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☆ Some Gen Z and baby boomers are facing a strange predicament: feeling happy and lonely at the same time
▼ + stars: | 2024-06-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +12 min

"It's great, but it takes an effort," Samtur told Business Insider. That means that right now, Gen Z and baby boomers, in particular, might be experiencing a strange juxtaposition: They're happy and lonely at the same time. "So people feel maybe a little less happy with their lives in midlife, but it doesn't mean you're also feeling lonely." "Overall, people tended to be more lonely, just persistently lonely, if they had less education, had lower income, and poor health," Graham said. Some Gen Zers pay for social connections through activities like fitness memberships.

Persons: Harry Samtur, Samtur, doesn't, Gen, Eileen Graham, Graham, Donna Basztura, Basztura, —, she's, we've, Batszura, Zers, didn't, Preeti Malani, Joan Hendrix, couldn't, I've, Hendrix Organizations: Service, Business, Northwestern University, Gallup, Harvard Graduate School of Education, University of Michigan Locations: Minnesota, Germany, Australia, midlife, Florida

☆ Voters’ reactions: Trump trial verdict isn’t doing much to shift these voters’ 2024 picks
▼ + stars: | 2024-05-31 | by ( John King | ) edition.cnn.com time to read: +9 min

But don’t expect committed Donald Trump voters to suddenly waver because their candidate is now a convicted felon. “This does not impact my plans to vote Republican. Linda Rooney is a Haley supporter from Media, Pennsylvania, wrestling with whether to cast a reluctant Trump vote or write in the former South Carolina governor or someone else. “I looked briefly at some of those things, and it just doesn’t hold water.”Former Trump voter Joan London had a mixed take on the convictions. Lots of Biden voters I talk to.”Pat Levin, another Biden voter in Northampton County, said of the verdict: “It supports and reinforces I believe in the rule of Law.

Persons: don’t, Donald Trump, “, Billy Pierce, “ Biden, Trump, ”, Joe Biden, Andrew Konchek, Bill Clinton’s, Cohen, Who’s, Michael Cohen, Debbie Katsanos, …, I’m, Chris Mudd, ” Mudd, Betsy Sarcone, Nikki Haley, Biden, “ I’ve, ” Pierce, Konchek, —, Matt Vrahiotes, ” Vrahiotes, you’ve, I’ll, ” Jan Gardner, ” Gardner, Hillary Clinton, Devin McIver, Linda Rooney, Haley, Rooney, Irma Fralic, it’s, ” Fralic, Joan London, Michael Cohen’s, Darrell Ann Murphy, Murphy, he’s, ” Pat Levin, ” David Moore, ” Moore, Jade Gray, Nanette Mees, Joanna Brooks Organizations: CNN, Trump, Democrats can’t, Iowa Trump, America, Biden, Republican, Republican National Convention, Media, South, White House, “, University of Michigan, College Democrats Locations: Hartsville , South Carolina, Manhattan, York, New Hampshire, Iowa, Hall County , Georgia, Dunwoody, an Atlanta, Media , Pennsylvania, South Carolina, New York, Montgomery, Pennsylvania, Trump . London, London, Northampton County , Pennsylvania, Northampton County, Nogales , Arizona, Loudon County , Virginia, Milwaukee

☆ Why Are People So Down About the Economy? Theories Abound.
▼ + stars: | 2024-05-30 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

The U.S. economy has been an enigma over the past few years. The job market is booming, and consumers are still spending, which is usually a sign of optimism. But if you ask Americans, many will tell you that they feel bad about the economy and are unhappy about President Biden’s economic record. And while a measure of sentiment produced by the Conference Board improved in May, the survey showed that expectations remained shaky. More than half of registered voters in six battleground states rated the economy as “poor” in a recent poll by The New York Times, The Philadelphia Inquirer and Siena College.

Persons: Biden’s Organizations: University of Michigan, Conference Board, The New York Times, Philadelphia Inquirer, Siena College, Federal Reserve Locations: U.S

☆ Trump has been convicted — but that may not weigh down his White House bid. Here's why
▼ + stars: | 2024-05-30 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

Recent polls suggest that the guilty verdict could affect how key voting blocs view Trump, the presumptive Republican presidential nominee. Nearly three-fourths of registered independents said that a guilty verdict against Trump would make no difference to their vote, according to the survey from NPR/PBS NewsHour/Marist released Thursday morning. However, 23% of independent registered voters in that poll said a Trump conviction would make them less likely to back him. Most people on either side of the political spectrum have already made up their minds about Trump, the professor explained. Quinnipiac polled 1,374 registered U.S. voters from May 16 to May 20, with a margin of error of 2.6 percentage points.

