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” - 2 Justin Sullivan - 1 “ - 1 ” Rhys Williams - 1 Williams - 1 Christopher Waller - 1 Jose Torres - 1 Joseph Davis - 1
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4 mentions found


☆ Household Net Worth Surged After the Pandemic Hit
  + stars: | 2023-10-18 | by ( Sarah Chaney Cambon | ) www.wsj.com   time to read: 1 min
Households’ inflation-adjusted median net worth, or wealth, climbed 37% from 2019 to 2022, the survey says. Photo: Justin Sullivan/Getty ImagesU.S. families’ wealth surged in the years after Covid-19 struck, with widespread gains across rich and poor households. Households’ inflation-adjusted median net worth, or wealth, climbed 37% from 2019 to 2022, according to the Federal Reserve’s Survey of Consumer Finances released Wednesday. That was the largest three-year increase since the survey began in 1989.
Persons: Justin Sullivan Organizations: Getty, Federal Reserve’s Survey, Consumer
☆ Fed: Economic Activity ‘Modest’ in Late Summer, Labor Market ‘Subdued’
  + stars: | 2023-09-06 | by ( Tim Smart | Sept. | At P.M. | ) www.usnews.com   time to read: +4 min
The Federal Reserve’s survey of economic activity released Wednesday showed an economy that was expanding at a modest pace in the summer but facing the challenge of a tapped-out consumer and a slowing labor market. There is less unanimity about what the Fed will do after that, at its November meeting. Services inflation is still sticky, the economy may be growing faster than the Fed would like and the Chinese economy is in a slowdown. “Fed Governor Christopher Waller told CNBC yesterday that recent labor market data, including a decline in job openings, moderating wage increases, and slower job growth in August are encouraging,” said Jose Torres, senior economist at Interactive Brokers. Having said that, he left the door open for another rate hike because he doesn’t think one more would weaken economic growth significantly given risks remain tilted towards not doing enough.”
Persons: ”, “, ” Rhys Williams, Williams, Christopher Waller, Jose Torres Organizations: CPI, Management, Reserve, Dow Jones, “, CNBC, Interactive Locations: “, Saudi Arabia, Russia
☆ Why the Fed is still likely to raise rates after cooler June jobs data
  + stars: | 2023-07-09 | by ( Krystal Hur | ) edition.cnn.com   time to read: +4 min
But beneath the surface, the jobs market remains hot. What’s next: The June Consumer Price Index report, a key inflation reading, is due on Wednesday. The Producer Price Index report for June is due on Thursday. Wednesday: Consumer Price Index report and housing starts for June. Thursday: Producer Price Index report for June.
Persons: ”, Joseph Davis, What’s, That’s, James Ragan, DA Davidson, Candice Tse, Price, Chris Isidore, Biden, Julie Su Organizations: CNN Business, Bell, CNN, Vanguard, Traders, DA, Goldman Sachs Asset Management, UPS, Teamsters, NY, Reserve’s Survey, University of Michigan
☆ Gig worker rule comes at bad time for gig economy
  + stars: | 2022-10-11 | by ( Jennifer Saba | ) www.reuters.com   time to read: +4 min
President Joe Biden’s administration is seeking to turn some independent contractors into employees. Shares of Uber, Lyft and DoorDash were down approximately 7% by noon in New York. Analysts expect Uber, DoorDash and Lyft to earn EBITDA margins of just 5% to 7% of revenue this year, according to Refinitiv. A gig worker rule comes at the worst possible time for America’s gig economy. The rule would require companies that rely on so-called gig workers to designate them as employees, making them eligible for more benefits and legal protections.
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