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US Federal Reserve Governor Jerome Powell’s Press Conference: Interest Rate, Inflation, and Economic Growth Analysis
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US Federal Reserve Governor Jerome Powell’s Press Conference: Interest Rate, Inflation, and Economic Growth Analysis

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

US Federal Reserve Governor

US Federal Reserve Governor Jerome Powell’s press conference included the following points:

First: The US Federal Reserve Governor reads the interest statement:

  • The US Federal Reserve is committed to returning inflation towards its specified target and optimal exploitation of the labor market.
  • It is natural to look at what has been achieved with these two goals by the end of this year.
  • Significant progress has been made on the inflation target, but inflation remains above target.
  • I assure citizens that the US Federal Reserve will do its utmost to bring inflation back toward its set target.
  • Interest rates were raised to 5.50% levels to curb high inflation.
  • Monetary policy has been tightened significantly to confront high inflation, and this policy will continue until the target is achieved.
  • The full impact of monetary tightening is not yet clear.
  • Labor market conditions remain strong but have slowed significantly.
  • Unemployment remains low, near 3.7%, and the rate of job creation has clearly declined, but labor market participation has risen since last year.
  • Inflation has slowed significantly this year, but is still above its target.
  • We welcome the recent developments regarding lower inflation, but we still want further declines to come.
  • The US Federal Reserve will take some time to achieve its inflation target, and this target may be achieved in 2026.
  • The US Federal Reserve understands that high inflation causes great hardship for citizens.
  • The US Federal Reserve has great determination to return inflation towards its set target.
  • The US Federal Reserve raised interest rates, cut the budget, and tightened monetary policy to bring inflation back toward the target.
  • The US Federal Reserve believes that monetary policy tightening is currently at or near its peak.
  • The US Federal Reserve is committed to making appropriate tightening monetary policy decisions, and maintaining tight monetary policy for a period of time to return inflation towards its specified target.
  • The US Federal Reserve will make its decisions during each meeting separately, in response to the upcoming economic data.
  • The US Federal Reserve is making every effort within its commitment to restore inflation towards its specified target and optimal exploitation of the labor market.

Second: US Federal Reserve Governor Jerome Powell answers press questions:

  • We believe the Fed is at or near peak interest rates.
  • The scenario of raising interest rates again is still within the US Federal Reserve’s options.
  • Members of the US Federal Reserve spoke about the path of reducing interest rates today.
  • There were expectations that interest rate cuts would be a topic of discussion in the future.
  • There is a possibility of an economic recession next year.
  • The US economy is doing very well, and this is a big surprise to us.
  • We expected an economic recession this year, but this did not happen due to the strength of the US economy.
  • Economic growth and strength of labor market conditions may affect inflation expectations.
  • The US Federal Reserve carefully monitors real interest rates.
  • The US Federal Reserve focuses on its decisions, and has nothing to do with what the markets think regarding upcoming monetary policy decisions.
  • The US Federal Reserve’s mission is to restore the goal of price stability and achieve optimal exploitation of the labor market.
  • We have made good progress on this, but we would like to make more progress.
  • If we have a strong economic growth rate, this means that it may take some time for inflation to return to its target, and this means that we may keep rates high for a while, and perhaps we may raise rates again.
  • Wages are growing at a pace that does not help bring inflation towards the target.
  • In general, it can be said that we welcome developments in the labor market.
  • Citizens are still living with high inflation, which they do not like.
  • Wages rise and help citizens cope with high inflation.
  • The US Federal Reserve will use all the tools at its disposal to return inflation towards the target and achieve price stability.
  • We don’t want an economic recession, and we don’t want unemployment to rise, even as we meet our inflation target.
  • The upcoming data will be very important regarding future monetary policy decisions.
  • The US Federal Reserve balances the risks between what has actually been done and what must be done in order to achieve its goals.
  • The US Federal Reserve is taking into account its concerns about keeping interest rates high for too long.
  • The US Federal Reserve sees signs that economic growth will decline next year.
  • The US Federal Reserve believes that inflation will continue to decline during 2024, although labor market conditions are still good.
  • We did not consider what circumstances might be appropriate for a rate cut.
  • We are currently wondering which neutral interest rate should be maintained after monetary tightening is ended.
  • The US Federal Reserve may start cutting interest rates before inflation returns to 2%.
  • I think we still have some time before we think about a rate cut.
  • The US Federal Reserve considers many factors before making interest rate decisions.
  • The high inflation we are experiencing is due to strong demand and lack of supply.
  • The current high inflation was unusual.
  • The US Federal Reserve worked to use its tools to reduce demand, and with the supply problem resolved, inflation began to decline.
  • Achieving the inflation target in the coming period may be difficult, and we will see that.

