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☆ We just got another sign inflation is cooling
  + stars: | 2024-07-31 | by ( Kelly Cloonan | ) www.businessinsider.com   time to read: +2 min
The data is a welcome sign that inflation is easing, and could add to the Fed's confidence that inflation has slowed enough to allow for rate cuts. AdvertisementIn the past few weeks, Fed officials have consistently said they need more data on cooling inflation and a soft labor market before deciding when (and if) to cut interest rates. In a Wednesday press release ahead of the FOMC meeting, the Fed said inflation is "somewhat elevated," showing inflation has eased closer toward the Fed's 2% target. Related stories"The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance," the statement said. That language marks a shift in the Fed's focus away from focusing wholly on inflation and toward ensuring both inflation and the labor market continue to cool before cutting rates.
Persons: —, Jerome Powell Organizations: Service, New Labor Department, Bloomberg, Business, Fed, Bank of America Locations: Bank
☆ Advice about 401(k) rollovers is poised for a big change. Here's why
  + stars: | 2024-04-28 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
Johner Images | Johner Images Royalty-free | Getty ImagesA new U.S. Labor Department rule will significantly change the advice many investors receive about rolling money over from 401(k) plans to individual retirement accounts, legal experts say. watch nowA 'major shift' in rollover adviceThe new Labor Department rule aims to make more investment recommendations "fiduciary" in nature. The new Labor Department rule changes that, however. Good advisors are likely making an honest effort to do what's best for their clients, but hopefully the Labor Department rule would "bring up the bottom to a better quality," Reish said. However, many financial companies dispute the necessity of the Labor Department rule.
Persons: Rollovers, Katrina Berishaj, Ronon Stevens, Young, it's, Reish, Berishaj, They'd, Susan Neely Organizations: . Labor Department, Department, Labor, Economic, Labor Department, Young, American Council of
☆ Workers earning up to $58K a year could soon become eligible for overtime pay
  + stars: | 2024-04-24 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com   time to read: +2 min
Millions more Americans could become eligible for overtime pay. Here's what to know:The new salary limitsStarting July 1, 2024, people earning less than $43,888 per year, or $844 per week, would be eligible for overtime pay. It could also cause businesses to adjust their procedures so people work fewer overtime hours, giving employees more time back. Roughly 15% of salaried workers are currently entitled to overtime pay, and that will roughly double under the new salary limits. However, it's far lower than the 60% of salaried workers who were entitled to overtime pay in the 1970s, per the EPI.
Persons: Harris, Trump, Labor Julie Su, Who's Organizations: Biden, Labor, Fair Labor, Labor Department, Institute
☆ Two important events this week could determine the future of Fed rate policy
  + stars: | 2024-01-21 | by ( Jeff Cox | ) www.cnbc.com   time to read: +4 min
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024. A day later, the Commerce Department will release the December reading on the personal consumption expenditures price index, a favorite Fed inflation gauge. "That's the thing that everybody should be watching to determine what the Fed's rate path will end up being," Chicago Fed President Austan Goolsbee said during an interview Friday on CNBC. On top of that, several of Goolsbee's colleagues, including Governor Christopher Waller, New York Fed President John Williams and Atlanta Fed President Raphael Bostic, issued commentary indicating that at the very least they are in no hurry to cut even if the hikes are probably done. watch now"I don't like tying my hands, and we still have weeks of data," Goolsbee said.
Persons: Brendan Mcdermid, Dow Jones, Austan Goolsbee, Christopher Waller, John Williams, Raphael Bostic, Goolsbee Organizations: New York Stock Exchange, Reuters Markets, Federal Reserve, Commerce Department, Chicago Fed, CNBC, Group, Christopher Waller , New York Fed, Atlanta Fed, Labor Department Locations: New York City, U.S, Christopher Waller , New
☆ Signs of a Weakening Job Market, in Five Charts
  + stars: | 2023-12-05 | by ( Austen Hufford | ) www.wsj.com   time to read: 1 min
People waiting in line to speak with prospective employers during a career fair in Los Angeles last month. Photo: Frederic j. brown/Agence France-Presse/Getty ImagesThe hot labor market that underpinned a surprisingly strong economy this year is showing signs of cooling, an indication that growth could ease in 2024. The unemployment rate has edged higher this year, Americans are taking longer to find new jobs, and wage growth is slowing. New Labor Department data on job openings, to be released Tuesday, and Friday’s November jobs report could provide additional clues about if the historically tight labor market is starting to loosen.
Persons: Frederic Organizations: France, New Labor Department Locations: Los Angeles
☆ Your next Taco Bell orders could be taken with artificial intelligence as fast food chains from McDonald's to Chipotle test automation to combat the brutal labor shortage still plaguing the industry
  + stars: | 2022-12-14 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +2 min
McDonald's, Taco Bell, and Panera Bread unveiled new drive-thru tech. Taco Bell said it is testing AI-powered bots at the drive-thru. Taco Bell, Chipotle, and Domino's are using AI-powered voice bots to take orders, while fast-casual chains like Sweetgreen are adding drive-thru lanes designated for faster pickup of digital orders. During an investor conference held Tuesday in New York, Taco Bell's parent company, Yum Brands, said it is testing conversational AI internally and at a Taco Bell drive thru. Here's a look at the 13 chains and restaurant companies adding automated tech to augment labor and speed up service for digital customers.
☆ See how McDonald's, Subway, Chipotle and other chains are using robots and AI to make faster orders with fewer workers
  + stars: | 2022-12-06 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +2 min
They join a slew of chains adding tech to help with labor shortages and digital orders. Here are 13 chains adding voice bots, robotic fry cooks, and mobile-order express lanes. Chipotle, Domino's, and Checkers & Rally's are using AI-powered voice bots to take orders, while fast-casual chains like Sweetgreen are adding drive-thru lanes designated for faster pickup of digital orders. On Friday, new Labor Department data shows that the restaurant industry is still short 400,000 workers compared to pre-pandemic levels. Here's a look at the 13 chains and restaurant companies adding tech to augment labor and speed up service for digital customers.
☆ Labor Department Clears Path for 401(k) Plans to Offer ESG Funds
  + stars: | 2022-11-22 | by ( Anne Tergesen | ) www.wsj.com   time to read: 1 min
The new Labor Department regulations reverse a Trump administration move that made it harder for 401(k) plans to include ESG investments. More retirement savers could soon have the option to invest in funds based on environmental, social and governance principles, under final regulations issued by the Labor Department on Tuesday. The new rule reverses a move by the Trump administration in 2020 that made it harder for 401(k) plans to put ESG investments on the menu. That regulation went into effect shortly before President Biden took office, but the administration moved to replace it.
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