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☆ People are actually less worried about losing their jobs than they were before the pandemic
▼ + stars: | 2022-12-12 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Still, workers are more worried about losing their jobs than they were earlier in the year. Of course, some are more worried than others about losing their jobs. When broken down by age, workers over 59 years old were the most worried about losing their jobs, while fears among those 40 to 59 went down a bit in November. Those under 40 also got a bit more worried about losing their jobs, although all age groups were less worried than they were in November 2021. However, workers with a high school education or less are less concerned about losing their jobs than workers with some college education or a BA and higher.

☆ ECB survey shows rising inflation expectations for year ahead
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Dec 7 (Reuters) - Euro zone consumer expectations for inflation in the year ahead rose in October but predictions for three years out held steady at a rate still well above the European Central Bank's 2% target, the ECB said in a monthly survey on Wednesday. Inflation soared this year on sky high energy and food prices, and the ECB has been raising rates at a record pace to temper at least longer-term expectations. Median inflation expectations over the next 12 months rose to 5.4% in October from 5.1% in September, while expectations for inflation three years ahead were unchanged at 3.0%, the ECB said based on a survey of about 14,000 people in six of the euro zone's biggest countries. The increase in the inflation outlook even came as consumers became more pessimistic about growth and employment, the ECB said. Economic growth expectations for the next 12 months declined to -2.6% from -2.4% in September while unemployment is seen rising and income growth is expected to trail inflation.

☆ The C-Suite Survival Guide to Inflation and Economic Turbulence
▼ + stars: | 2022-11-27 | by ( Brian Hershberg | ) www.wsj.com time to read: +5 min

C-suite executives and other business leaders are planning for a period where inflation is sticky, interest rates are rising, the geopolitical landscape is fraught with tumult and the economy is slowing. U.S. retailers, for instance, are struggling to balance consumer expectations for discounts and the need to keep raising prices to offset high inflation. Real-estate companies are finding it costly to hedge their floating-rate debt amid surging interest costs, and even highly rated companies are pursuing term loans instead of bonds to save on interest costs. In Europe, the war in Ukraine is driving inflation, food shortages, and the prospect of a long, cold winter. Here is how marketing executives can continue to sell their brands to consumers during tight times.

☆ NY Fed: Inflation expectations jump in October on gasoline cost fears
▼ + stars: | 2022-11-14 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Central bank officials contend that where the public sees inflation in the future has a strong influence on current inflation readings. Speaking on Nov. 9, New York Fed leader John Williams said “the importance of maintaining well-anchored inflation expectations is a bedrock principle of modern central banking.” He added, “the news is mostly good — longer-run inflation expectations in the United States have remained remarkably stable at levels broadly consistent” with what the Fed wants to see on inflation over the longer run. “so far, inflation expectations seem to be holding a couple of years out, which is critical,” but he also said “the thing with inflation expectations, once they're unanchored, they're gone. Once it goes, it goes.”The rise in inflation expectations seen in the New York Fed report may be linked to change in the outlook for gasoline prices. MIXED OUTLOOK FOR PERSONAL FINANCESThe New York Fed report also found deteriorating expectations for employment, with the report noting “unemployment expectations reached the highest level since April 2020.”Households view of future finances was mixed in October.

☆ Inflation expectations rebounded in October on record-high jump in gas outlook, NY Fed survey shows
▼ + stars: | 2022-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Inflation expectations for the year ahead rose to 5.9%, up half a percentage point from September to the highest level since July, according to the New York Fed's monthly Survey of Consumer Expectations. Three-year expectations also accelerated to 3.1%, while the five-year outlook rose to 2.4%, respective increases from 2.9% and 2.2%. The outlook for medical costs and rent were little changed, with the latter up 0.1 percentage point, while the expectations for college costs fell to 8.6%, a 0.4 percentage point decline from September. That was lower than the 0.6% Dow Jones estimate for the monthly gain, while the annual rise of 7.7% was half a percentage point lower than the previous month. A separate gauge released Monday from the quarterly Survey of Professional Forecasters also pointed to higher inflation coupled with lower economic growth.

☆ Premarket stocks: Crypto is in crisis. It's not just because of FTX
▼ + stars: | 2022-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The stunning downfall of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and chief executive of FTX, watched billions of his fortune evaporate in a bankruptcy filing that shook the trillion-dollar industry to its core. Those efforts mean capital is drying up – and that’s not just bad for crypto but other asset classes including stocks, too. Cryptocurrencies enjoyed huge injections of money during the pandemic era thanks to the Federal Reserve’s easy money policy. “In all, the slowdown in global money growth looks set to continue over the coming year, with some contraction looking likely in the US,” wrote JPMorgan strategist Nikolaos Panigirtzoglou in a note.

