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☆ ‘Just too burnt out’: Child care crisis crunches providers
▼ + stars: | 2024-06-15 | by ( Meena Duerson | Tami Luhby | ) edition.cnn.com time to read: +7 min

Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.

Persons: Susan Elandt, ” Elandt, I’m, “ It’s, “, Elandt, what’s, ”, Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca

Many forms of help are tied to the federal poverty line, which is calculated using a formula that has largely not been updated since the 1960s. The poverty line is calculated in an outdated wayThe current federal poverty line for the 48 contiguous states and Washington, DC, is $15,060 a year for one person, $20,440 for a family of two, and $31,200 for a family of four. Courtesy of Melissa HeddenMuch of the resistance to changing the federal poverty line could stem from the government's desire not to inflate the number of people in poverty overnight. AdvertisementRep. Kevin Mullin, a Democrat from California, has introduced legislation — called the Poverty Line Act— that would modernize the federal poverty line, taking into account actual costs of goods and how prices differ across regions. Do you make above the poverty line but not enough to meet your daily needs?

Persons: —, Jason Hopkins, Hopkins, he's, He's, doesn't, ALICE —, Nyx, Beth Jarosz, Kyle Ross, ALICE, Mollie Orshansky, Jarosz, Stephanie Hoopes, United For ALICE, they've, Melinda Binkley, Ryan Arbuckle, Louis, Oleg Parubin, Parubin, Melissa Hedden, Melissa, Ross, Biden, Kevin Mullin, Mullin, Michael Tubbs, Tubbs Organizations: Service, Business, America, Center for American Progress, Bureau of Labor Statistics, of Health, Human Services, Assistance, Women, Children, United For, SNAP, Bills, Senate Locations: Illinois, Washington, DC, Stillwater , Minnesota, St, Manhattan, Airbnbs, North Carolina, California, Stockon , California, Illinois —

☆ Gas prices are cheaper than last summer and miles away from the nightmare of 2022
▼ + stars: | 2024-06-14 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Gas prices today are not cheap – but they are miles away from that point. Of course, gas prices were cheaper during the Covid-19 pandemic because demand was severely low. In part because they are so visible, gas prices play a key psychological role in how people feel about the economy. “But there is more work to be done — the President remains committed to lowering prices at the pump for Americans and maintaining a stable and secure energy supply.”Real gas prices are cheaper than in 2018Many people may wish for the $2 gas prices of last decade. “Inventories are likely headed back to normal levels, which will keep gasoline prices lower throughout the summer driving season.

Persons: New York CNN —, ”, Patrick De Haan, it’s, “ We’ve, De Haan, Joe Biden’s, Mark Zandi, Angelo Fernández Hernández, That’s, “, Rob Thummel, ” Thummel Organizations: New, New York CNN, AAA, Labor Statistics, Federal Reserve, White, Moody’s Analytics, “, CNN, Covid, US Energy Information Administration, White House Locations: New York, California, Utah, Washington, Idaho, Arizona, Wisconsin, Nevada, United States, OPEC, Ukraine, Israel, Gaza

☆ PPI report: Another positive sign for consumers after wholesale inflation ticked down last month
▼ + stars: | 2024-06-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

Economists polled by FactSet had anticipated a 0.1% rise in monthly wholesale inflation. Excluding food and energy prices, so-called “core” producer inflation rose 2.3% on an annual basis, the same level seen in April. PPI captures average price shifts before they reach consumers and serves as a potential bellwether for retail-level inflation in the months ahead. The new inflation data follows May’s Consumer Price Index released Wednesday, which showed that the pace of price increase consumers see across goods and services cooled to 3.3% from 3.4% in April. But others expressed concerns that the fall in producer prices may actually represent a negative consequence.

Persons: FactSet, Price, Jerome Powell, he’d, ” Clark Bellin, ”, Christopher Rupkey, ” Rupkey Organizations: New, New York CNN, Federal Reserve, of Labor Statistics, PPI, Fed, FwdBonds Locations: New York

☆ Stock market today: Stocks edge higher to close at a record after upbeat producer inflation data
▼ + stars: | 2024-06-13 | by ( Max Adams | Filip De Mott | ) www.businessinsider.com time to read: +3 min

US stocks ended mostly higher on Thursday as investors were encouraged by new inflation data. Data showed wholesale inflation rose less than expected in May, a day after CPI showed consumer inflation also slowed. Tesla shares jumped ahead of the results of Elon Musk's pay package vote, while Broadcom soared after earnings. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meanwhile, Broadcom stock rocketed higher on upbeat earnings and the announcement of a 10-for-1 stock split.

