High-inflation metros have a median 2.9% jobless rate. Low-inflation towns? 3.5% unemployment,
Is the Federal Reserve silently rooting for layoffs to help its battle with stubbornly high inflation?
Geography helps us see the Fed’s challenges in taming inflation. Mull over these 23 local economies, sliced into two groups ranking their latest monthly cost-of-living increases. Please note the size of this geographic pricing gap. One-year increases in the local cost of living indexes run from 9% in Miami to 3.1% in Anchorage.Now consider the varied economic performance in these 23 job markets.
Or ponder one-year increases in weekly wages. The median raise was 2.4% in high-inflation metros, with 10.7% in Houston . Contrast that with a 1.5% median pay hike in low-inflation regions – with a drop of 0.8% in Boston, the group’s worst. Smaller raises: less inflation. However, 4.9% isn’t acceptable. Other price measures tell a similar tale. So what secret sauce will fully tame prices?
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Williams confident Fed is on the path to restoring low, stable inflationNew York Fed President John Williams said Tuesday he was confident the Fed is on the path to restoring price stability.
Read more »
Americans' confidence in Powell hits a low mark for a Fed chief, poll showsAmericans' confidence in Federal Reserve Chair Jerome Powell's economic stewardship has skidded to the lowest of any recent U.S. central bank head, according to a Gallup poll released Tuesday that also showed broad doubts about the country's economic leadership overall.
Read more »
Fed's Williams: Fed has not said it's done raising ratesFederal Reserve Bank of New York President John Williams told the Economic Club of New York on Tuesday that the Fed needs to be data-dependent with mo
Read more »
13 Best High-Protein, Low-Carb Snacks for Weight Loss, According to DietitiansAfter stocking up on these RD-approved high-protein, low-carb snacks, working toward weight loss will no longer feel like an arduous chore.
Read more »
Premature for Fed to call end to rate hikes with inflation still high, Williams saysNew York Federal Reserve President John Williams said on Tuesday it is too soon to say whether the U.S. central bank is done raising interest rates, arguing that if more action is needed policymakers won't hold back.
Read more »
Fed's Williams warns inflation still too high, will 'take time' to return to 2%New York Federal Reserve President John Williams said that credit conditions will play a key role in his decision-making for future interest rate hikes.
Read more »