☆ Even with slower inflation, consumer sentiment weakened sharply in November, survey shows
▼ + stars: | 2022-11-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

On an annual basis, the headline index reading fell 18.8%, while the current conditions measure was off 21.5% and the future expectations measure slid 17%. The University of Michigan release comes a day after the Bureau of Labor Statistics reported that the consumer price index rose 0.4% in October, below the 0.6% estimate. "For low-income households in particular, higher prices for essentials limit discretionary spending, crimp savings, and contribute to higher credit card debt." Inflation expectations edged higher in the month despite October's CPI reading, which showed that year-over-year prices rose 7.7%, compared to 8.2% the previous month. The sentiment index reached its historic low in June as worries accelerate that the U.S. already was in recession or heading for one.

☆ Americans are feeling worse about the US economy
▼ + stars: | 2022-11-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN Business —Consumers were feeling slightly worse about the US economy in November, amid punishing rate hikes and decades-high inflation, according to a closely followed University of Michigan survey released Friday. The preliminary index reading from the monthly Surveys of Consumers showed sentiment fell to 54.7, from 59.9 in October. The survey showed that sentiment slumped both for current economic conditions as well as for those in the near future. The survey also showed that consumers’ inflation expectations for this year and five years out remained relatively unchanged. Final sentiment data for this month will be released Nov. 23.

☆ ECB will likely need to raise rates to level that curbs growth-Schnabel
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

LJUBLJANA, Nov 10 (Reuters) - The European Central Bank will probably need to raise interest rates to a level that weakens growth to curb high inflation that is at a growing risk of taking hold in the euro zone, ECB board member Isabel Schnabel said on Thursday. With euro zone inflation running in double digits, the ECB has been raising rates at a record pace even as the euro zone economy heads for recession. read moreBut Schnabel, the leader among ECB hawks who favour higher borrowing costs, said the central bank should press ahead, likely reaching "restrictive territory", or a level of rates that curbs economic growth. "We will need to raise rates further, probably into restrictive territory." "This is currently unlikely, not least due to the robust labour market, large excess savings and the massive fiscal support."

☆ Russian weekly consumer prices edge up slightly
▼ + stars: | 2022-11-09 | by ( Marianna Parraga | Brendan O'Boyle | ) www.reuters.com time to read: +3 min

MOSCOW, Nov 9 (Reuters) - Consumer prices in Russia rose slightly for the seventh consecutive week at the start of November, data published on Wednesday showed, as the central bank tries to balance competing inflationary pressures across the economy. Russia's consumer price index rose 0.01% in the week to Nov. 7, the Rosstat federal statistics service said. That was down from a 0.07% rise in prices recorded a week earlier, a trend some analysts said was signs of weakening consumer demand. The central bank targets inflation at 4%. "The main reason behind the downward trend of inflation is the weakening of consumer demand," said analysts at Alfa Bank.

☆ Why Global Supply Chains May Never Be the Same - A WSJ Documentary
▼ + stars: | 2022-11-03 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Why Global Supply Chains May Never Be the Same - A WSJ Documentary The pandemic exposed breaking points in the system that would fundamentally alter consumer expectations of getting anything we want whenever we want it. By Wall Street Journal Mar 23, 2022 9:30 am Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined. Photo illustration: Adele Morgan

☆ Just 10% of voters under 40 'strongly approve' of Biden in new poll, inflation remains a top concern ahead of the midterm elections
▼ + stars: | 2022-11-01 | by ( Emma Kinery | ) www.cnbc.com time to read: +5 min

One quarter of all respondents under 40 strongly disapproved of Biden's performance. Twenty-six percent of respondents said they "approve somewhat" of Biden's performance and an additional 22% neither approve or disapprove. "There's overwhelming disagreement with the Supreme Court's decision to overturn Roe v. Wade and we find the Supreme Court is highly unpopular among young adults," Ramanathan said. "Inflation is the most salient issue among young adults — specifically inflation, rather than general economic concerns," Ramanathan said, noting that it's increased from previous surveys. "More young adults say inflation makes them more likely to support Republicans than Democrats, but the plurality, about a third, say it won't impact their vote."

☆ This Y Combinator-backed startup wants to transform how hotels manage guests. Check out the 21-slide pitch deck Canary Technologies used to raise $30 million.
▼ + stars: | 2022-10-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Canary Technologies has raised $30 million to overhaul the way hotels manage guests digitally. The startup's platform is used by global brands such as Radisson Hotels and Best Western. Check out the 21-slide pitch deck it used to raise the Series B round below. The startup's tech is used by brands such as Radisson Hotels, Best Western, and Four Seasons. Check out the 21-slide pitch deck it used to raise the funds below:

☆ NY Fed survey finds big drop in expected spending plans
▼ + stars: | 2022-10-11 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The bank said its September Survey of Consumer Expectations survey found that respondents projected their spending will rise by 6% over the next year, a sharp drop from the 7.8% rise predicted in the August survey. The bank noted that decline in spending expectations was the biggest since the survey began in 2013. On the inflation front, households said they were expecting a moderation in near-term price pressure but an increase in price pressures over the longer-run horizon. The survey found that the public sees inflation at 5.4% a year from now, down from 5.7% in August. Fed officials have had some confidence they will be able to get inflation back to their 2% target due to what they see as the relative stability of longer-run inflation expectations.