Persons: Donald Trump, Joe Biden, Trump, Erik Gordon, Biden Organizations: Democratic, Trump, NPR, PBS, Marist, Quinnipiac University, University of Michigan's Ross School of Business, Politico, House, Quinnipiac Locations: American, New York, —

☆ Why replacing alcohol with weed is a growing trend in the US
▼ + stars: | 2024-05-30 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

The use of weed to replace alcohol is a growing trend in the United States. “We know that moderate alcohol consumption has health risks, and risk increases as alcohol consumption increases,” Boyd said in an email. “Cannabis smoke contains toxins, carcinogens, and particulate matter that have been linked to cancer, lung damage, and cardiovascular disease,” Cohen said in an email. Research on edibles, such as baked goods, candies and beverages, and other methods of using cannabis is in its infancy. “In and of itself, it’s not good that more people are using cannabis,” Grinspoon said.

Persons: CNN —, “, —, ”, “ I’ve, Carol Boyd, ” Boyd, Weed, Peter Grinspoon, ” “, ” Grinspoon, Beth Cohen, ” Cohen, I’m, Boyd, ” Robert Page II, Grinspoon, ideation, it’s Organizations: CNN, National Survey, Center, Drugs, University of Michigan, US Centers for Disease Control, Massachusetts General Hospital, Marijuana, University of California, University of Colorado Skaggs School of Pharmacy, Pharmaceutical Sciences, Drug, Food and Drug Administration, National Poison Center, FDA, Lifeline Locations: United States, Washington, Ann Arbor, Boston, San Francisco, Aurora, Georgia

Miss Kim brought in $1.89 million in sales in 2023 and made a net profit of $101,553 for the fiscal year from August 2022 to July 2023. "I started wondering, if I had Korean food or Asian food and I was able to tell this story…what would that look like?" In the fiscal year from August 2016 to July 2017, Miss Kim brought in $699,877 in sales, according to Kim. Doing away with tippingToday, Miss Kim is profitable and thriving, with total sales of $1.89 million in 2023. When Miss Kim first opened, "we decided that we're going to do away with tipped credit and pay people living wage."

Persons: Ji Hye Kim, Kim, Ann Arbor, Miss Kim, Young Kim, Hye Kim Kim, Paul Saginaw, Ari Weinzweig, Zingerman's, Hye Kim, she'd, It's, Kim didn't, Zach Green, Marisa Forziati Organizations: CNBC, U.S, University of Michigan, Dancing Sandwich Enterprises, Miss Locations: South Korea, New Jersey, Ann, Zingerman's, Ann Arbor, Michigan, New York, Saginaw, Korea, Ann Arbor , Michigan, gochujang, U.S, United States, Miss

☆ EV range is making huge strides, but there still aren't enough places to charge.
▼ + stars: | 2024-05-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

But despite the vast improvements in battery technology, EV charging still can't hold a candle to the 5-minute stop to fill a gas tank. Related storiesCar companies hoped the public charging infrastructure would improve along with them as they built more range into their vehicles. AdvertisementWhat no one can seem to agree on is who is responsible for building out public charging infrastructure. All these industry efforts have helped to feed an EV charging infrastructure boom in recent years. The Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030.

Persons: —, Biden Organizations: Service, Business, EV, GM, Pew Research, Department of Energy, Biden Administration, University of Michigan Transportation Research Institute

☆ Opinion: The ‘senior assassin’ game is all good fun — until it isn’t
▼ + stars: | 2024-05-26 | by ( Opinion Kara Alaimo | ) edition.cnn.com time to read: +5 min

Her book “Over the Influence: Why Social Media Is Toxic for Women and Girls — And How We Can Take It Back” was recently published by Alcove Press. Unsurprisingly, the game has resulted in many calls to 911, car crashes, a school evacuation and dangerous confrontations with actual gun owners. Of course, it’s easy to see why kids are playing “senior assassin”: they’re trying to connect with one another. Their generation spends less time with friends and more on social media. As police have warned, someone who thinks they’re in danger from an actual gun might meet a kid playing this game with deadly violence.

Persons: Kara Alaimo, ”, —, “, Kaylin Gillis, It’s, shouldn’t, what’s, I’ve, toymakers Organizations: Fairleigh Dickinson University, Women, Press, Facebook, CNN, USA, YouTube, University of Michigan’s, Pew Research, Twitter Locations: New York

☆ Stock futures are little changed after Dow posts worst session since March 2023: Live updates
▼ + stars: | 2024-05-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 11, 2023. Stock futures were little changed on Thursday evening, following the worst session in more than a year for the Dow Jones Industrial Average. S&P 500 futures ticked up by 0.04%, while Nasdaq 100 futures pulled back 0.02%. The Dow suffered a 1.53% decline for its worst session since March 2023, weighed down by a 7.6% drop in Boeing. To that end, the S&P 500 is tracking for a weekly loss of 0.7%, while the Dow is on pace to drop about 2.4%.

