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These service industries (fast food and budget-minded hotels) need to figure out fast how to innovate to increase productivity. They need to streamline. This means less workers but at much higher compensation, for example. Offer performance bonuses, profit sharing, etc.
Federal Reserve announced today it is not raising the Fed Funds rate this month.
ad says
Federal Reserve announced today it is not raising the Fed Funds rate this month.
Unfortunate.
I wonder if the Fed will continue QT when inflation reaches below 2% annually, or will it hold steady its balance sheet of federal government bonds
If the Fed "holds steady" that will mean when the low interest bonds mature the Fed must then sell the much higher rate bonds to keep up the balance sheet. Interesting to see if there is enough demand for new bonds without even higher rates.
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
ad says
So their total assets will decrease as the short term bonds expire and not replaced with newer short term bonds.
That would be the QT you mentioned, not holding steady.
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
ad says
I just hope the Fed does not lose a lot of money if they are selling US Treasuries before their expiration date.
I suspect that they are doing what they are doing with MBS's in that they are really not selling, just not buying letting the value drop as people pay down / pay off / refinance their loans.
Gas fell ~$1 over the last month in my neck of the woods.
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October 2023 inflation numbers (i.e., CPI)
12 month: 3.2%
1 month: 0.2%
recall 12 month CPI peaked around 9.1% back in June 2022 and this was the highest annual CPI since around 1981
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net