The US Federal Reserve Governor’s press conference has ended, the dollar index is at 102.89 points, down by approximately 1%, the spot gold price is at the 2014 dollar per ounce level, rising by 1.84%, Bitcoin stabilizes at a high of $42,000 with an increase of nearly 4%, and the Dow Jones Industrial Average It scores 36,996.87 points, an increase of 1.15%.

2023-12-13 22:41:15
#Urgent.. #Coverage #Federal #Reserve #Governors #press #conference #December

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Benoît Heilbrunn, ESCP Business School – The employer brand: the employee becomes a consumer of employment! – Strategies & Management
Business

Benoît Heilbrunn, ESCP Business School – The employer brand: the employee becomes a consumer of employment! – Strategies & Management

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

The drop in the unemployment rate is good news, except perhaps for companies which see the balance of power with their future employees reversing. While it often becomes easier than before to find work by crossing the street, negotiation conditions are more favorable to employees seeking qualified employment. Hence this paradox which consists of companies posting CVs as people looking for a job would do.


Many sectors are thus faced with two well-known marketing problems: on the one hand the attraction of new talents, on the other hand the retention of employees who are often tempted to look elsewhere due to the new opportunities offered by an economic situation of almost full employment. Hence the need for companies that are accustomed to the principles of efficiency and performance of Taylorism to claim to build a calming and fulfilling work environment. And all the more so since the company is increasingly subject to a transformative ideology which postulates that it must necessarily positively affect the lives of individuals and societies. This is why we cannot separate the question of purpose from that of the employer brand. Companies that talk the most about purpose also have a stronger propensity to develop their employer brand. Hence the temptation of a utopian discourse which would suggest that the world of work is truly idyllic.


Therefore, an employer branding strategy has the essential function of showing that the company is not simply a collective work space, but a real place of sociability and fulfillment. It’s about making the employee an actor in their work and showing that their tasks are part of a larger, meaningful whole. Rather than focusing on the economic dimension, and therefore on the purely transactional question of work, it is a question of emphasizing its properly experiential dimension. And the essence of the experience economy is to put the consumer to work by ensuring that they are both producer and consumer of their experience. Which reminds us of a fundamental dimension of work, namely that we produce ourselves as we work. It is about cooperating in the double sense of working together and doing common work. This is why employer brands benchmark themselves through numerous surveys according to criteria of trust, respect, pride, when it is not a question of camaraderie.


However, it is clear that it is most often in companies that claim that it is good to live and work within them that invisible games of terror, power and anonymization are deployed. By considering the employee as a customer who must be seduced, it is a question of bringing work into the field of consumption. By disguising ourselves behind a discourse of emancipation and fulfillment, the aim is to discourage any desire to zap the behavior of employees considered as simple consumers. A bit as if work were just a commodity, which goes against the very idea of ​​an employer brand.

2023-12-11 23:04:54
#Benoît #Heilbrunn #ESCP #Business #School #employer #brand #employee #consumer #employment #Strategies #Management

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Economists predict that Czechs will start to feel better next year TN.cz
Business

Economists predict that Czechs will start to feel better next year TN.cz

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

According to economic experts, Czechs will be better off next year. Thanks to lower inflation, real wages should start to rise again. The standard of living should also rise with them.

The average gross wage in the third quarter of this year rose to 42,658 crowns per month, but inflation, i.e. the rise in prices, was even faster. So, in reality, we have become poorer. “If we were to compare the price that was in 2020, before prices started to rise, with today’s prices, today they are more than 40 percent higher,” adds publicist and economist Lenka Zlámalová.

But it should be better soon. “In the next year, wages in the private sector will increase more significantly, inflation will decrease to the two percent inflation target, which will lead to the fact that the price increase will not be nearly as brisk as this year,” predicts economist Pavel Peterka from the Roklen company.

And other economic forecasts also look optimistic. “I doubt that unemployment would increase. The market is overheated, we have a great demand for employees and there is a lack of new people,” thinks Chief Economist of CFG Vladimír Pikora.