Persons: Dow, Jamie Cox, Dow Jones Organizations: New York Stock Exchange, Stock, Dow Jones, Dow, Nasdaq, Intuit, Ross Stores, Nvidia, Boeing, Harris Financial, Federal Reserve, University of Locations: New York City, U.S

☆ Federal Reserve minutes indicate worries over lack of progress on inflation
▼ + stars: | 2024-05-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions. Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease. The meeting followed a slew of readings that showed inflation was more stubborn than officials had expected to start 2024. The Fed targets a 2% inflation rate, and all of the indicators showed price increases running well ahead of that mark.

Persons: Jerome Powell, Christopher Waller, FOMC, Stocks Organizations: Federal, Committee, Federal Reserve, Market, Fed, University of Michigan, New York Fed Locations: Washington , U.S

☆ Cannabis poisonings among older adults have tripled, study finds
▼ + stars: | 2024-05-20 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

But some older adults may be unaware of the strength of today’s weed, and little is known about the health effects of legalizing edible cannabis on older adults — the age group with the largest growth in overall cannabis use a year after dried cannabis flower was legalized in Canada, Stall said. Jamie Grill/Tetra images RF/Getty Images“There’s a bit of an age-related bias that many health care practitioners, and frankly society, hold that older adults are not using drugs. During the eight-year study period, there were 2,322 emergency department visits for cannabis poisoning in older adults who were age 69 on average. Products older adults intentionally use should have dosing information with specific guidance for older adults, “recognizing that the amount of drug they may need is a lot less than younger populations,” Stall said. Health care providers should also have open and judgment-free conversations with older adults about cannabis use and its benefits and risks, he added.

Persons: edibles, Nathan, Jamie Grill, “, ”, —, Lona Mody, Sharon K, Inouye, weren’t, Amanda Sanford Hickey, Ann Arbor . Inouye, Arthur Marcus, ” Mody Organizations: CNN, Sinai Health, Getty, Ontario Ministry, Internal Medicine, University of Michigan, Aging, for Aging Research, Harvard Medical School Locations: Canada, —, Sinai, Ontario, Ann Arbor, Boston

☆ Wealthy Americans are starting to spend more carefully
▼ + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.

Persons: they’ve, “, ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, ”, Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington

☆ Why Americans' confidence in finding a new job is tanking even as the labor market is humming along
▼ + stars: | 2024-05-18 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Why Americans might be getting worried about the job marketIn some ways, Americans' growing pessimism in the job market is perplexing. That's because the job market has become more challenging than it was a couple of years ago, when the Great Resignation was at its peak. So, it's possible that some Americans in certain industries are facing a job market where openings are far from abundant. For example, there's some evidence that the job market for high-wage roles has cooled over the past year. Julia Pollak, the chief economist at ZipRecruiter, told Business Insider earlier this month after April's labor market figures were released by the Bureau of Labor Statistics that it is "no longer a white-hot labor market" or a job "candidate's market in every industry where workers can get whatever they want."

Persons: —, they'd, hasn't, What's, Joanne Hsu, Julia Pollak Organizations: Service, York Fed's Survey, Consumer, Business, NY, of Labor Statistics, Bureau of Labor Statistics, New, Fed, LinkedIn, NY Fed, University of, Labor Locations: York

☆ Consumers have given up on long-term saving goals, says University of Michigan's Joanne Hsu
▼ + stars: | 2024-05-17 | 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 EmailConsumers have given up on long-term saving goals, says University of Michigan's Joanne HsuJoanne Hsu, University of Michigan director of the surveys of consumers, joins 'Power Lunch' to discuss the psychology behind consumer spending.

Persons: Michigan's Joanne Hsu Joanne Hsu Organizations: Consumers, Michigan's, University of Michigan

☆ Buckle up America: Powell says interest rates will likely stay higher for longer as inflation stubbornly refuses to come down
▼ + stars: | 2024-05-16 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewInflation and interest rates are still high, but Americans shouldn't count on any relief just yet. Advertisement"The status of the battle against inflation requires that interest rates remain elevated in the near-term," Hamrick said. "The first quarter in the United States was notable for its lack of further progress on inflation," Powell said during the panel. But while job seekers and workers may find this cooldown concerning, that moderation is also welcome and the labor market is still strong. "Paired with high borrowing costs — like high interest rates on your credit cards — and the current economy can feel quite uncomfortable," Renter added.