Persons: —, Bill Adams, Elon Musk Organizations: Elon, Broadcom, Service, Federal Reserve, Traders, Bureau of Labor Statistics, Fed, Comerica Bank, BlackRock, Vanguard, Bank of America, Nvidia, Here's

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

☆ Wholesale prices unexpectedly fell 0.2% in May
▼ + stars: | 2024-06-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor Statistics reported Thursday. Excluding food, energy and trade services, the PPI was unchanged, compared with expectations for a 0.3% increase. From the wholesale perspective, the PPI was held back by a 0.8% decrease in final demand goods prices, which was the largest decline since October 2023. On the services side, fuels and lubricants retailing margins surged 12.2%, but that was offset in part by a 4.3% plunge in airline passenger services prices.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, PPI, Stock, BLS, Federal Reserve, Labor Department

☆ The job market is strong but competitive, says economist—how to land a role right now
▼ + stars: | 2024-06-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

The labor market is cooling, but this slowdown doesn't equate to an easier hunt for job seekers. There were about 1.2 job openings per unemployed worker in April, down from a ratio of two openings per person about two years ago. People might feel burned out or frustrated searching for a new job due to lingering expectations from the red-hot job markets of 2021 and 2022. But there are signs that the U.S. job market is strong despite economic headwinds like higher interest rates, Nela Richardson, ADP's chief economist, tells CNBC Make It. Job openings continue to trend toward pre-pandemic levels and the national unemployment rate is under 4%, a historically low mark.

Persons: Nela Richardson, Richardson Organizations: U.S . Bureau of Labor Statistics, LinkedIn, CNBC Locations: U.S

☆ Here are the 'micro pockets' of deflation in May 2024 — in one chart
▼ + stars: | 2024-06-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

There are currently some "micro pockets" of deflation in the U.S. economy, said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. Why prices are deflating for goodsConsumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. For example, households have seen prices for furniture and bedding fall by 3.7% since May 2023, according to the consumer price index. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Travelers have also seen deflation for airline fares (-5.9%), hotels (-1.7%) and car rentals (-8.8%) since May 2023.

Persons: Joe Seydl, Seydl, Michael Pugliese, they've, Hayley Berg, Hopper, Olivia Cross Organizations: Getty, Morgan Private Bank, Consumers, Wells, Wells Fargo Economics, Finance, Federal Reserve, of Labor Statistics, U.S, Canadian, Capital Economics Locations: U.S, Wells Fargo, North America

☆ 'Clear path to a soft landing': Here's what Wall Street sees for Fed rate cuts after May inflation came in cool
▼ + stars: | 2024-06-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Investors cheered a soft May inflation report, which could pave the way for Fed easing this year. Rate cuts in September are "overwhelmingly likely," one economist said. AdvertisementSome Wall Street analysts predict the Fed's first cut could come as soon as July, though most see a rate cut in September as the most likely scenario. "But rate cuts starting by September should now be cemented as overwhelmingly likely." Investors are waiting for Fed Chair Jerome Powell to speak later Wednesday afternoon, which should give markets more guidance on the path of rate cuts.

Persons: —, Skyler Weinand, Regan Capital, Preston Caldwell, Morningstar's, Ryan Severino, BGO, Jerome Powell, Weinand, David Russell Organizations: Service, of Labor Statistics, Federal Reserve, Fed

☆ CPI report: Inflation slowed in May, hinting at welcome relief for consumers
▼ + stars: | 2024-06-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Falling gas prices kept inflation in check following a 0.3% gain in April. “Adding to the good inflation news, core services inflation (excludes energy services) printed its mildest monthly increase since September 2021,” Kathy Bostjancic, Nationwide’s chief economist, wrote in a note issued Wednesday. On an annual basis, shelter inflation slowed a tenth of a percentage point to 5.4%, which is its lowest rate since April 2022. Still, those costs continue to run hot for consumers, with transportation services prices up 10.5% from a year ago and car insurance up 20.3%. Soft CPI boosts chances for Fed cutsThe CPI, which tracks average change in prices for a basket of goods and services common to consumers, is the most widely cited inflation metric.

Persons: ” Philip T, Powell, They’re, ” Kathy Bostjancic, Indiana University’s Powell, it’s, ” Sean Snaith, ” Preston Caldwell, Tool, “, ” Scott Anderson Organizations: CNN, Inflation, Federal, Bureau of Labor Statistics ’, Indiana Business Research Center, Indiana University Kelley School of Business, Federal Reserve, CPI, Transportation, University of Central, Soft, Fed, Morningstar, BMO Bank Locations: “, Indiana, University of Central Florida

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ Even with food prices flattening out, the cost of dining out is still going up
▼ + stars: | 2024-06-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. Grocery prices rose 1% in the 12 months through May. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. In February, overall food prices remained flat for the first time since April 2023.

