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☆ Learning how to use AI could boost your pay by 25%, study finds
▼ + stars: | 2024-05-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Jobs that require artificial intelligence skills offer significantly higher wages than those that don’t, according to new research published Tuesday. Consultancy PwC studied advertisements, posted last year, for a range of jobs, including app programmers, lawyers and accountants. It found that wages for AI-related roles were on average 25% higher in the United States than for comparable jobs in the same field that did not require those skills. Between 2012 and 2023, the number of jobs requiring AI skills grew 3.5 times faster than the total of all jobs across the countries studied, according to the report. “AI could be the missing piece of the UK’s productivity puzzle, bringing a boost to the economy, wages, and living standards,” said Sahneh at PwC.

Persons: PwC, ” Mehdi Sahneh, Barret Kupelian, ”, ” Randall Kroszner Organizations: London CNN, PwC, Bank of Locations: United States, United Kingdom, Canada, North America, Europe, Asia, PwC

☆ Morning Bid: Consumers in focus as Walmart reports
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Vidya Ranganathan. Thursday's corporate calendar features a host of earnings reports that will shine further light on the health of the global consumer, as U.S. retailers Walmart (WMT.N), Bath & Body Works and Macy's (M.N) report earnings. Expectations for Walmart ride high after peer Target (TGT.N) surged by almost a fifth on Wednesday in the wake of its consensus-beating holiday sales forecast and upbeat view of its supply chain. Figures on Wednesday showed U.S. producer prices fell at their fastest pace since April 2020, and UK consumer inflation undershot all forecasts. Reuters GraphicsMeanwhile in Asia, Japan's exports are struggling due to slumping China-bound shipments of chips and steel.

Persons: Vidya Ranganathan, Eddie Wu, Christine Lagarde, Jerome Powell, What's, Joe Biden, Xi Jinping, England's Randall Kroszner, ECB's Christine Lagarde, Luis de Guindos, Fed's Loretta Mester, John Williams, Michael Barr, Jacqueline Wong Organizations: Vidya, Walmart, Body, Insider Intelligence, U.S, Bank, Events, Applied Materials, Siemens, SQM, Thomson Locations: U.S, Asia, China, San Francisco, Bath, France

☆ The Fed is unlikely to hike rates 'much more': Former Chicago Fed governor
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is unlikely to hike rates 'much more': Former Chicago Fed governorRandall Kroszner, professor of economics at the University of Chicago Booth School of Business, says "at most, they'll do one more rate hike."

Persons: Randall Kroszner Organizations: Former Chicago Fed, University of Chicago Booth School of Business

☆ Don't count out more rate hikes due to strong jobs market, former Fed governor Kroszner suggests
▼ + stars: | 2023-08-16 | by ( Natalie Zhang | ) www.cnbc.com time to read: 1 min

Don't count out additional interest rate hikes, according to former Federal Reserve governor Randall Kroszner. Kroszner, who's now a University of Chicago economics professor, believes rates are staying high into well next year. "I don't see how they can be comfortable to say, 'okay we're not going to be raising anymore' if the labor market is as strong as it is now," Kroszner told CNBC's "Fast Money" on Wednesday. Kroszner, who helped lead the response during the global financial crisis, thinks the Fed won't officially put the brakes on rate hikes until they "see some of the heat coming out of the labor market." He also believes Fed members will be at odds at what they need to see.

Persons: Randall Kroszner, who's, we're, Kroszner, CNBC's Organizations: Federal, University of Chicago, Fed

☆ I don't think the Fed can say it's done raising rates if job market stays strong: Fmr. Fed Governor
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI don't think the Fed can say it's done raising rates if job market stays strong: Fmr. Fed GovernorRandall Kroszner, Former Fed Governor, joins 'Fast Money' to talk what to expect from Federal Reserve Chair Jerome Powell next week at Jackson Hole, what's ahead for the central bank, the impact of the labor market on rate hikes and more.