Persons: —, That's, Mark Hamrick, Hamrick, Jerome Powell, Powell, Joanne Hsu, Nick Bunker, Ted Rossman, Rossman, Elizabeth Renter, Renter, it's Organizations: Service, Federal Reserve, Bureau of Labor Statistics, CPI, Business, Federal, University of Michigan, North America Locations: Amsterdam, United States, —

☆ How one rising Miami VC raised more money for his first fund. Other emerging investors haven't been so lucky.
▼ + stars: | 2024-05-16 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +7 min

Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."

Persons: —, Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, —, Bessemer

☆ Royal Caribbean and Norwegian have serious sustainable-food-supply-chain goals — here's how they compare
▼ + stars: | 2024-05-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Royal Caribbean Group and Norwegian Cruise Line Holdings aim to source their foods more sustainably. In 2023, the cruise giants Royal Caribbean Group and Norwegian Cruise Line Holdings accommodated more than 10.3 million travelers. Both companies have been increasingly shopping localBoth Norwegian and Royal Caribbean want to be net zero emissions by 2050. Royal Caribbean did not respond to an inquiry about its beef initiatives or plans to expand its plant-based offerings. That's not to mention all the heat that cruise companies already take for operating ships that are bad for the environment.

Persons: —, Brittany Chang, Linken D'Souza, Royal Caribbean's, Bambi Semroc, it's, Ravi Anupindi, Anupindi, Royal, Semroc Organizations: Royal Caribbean Group, Cruise Line Holdings, Chain Management, Service, Norwegian, Royal, Business, Royal Caribbean's, Conservation, University of Michigan's Ross School of Business, Marine Stewardship Council, Aquaculture, Council, Global Animal Partnership, Regent Seven Locations: buffets, Royal Caribbean, Europe, Seattle, Vancouver, Florida, California, New York City, Norwegian, Oceania

☆ Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. It also highlights a notable contrast between sentiment on Wall Street and Main Street. Dow 100: The Dow first closed in triple digits in January 1906. The Dow nearly matched that in 2017, rising 25%. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: Dow, stoking, ”, Gary Pzegeo, John Williams, Tom Barkin, ” Tyler Schipper, Thomas, Hogan, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Markets, Federal Reserve, Bureau of Labor Statistics, CIBC Private Wealth, ”, Walmart, Airlines, Big Tech, York Fed, Reuters, Richmond Fed, Dow, University of Michigan, CNN, CPI, University of St, Riley Financial, Wall, Microsoft, Chevron, Traders, New York Stock Exchange, Getty, Federal, Woolworth, Eastman Kodak Locations: New York, United States, Minnesota, Chevron —, AFP

☆ The top 10 most affordable colleges on the 'New Ivies' list from Forbes—2 are private schools
▼ + stars: | 2024-05-15 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Going to an Ivy League school for college may help you earn a competitive salary down the line. The average tuition price across the Ivy League colleges is $64,829 — and that's before factoring in housing, food, books and other fees, according to the schools' latest available listed prices. Often, as is the case with Ivy League schools, private colleges can offer better financial aid packages through institutional grants and scholarships. These are the 10 new Ivies with the lowest average net price, according to Department of Education data:1. University of Michigan—Ann ArborOut-of-state tuition: $27,864 (figure reflects 2023-24 tuition price, 2024-25 price not available)Average net price: $16,7928.

Persons: University of Texas — Austin Organizations: Ivy League, Princeton University, Harvard College, Department, Education's, Forbes, —, CNBC, of Education, University of Florida, University of North, Georgia Institute of Technology, Rice, University of Illinois, University of Maryland —, University of Michigan, University of Wisconsin —, University of Texas —, Johns Hopkins Locations: University of North Carolina, University of Illinois Urbana — Champaign, Ann Arbor

☆ Inside the life and career of Larry Page, Google's co-founder and first CEO
▼ + stars: | 2024-05-15 | by ( Avery Hartmans | Lakshmi Varanasi | ) www.businessinsider.com time to read: +13 min

AdvertisementSo who is Larry Page and how did he get to where he is today? AdvertisementPage and Sergey Brin create GoogleGoogle co-founders Sergey Brin and Larry Page met as students at Stanford. Google's parent company, Alphabet, has developed self-driving cars through Waymo, the company formerly known as the Google Self-Driving Car project. Page's personal lifeGoogle cofounder Larry Page and his wife, the scientist Lucinda Southworth C Flanigan/FilmMagicThroughout it all, Page has kept information about his personal life closely guarded. Life after GoogleGoogle cofounder Larry Page bought Cayo Norte, an island in Puerto Rico.