Persons: Joe Erlinger, Justin Sullivan, Rice, Milk Organizations: New, New York CNN, Bureau of Labor Statistics, McDonald’s, KFC, Starbucks Locations: New York, Burger King, Ukraine, Texas

☆ Inflation unexpectedly cools off as the Fed decides its next move
▼ + stars: | 2024-06-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Meanwhile, the gas index rose 2.2% from May 2023 to this past May, higher than the 1.2% year-over-year increase in April. The food index rose 2.1% for the 12 months ending May after it was consistently seeing year-over-year increases of 2.2%. More specifically, the food at home index rose 1.0% for the 12 months ending May after a 1.1% increase. Meanwhile, the food away from home index rose 0.4% in May from the preceding month and 4.0% year over year in May. Inflation measures like the CPI suggest US inflation is still too high although these rates look a lot better than back in 2022.

Persons: —, it's, Elizabeth Renter, David Kelly Organizations: Service, Index, Bureau of Labor Statistics, Business, CPI, BLS, Housing, Morgan Asset Management

☆ Biden cheers cooling inflation ahead of key Fed interest rate decision
▼ + stars: | 2024-06-12 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

"Prices are still too high, but today's report shows welcome progress on lowering inflation," Biden said in a statement. The federal Bureau of Labor Statistics report also showed that the annual inflation rate fell to 3.3% in May, down from 3.4% in April and 3.5% in March. The numbers also came in cooler than economists had expected, with those surveyed by Dow Jones having predicted a 0.1% increase in prices and a 3.4% annual rate of inflation. "Wages are rising faster than prices, and unemployment has remained at or below 4% for the longest stretch in 50 years," said Biden. "I know many families are feeling squeezed by the cost of living, which is still too high," he added.

Persons: Joe Biden, Biden, Dow Jones Organizations: Wednesday, of Labor Statistics

☆ Where’s inflation really heading? Traders and economists are using this real-time inflation gauge to get ahead of the curve
▼ + stars: | 2024-06-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay. The government also has a much longer history of producing inflation reports with extremely thorough standards. Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated. That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate. How Truflation data is being usedWall Street traders were the first group drawn to Truflation, Rust said.

Persons: Truflation, Hilton, Stefan Rust, Rust, “, ” Danielle DiMartino Booth, Richard Fisher, Booth Organizations: New, New York CNN, Index, Federal, Social Security, PCE, CPI, Amazon, Walmart, Nielsen, Bureau of Labor Statistics, Labor Department, CNN, Dallas Fed, QI Research Locations: New York, Zillow

☆ Here's what investors expect from the stock market after the Fed decision Wednesday
▼ + stars: | 2024-06-11 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Broadly speaking, market observers expect that investors have already priced in how the Fed may proceed with interest rates. So long as this week's Fed meeting sticks to the consensus view, many observers expect stocks will breathe a sigh of relief. "This is one of the busiest of the days on Wednesday," said Art Hogan, chief market strategist at B.Riley Financial. Possibility for surprise Of course, the Fed meeting still has the potential to surprise investors. ET Wednesday while the Fed meeting wraps up at 2:00 p.m. and Powell's press conference starts a half hour later.

Persons: shrugging, Hogan, Dave Sekera, it's, Riley's Hogan, ChairJerome Powell, Powell, hasn't, Brian Nick, Nick, —, I'd, Jeff Klingelhofer, Klingelhofer, Joshua Roberts Organizations: Federal Reserve, B.Riley, Morningstar, Fed, Macro, Bureau of Labor Statistics, Nvidia, Thornburg Investment Management, Federal Locations: U.S, Washington ,

☆ Fed meeting and inflation report both hit Wednesday, and the impact could be huge
▼ + stars: | 2024-06-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. None of those numbers are dramatically different from the April readings, and still show inflation running well above the Fed's 2% target. Central bankers prefer the Commerce Department's measure of personal consumption expenditures prices, a broader measure that also accounts for changes in consumer behavior. The Bureau of Labor Statistics is scheduled to release the CPI report at 8:30 a.m. The Fed meeting

Persons: Jerome Powell, Celal Gunes, Jonathan Pingle, Pingle, tinker, Jack Janasiewicz, —, Janasiewicz Organizations: U.S . Federal Reserve, of Research, Statistics, Governors, Federal, System, Washington D.C, Getty, Anadolu, Federal Reserve, UBS, CPI, Investment, Labor Statistics Locations: Washington, United States, Anadolu