Persons: Randall Kroszner, Jerome Powell, Jackson Organizations: Fed, Former Fed Governor, Federal

☆ Oil and food prices are rising, and so are wages. Inflation isn’t beaten yet
▼ + stars: | 2023-08-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

Oil and food prices have jumped in recent weeks, and wages are still growing strongly in some of the world’s biggest economies. The UN global Food Price Index rose in July, notching only the second monthly increase in a year of steady declines. Oil supply cutsGlobal oil prices have shot up in recent weeks. The International Energy Agency has forecast that global oil demand will rise to a record 102 million barrels this year. Rising oil prices have spurred a jump in US gasoline prices, which hit an average of $3.82 a gallon Tuesday.

Persons: ” Randall Kroszner, “, Price, Chris Ratcliffe, Richard Bronze, ”, —, unraveled, ” Kroszner, — “, Michelle Bowman Organizations: London CNN, US Federal Reserve, European Central Bank, US Federal Reserve System, University of Chicago Booth School of Business, CNN, UN, Bloomberg, Getty, West Texas Intermediate, International Energy Agency, OPEC, Agriculture Organization, United Nations, Capital Economics, “ Labor, Bank Locations: Ukraine, United States, United Kingdom, Brent, Saudi Arabia, Russia, Moscow

Her comments were echoed by others who feel the narrative shared by three top central banks of relatively cost-free disinflation rests on shaky ground. Among the Fed, ECB and BoE, only the British central bank projects a recession will be needed to slow inflation - only a mild one at that. U.S. central bank officials have split the difference, projecting a modest one-percentage-point rise in the unemployment rate this year from its near-historic low of 3.5%, and slow, but continued, economic growth. Martins Kazaks, Latvia's central bank chief, said the risk of a recession was still "non-trivial," with a host of factors still putting pressure on prices. For the Fed, different policymakers offer different ideas about the forces that will lower inflation as high interest rates slowly cool demand.

Reuters GraphicsThe U.S. central bank is already adjusting to one unanticipated set of changes - an outbreak of inflation coupled with stalled growth in the U.S. labor force. "You have to identify the regime change ... Then you have to understand the transition dynamics ... and have a clear vision and insight into all of those ... "Markets calibrated to ... Chinese growth and low interest rates may prove fragile." Like recessions, which are typically identified only well after they have started, other economic turning points aren't always apparent in the moment. But as evidence of that accumulated following the 2007-2009 recession, it was only embodied into Fed policy in 2020 under a new approach that leaned against premature interest rate increases.

☆ UK names ex-Fed official Kroszner to BoE's Financial Policy Committee
▼ + stars: | 2022-12-21 | by ( David Milliken | ) www.reuters.com time to read: +1 min

LONDON, Dec 21 (Reuters) - Former U.S. Federal Reserve official Randall Kroszner will join the Bank of England's Financial Policy Committee (FPC) as a part-time external member for three years starting in February 2023, Britain's finance ministry said on Wednesday. "His leading academic voice in macroprudential policy ... and his experience at the Federal Reserve during the global financial crisis will be of real value to the committee," finance minister Jeremy Hunt said. The 13-member FPC monitors risks to Britain's financial system and sets capital buffers for British banks and maximum loan-to-income ratios for mortgage lending, as well as giving more general supervisory guidance. Bailey welcomed Kroszner's "significant international policy experience and extensive research on the financial sector". The committee has four scheduled meetings a year, but convenes more often at times of financial market stress.

☆ Inflation is falling. But the days when prices rose just 2% may never return
▼ + stars: | 2022-12-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Energy prices are pulling back because of fears of a global recession, and the price to ship a container across the ocean has plummeted. In the United States, consumer prices rose at an annual rate of 7.1% in November, the smallest increase since December 2021. Prices rose by 10.7% in the United Kingdom last month, down from 11.1% in October, according to data published Wednesday. But even if this bout of inflation has peaked, economists are warning the world may not return to simpler days when prices barely rose at all. At least for now, supply of critical minerals can’t keep up, which could force prices higher at times.

☆ It's really important for the U.S. Fed to move fast, says professor
▼ + stars: | 2022-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's really important for the U.S. Fed to move fast, says professorRandall Kroszner of the University of Chicago Booth School of Business says the U.S. Federal Reserve is "very fortunate" that the unemployment rate remains below 4%.

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