Persons: —, Larry Page, Sergey Brin, Page, Sundar Pichai, Gloria, Carl Page —, Larry, what's, Nikola Tesla, he's, Brin's, BackRub, Brin, Eric Schmidt, Schmidt, Andy Rubin's, he'd, Andrew Kelly, Sergey, Lucinda Southworth C, Lucinda Southworth, Richard Branson, Page's, Carl Victor Page, Carl Page, He's, Hugh Langley Organizations: Service, Google, Business, Michigan State University . Education, Getty, Michigan State University, The, Montessori, Google Google, Stanford, Associated Press, University of Michigan, Labs, Reuters Page, Virgin Group, Investments, Carl Victor Page Memorial Foundation, Zee Aero, Pacific, Virgin Island, Atomic Locations: Michigan, Waymo, Toronto, Stanford, Caribbean, Palo Alto, Cayo Norte, Puerto Rico, Koop, Tavarua, Fiji

☆ Trump has promised an immigration crackdown if reelected. That could backfire on the economy
▼ + stars: | 2024-05-14 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —If voters return former President Donald Trump to the White House, he’s promised to launch an unprecedented crackdown on immigration and even conduct mass deportations. Trump recently told Time that he would aim to deport 15 million to 20 million people, perhaps by using the National Guard. Even though consumer prices are no longer skyrocketing, the cumulative impact of three years of high inflation is painful. “Most Americans view high inflation and high prices as unfair. But immigration remains a major concern for voters in the 2024 election and Trump has made it a centerpiece of his campaign.

Persons: Donald Trump, he’s, Trump, —, Mark Zandi, “ It’s, Joe Brusuelas, ” Brusuelas, You’d, ”, Karoline Leavitt, Joe Biden “, ” Leavitt, “, Joe Biden, Zandi, Trump’s, criminologists, Biden, Jerome Powell, Brusuelas, Goldman Sachs, ” Goldman Sachs, Wendy Edelberg, Edelberg, that’s Organizations: New, New York CNN, White, National Guard, Federal Reserve, CNN, RSM, Trump, Social Security, University of Michigan, Labor Department ., The Hamilton, ”, Hamilton, Security, Congressional, Office, The Hamilton Project, Brookings Institution Locations: New York, China, Covid, Mexico, United States

☆ Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows
▼ + stars: | 2024-05-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.

Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York

☆ Treasury yields dip as investors look to key data this week
▼ + stars: | 2024-05-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by nearly 2 basis points at 4.485%. The 2-year Treasury yield was last at 4.844% after falling by more than 2 basis points. U.S. Treasury yields fell slightly Monday as investors looked to key inflation data and comments from Federal Reserve officials slated for the week. Investors awaited key economic data due this week, including April's consumer price index, which is expected Wednesday and will provide fresh insights into whether consumer inflation is easing or sticky. April's producer price index, which tracks inflation on a wholesale level, is also due this week.

Persons: Dow Jones Organizations: Treasury, U.S, Federal Reserve, University of Michigan Survey

☆ These 2 charts show just how little faith Americans have in the economy
▼ + stars: | 2024-05-12 | by ( Paul Squire | Madison Hoff | ) www.businessinsider.com time to read: +1 min

Consumers aren't buying it, per the latest monthly survey of how Americans feel about the economy. These charts show how gloomy Americans feel, despite the numbers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIndicators be damned: US consumers are still gloomy about the state of the economy. This story is available exclusively to Business Insider subscribers.

Persons: —, Joanne Hsu Organizations: Consumers, Service, University of Michigan, Business

☆ AI washing: A Microsoft VC's warning about dubious, and rising, corporate artificial intelligence claims
▼ + stars: | 2024-05-10 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

Some are practicing something called "AI washing," which Securities and Exchange Commission chair Gary Gensler explained in a video includes "false claims to investors by those purporting to use those new technologies." In reality, what AI washing leads to is a breakdown of confidence between vendors and their consumers, enterprise partners and investors. Bates says so-called button-pushing applications are AI washing, too. "These prompts that are being sold as AI companies, they have to be maintained and monitored and adjusted in order to work." Stewart says even 80–90% gross profitability for a fully AI company with limited human intervention is standard.

Persons: they're, Gary Gensler, It's, it's, Michael Stewart, Timothy Bates, Bates, Toby Coulthard, Coulthard, Microsoft's, Stewart Organizations: Securities, Exchange, SEC, Inc, University of Michigan, Flint College of Innovation & Technology, Lenovo, General Motors

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