☆ Inflation expectations ease, while spending outlook tumbles, Fed consumer survey shows
▼ + stars: | 2022-10-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

That's the lowest level since January and the biggest one-month decline ever in a data series going back to June 2013. Respondents did put a slightly higher number on their outlook for three-year inflation, moving that forecast to 2.9%, up 0.1 percentage point from August. Median five-year expectations moved up to 2.2%, an increase of 0.2 percentage point but much closer to the Fed's goal. Consumers see gas prices increasing by half a percentage point, and food to surge by 6.9%, a full percentage point increase from August's survey. Unprecedented levels of fiscal and monetary stimulus also coincided with the inflation surge.

☆ Bond yields higher following market slumps, job data
▼ + stars: | 2022-10-11 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

The yield on the 2-year Treasury , the part of the curve most sensitive to Fed policy, was up by 2 basis points to 4.3329%. The yield on the benchmark 10-year Treasury note rose 6 basis points, trading at 3.9531% at around 5:30 a.m. The yield on the 30-year Treasury bond climbed 7 basis points to 3.9173%. U.S. Treasury yields traded higher on Tuesday as investors digested Monday's market retreat and the previous week's data releases that will guide the Federal Reserve's policymaking. Investors will be looking out for the data release on the NFIB (National Federation of Independent Business) Small Business Optimism Index on Tuesday, after the previous week's release showed an unexpected decline in job openings, slower job growth than forecast and a lower-than-predicted unemployment rate.

☆ U.S. economy is 'doing well' amid global economic uncertainty, says Treasury Secretary Janet Yellen
▼ + stars: | 2022-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen during an armchair discussion at the Rotman School of Management in Toronto, Ontario, Canada on Monday, June 20, 2022. Treasury Secretary Janet Yellen said Tuesday that the U.S. economy was "doing very well" as rising energy prices, Covid-19 variants and Russia's war with Ukraine have caught global markets in a vice grip. "From the perspective of the United States, I think the United States is doing very well," Yellen told CNBC's Sara Eisen Tuesday. Yellen acknowledged that inflation is too high and that lowering it is a priority for the Biden administration. "The dollar is a safe haven, so when times are uncertain, we experience capital inflows into our safe markets," Yellen said.

☆ The Fed is dragging the US into a recession to cool surging prices. Most Americans expect inflation to die down on its own.
▼ + stars: | 2022-09-27 | by ( Ben Winck | ) www.businessinsider.com time to read: +5 min

Inflation expectations have been falling since the spring, signaling there's little chance of a 1980s-like price surge. Inflation expectations may seem like simple forecasts, but their effects on the economy can be dramatic. Anchored inflation expectations can put downward pressure on price growth as consumers reject large price hikes and businesses are pushed to compete with each other. Powell on Wednesday pointed to well-anchored inflation expectations as a boon, but noted the trend "is not grounds for complacency." "The longer the current bout of high inflation continues, the greater the chance that expectations of higher inflation will become entrenched," the chair said.

☆ Retailers Face Pressure to Offer Discounts While Battling Inflation
▼ + stars: | 2022-09-23 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Retailers and their finance chiefs are facing a challenge balancing consumer expectations for discounts and the need to keep raising prices to offset high inflation. With more discounts available and additional inventory being sold through off-price retailers, consumers are expecting to find good deals when they go shopping, executives said. Last month, the average discount at such retailers was 16%, up from 15% a year earlier, UBS said. That is prompting competitors—including those that don’t have too much inventory—to fine-tune their pricing strategies, offering discounts to stay competitive even as they grapple with higher costs. The company’s operating margin fell to 15% from 18.1% a year earlier, according to FactSet, a data provider.

☆ Salesforce's next big thing is a major push to keep its data at the center of a market increasingly dominated by firms like Snowflake
▼ + stars: | 2022-09-22 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +8 min

But many tools, like Snowflake, have emerged to make Salesforce data points one of many in analytics. And Salesforce on Tuesday said it is launching a direct integration with Amazon's machine learning tool SageMaker to support custom machine learning models. At its Tableau keynote, Salesforce emphasized the company's Einstein integrations with Snowflake, with the presentation working with Snowflake data. And with these moves, Salesforce is ensuring the analysis and usage of Salesforce data and its results can remain inside Salesforce's sphere of influence. It enables organizations to connect other data lake tools and operate Salesforce data.

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