, Carnegie Mellon University, Boston University, University of North, University of Texas, University of Florida, Bucknell University, San Diego State University, Binghamton University, Clemson University, Stevens Institute of Technology, University of Washington, Brigham Young University, CUNY Queens College, Texas, M University, College, University of Pittsburgh, Texas Tech University, Ball State University, Rutgers University, Rutgers University , New, Purdue University, Louisiana State University, University of Delaware, University of Central, Mississippi State University, University of Wisconsin, University of Alabama, University of Colorado Boulder, Drexel University, University of Arkansas, University of Cincinnati, Suffolk University, Arizona State University, West Chester University of Pennsylvania, Valley State University, University of Kansas, Utah State University, California State University, University of Utah, Kansas State University, University of Wyoming, Stanford, Black White, White Black, U.S . Department of Education, Pomona, San, California State University , Los, of California Locations: Irvine, Berkeley, University of North Carolina, Austin, Seattle, Rutgers University ,, Rutgers University , New Brunswick, University of Central Missouri, Eau Claire, Charlotte, Dallas, Sacramento, Cambridge, Palo Alto, America, California, San Francisco State, California State University , Los Angeles
Gifford said she thinks it's time to go back to college so she can pursue a job in social work. I grew up in a small town in Arkansas called Quitman, and I went to Arkansas State University right out of high school. In the almost 10 years I've worked here I've never worried about layoffs, but I'm weighing other options now. When he's finished, the plan is for me to return to school for a degree in social work. My advice to someone entering their 20s would be to stay out of debt, don't get credit cards, don't get a new car, and work while you have no children and lots of energy.
Persons: Emily Gifford, Gifford, doesn't, , I've, I'm, he's, that's Organizations: Service, Arkansas State University Locations: Little Rock , Arkansas, Arkansas, Quitman
[1/4] Romulo Lollato, a wheat agronomist for Kansas State University, examines wheat in a field, as part of an annual crop tour, near Clay Center, Kansas, U.S., May 16, 2023. REUTERS/Tom PolansekWICHITA, Kansas, May 22 (Reuters) - Farmers in Kansas, the biggest U.S. producer of wheat used to make bread, are abandoning their crops after a severe drought and damaging cold ravaged farms. Kansas farmers are expected to abandon about 19% of the acres planted last autumn, up from 10% last year and 4% in 2021, according to the report. Soaring prices for hay also pressure wheat farmers not to harvest their fields for grain so they can be fed to cattle, Gilpin said. Kansas farmers are expected to produce just 191.4 million bushels of wheat this year, the smallest since 1963, according to the latest monthly government forecast.
Sometimes there’s not enough rain when seedlings need water, or too much when the plants need to keep their heads above water. Rice farmers are shifting their planting calendars. On top of that, there’s climate change: It has upended the rhythm of sunshine and rain that rice depends on. That’s a fraction of the emissions from coal, oil and gas, which together account for 35 percent of methane emissions. His experiment, carried out over seven years, concluded that by not flooding the fields continuously, farmers can reduce rice methane emissions by more than 60 percent.
Fed Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. "We are seeing that effort begin to pay off, but we have farther to go," Waller told the Arkansas State University Agribusiness Conference in prepared remarks. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done."
ET, the yield on the 10-year Treasury was last down by almost three basis points to 3.6088%. U.S. Treasury yields fell on Thursday as investors digested comments from Federal Reserve speakers and assessed the outlook for the economy. Fed Governor Christopher Waller indicated on Wednesday that interest rates could be increased by more than investors are expecting. This echoed the tone struck by other Fed speakers, including Chairman Jerome Powell and Minneapolis Fed President Neel Kashkari, earlier this week. The Fed has hiked interest rates eight times since March 2022 as part of its efforts to slow the economy and lower inflation.
A senior Federal Reserve official said the economy will need higher borrowing costs for a few years to bring down inflation and prevent price pressures from strengthening. “We still have some work to do to get interest rates in the right place,” said New York Fed President John Williams at The Wall Street Journal’s CFO Network Summit in New York on Wednesday. The Fed began raising interest rates from near zero last March. Separately, Fed governor Christopher Waller said he was optimistic that the Fed’s rate increases were slowing the economy. “And it might be a long fight, with interest rates higher for longer than some are currently expecting.”Their comments come a day after Fed Chair Jerome Powell said the labor market’s surprising strength underscores why bringing inflation down will take longer and require higher interest rates than many investors have been anticipating.
"But I'm not seeing signals of ... quick decline in the economic data, and I am prepared for a longer fight," Waller said. Though wage growth has slowed, the decline is "not enough," Waller said. Waller did not say in his prepared remarks how much higher the Fed may need to raise its benchmark overnight interest rate to reach a level adequate to return inflation to the Fed's 2% target. As of December, the Fed's preferred measure of inflation was increasing at a 5% annual rate. "Though we have made progress reducing inflation, I want to be clear today that the job is not done," Waller said.
Federal Reserve Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But Waller said he sees inflation still too high while he expects just moderate economic growth this year. He did note that wage data is "moving in the right direction," but not enough for the Fed to lower rates.
[1/2] Mark Nelson, a scout on the Wheat Quality Council's Kansas wheat tour, checks a winter wheat field north of Minneapolis, Kansas, U.S., May 17, 2022. 3 winter wheat producer last year. Winter wheat typically represents about two-thirds of U.S. production, with the remainder planted in the spring, and the U.S. has lost market share to other wheat exporters, including Russia, in recent years. U.S. soft red wheat acres rose by 20% year-on-year and planting jumped by 45% in Illinois, the No. 8 U.S. winter wheat state by acreage.
Bills to block the app on state devices in California, Massachusetts, New York and Vermont have also been proposed. University of IdahoSchool’s policy: TikTok must be removed from university equipment "regardless of funding source," according to the school's help page. South Dakota University SystemSchool’s policy: The South Dakota Board of Regents, which governs six universities including Black Hills State University, University of South Dakota, Northern State University, Dakota State University, South Dakota State University and South Dakota Mines, told employees they could not use, download or access TikTok on university devices. University of Texas — AustinSchool’s policy: On Dec. 16, university officials announced that TikTok would be banned on state-issued devices. Texas Tech UniversitySchool’s policy: University employees are prohibited from using TikTok on school-issued devices and official university TikTok accounts must be deactivated.
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