☆ Up to 65% of workers with these jobs are middle class—and some don't require a bachelor's degree
▼ + stars: | 2024-06-11 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

But the middle class may be more occupationally ambiguous, especially since a middle class income can range from $49,720 to $149,160 in the U.S., according to Pew Research's definition and based on the latest Census Bureau income data. Pew defines the middle class as households earning between two-thirds and double the median income, which was $74,580 in 2022, according to the U.S. Census Bureau. Since over half of U.S. households were estimated to be in the middle class as of 2022, Pew says, it makes sense the jobs that offer those middle class incomes would vary. But some positions and industries tend to have higher shares of middle class workers. Notably, many of the jobs that are likely to ensure a middle class salary may not require a college education.

Persons: Pew Organizations: Pew, . Census, Survey, Armed, Workers, Bureau of Labor Statistics, Department of Defense, Public, CNBC Locations: U.S

☆ A shortage of young men in the workforce could weigh on housing, Social Security, and growth for years to come
▼ + stars: | 2024-06-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewAmerica's job market is mysteriously short of young men. Zack Mabel, a research professor at Georgetown University, theorizes that falling labor force participation among young men could impact the economy for at least several decades. AdvertisementStraining the economyThe economy appears to already be feeling the decline in male workforce participation. Besides the years following the pandemic, US workforce participation rate hasn't been that low since the 70s, World Bank data shows. There's no clear answer for how to get young men back into the workforce.

Persons: —, Carol Graham, That's, Graham, They're, Zack Mabel, Mabel, Meredith Whitney, Whitney, they're Organizations: Service, Brookings Institute, Bureau of Labor Statistics, Business, Georgetown University, World Bank, Bank, Wall, Brookings, Government, Social Locations: Brookings

☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

☆ The Covid-19 pandemic worsened a child care crisis, and it's costing U.S. businesses billions
▼ + stars: | 2024-06-08 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Policy advocates argue that child care, including for infants and toddlers, is an economic issue that affects all Americans, not just those with young kids. That is up from $57 billion in 2018, before the pandemic exposed and exacerbated holes in the system for working families and the companies that rely on them. Part of the nationwide solution is supporting what the group calls the "workforce behind the workforce" — early child care providers. "Supporting the early childhood workforce could include such things as making sure child care providers have access to benefits. "Programs that support additional training and education for child care providers are important as well."

Persons: Nancy Fishman, Fishman Organizations: Bureau of Labor Statistics, Bank of America, American, ReadyNation, CNBC

Nearly 78% of foreign-born men were in the labor force, compared to about 66% of native-born men. Foreign-born men had weekly earnings of $1,051, compared to $1,238 for native-born men, while foreign-born women had weekly earnings of $899, compared to $1,025 for their native-born counterparts. The foreign born were more likely to work in service, construction and maintenance jobs, among other occupations, which often pay less. Some 3.6% of the foreign born were unemployed last year – the same share as the native born. Just over 15% of foreign-born workers were White, and nearly 11% were Black.

Persons: Mario Tama Organizations: Getty, Foreign, of Labor Statistics, Labor Force, - Locations: American, Los Angeles , California, America

☆ U.S. adds a much-better-than-expected 272,000 jobs in May, but unemployment rate edges up to 4%
▼ + stars: | 2024-06-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At the same time, the unemployment rate rose to 4%, the first time it has breached that level since January 2022. The increase came even though the labor force participation rate decreased to 62.5%, down 0.2 percentage point. The survey of households used to compute the unemployment rate showed that the level of people who reported holding jobs fell by 408,000. A more encompassing unemployment figure that includes discouraged workers and those holding part-time jobs for economic reasons held steady at 7.4%. The household survey also showed that full-time workers declined by 625,000, while those holding part-time positions increased by 286,000.

Persons: Dow Jones, you've, Liz Ann Sonders, Charles Schwab, Joe Raedle Organizations: Labor Department's Bureau of Labor Statistics, Getty Locations: U.S, Miami , Florida

☆ Market backs off on hopes for interest rate cuts following strong jobs report
▼ + stars: | 2024-06-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. Beyond signaling a still-vibrant labor market, the data at the very least adds to the narrative that the Fed doesn't have to rush to lower interest rates. Even with the unemployment rate rising to 4% in May, the labor market appears vibrant. However, on the other side of the mandate, inflation is still running well above the Fed's target. Most gauges have prices rising annually at about a 3% rate, down significantly from the peaks of mid-2022 but still running hot.

Persons: I've, Liz Ann Sonders, Charles Schwab Organizations: New York Stock Exchange, Federal Reserve, Labor Statistics Locations: New York City

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