That’s how the hard times seem to end. “In the Czech Republic, anyone who wants to work and support a family has no problem in principle. So if we wanted to look at the year 2024 very simply: Prices will be slower, living standards will rise, real wages will rise,” summarizes Peterka’s outlook for the future.

luk, TN.cz

2023-12-06 17:27:00
#Economists #predict #Czechs #start #feel #year #TN.cz

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Jokowi Imposes New UMR Requirement for Regional Heads
News

Jokowi Imposes New UMR Requirement for Regional Heads

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

CNN Indonesia

Saturday, 11 Nov 2023 09:57 IWST

Jokowi requires regional heads to set a maximum UMR of November 21 2023, to be implemented as of January next year. (CNN Indonesia/Adhi Wicaksono)

Jakarta, CNN Indonesia —

President Joko Widodo (Jokowi) requires regional heads to determine wages The maximum regional minimum (UMR) is 21 November 2023. In this way, the new UMR will be implemented as of January next year.

This obligation is contained in the new regulations regarding the determination of minimum wages for workers, namely Government Regulation Number 51 of 2023 concerning Amendments to Government Regulation Number 36 of 2021 concerning Wages.

In the regulation signed on November 10 2023, governors and/or regional heads in each province are required to determine the UMR no later than November 21 each year. The rules will apply from January 2024.

“The first adjustment to the provincial minimum wage is made by the governor or acting governor no later than November 21 of the following year,” reads Article 29 paragraph (1) in the regulation.

The rules also explain that if November 21 coincides with a holiday or national holiday, then the announcement must be made one day before, not one day after November 21.

The UMR, which is set every November 21, also comes into effect on January 1 of the following year.

Governors or regional heads are required to issue new minimum wage determinations every year in their regions. Therefore, wages will always be adjusted to the new minimum wage value which is changed every year.

The value of the minimum wage must also exceed the average household consumption divided equally by the number of household members working in the area.

Minister of Manpower Ida Fauziyah confirmed that this regulation is better than the previous regulation. This is also to ensure that the gap or disparity in UMR between regions is not too large.

“This increase in the minimum wage is a form of appreciation to fellow workers/laborers who have contributed to our economic development so far,” he said.

(tst/pta)

2023-11-11 02:57:30


#Jokowi #requires #UMR #set #November #effective #January

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Understanding Wealth in America: Insights from Forbes, Federal Reserve, and Charles Schwab
News

Understanding Wealth in America: Insights from Forbes, Federal Reserve, and Charles Schwab

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Michael Jordan debuts on Forbes’ list of richest Americans

Forbes’ list of the 400 richest Americans has a combined $4.5 trillion. Find out who headlines the list.

What does it take to be wealthy in 2023? A million dollars in the bank? Two million? How about a salary in the high six figures?

In different ways, the average American family feels both wealthier and poorer now than a few years ago.

Median household wealth hit $192,900 last year, up 37% since 2019, the largest jump in the history of the Federal Reserve’s Survey of Consumer Finances.

But inflation also hit a 40-year high in 2022, and in 2023, interest rates surged to the steepest mark in 22 years, developments that left everyone’s purse feeling a bit lighter.

Many Americans still strive for that first million. Yet, thanks to inflation, an item that cost $1 million in 2019 would cost $1.2 million today.

In a recent survey of 2,000 Americans by the personal finance site LendingTree, 59% said they do not believe they will ever become wealthy.

Here, then, are five numbers that illustrate what it means to be wealthy in America today.

$2.6 million

That lofty sum represents the net worth of the median American family in the upper 10% of income, a range that most of us would deem wealthy. The figure comes from the federal Survey of Consumer Finances, released Wednesday.

“Generally speaking, we might consider the top 10% of households by income as wealthy,” said Cristian deRitisdeputy chief economist at Moody’s Analytics.

Household wealth swelled at a record pace between 2019 and 2022. The government handed out an unprecedented series of stimulus checks. Lockdowns kept Americans at home and encouraged saving. Stocks and home values surged.

But inflation and rising interest rates have slowed the celebration.

“The market was down last year, and it still has not recovered from the peaks of late 2021, so there’s that,” said Robert Brokampsenior retirement adviser at The Motley Fool and a certified financial planner.

$483,000

That is how much Americans believe they would need to earn in a year to be richaccording to an online survey of 2,521 adults conducted for Bankrate by YouGov on June 5-7 2023.

Sound daunting? The number is more than six times the $75,203 in average salary earned by full-time workers in 2021, as reported by the U.S. Census.

In the Bankrate survey, 72% of Americans said they feel financially insecure because of lingering inflation and rising interest rates.

Financial experts caution, though, that income doesn’t always equal wealth.

“You can be making half a million dollars, but how many assets do you have? How much debt do you have?” said Elizabeth Ayoolapersonal finance writer at NerdWallet.

$2.2 million

That’s how much net worth an American needs to be considered wealthy in 2023, according to the Charles Schwab Modern Wealth Survey.

The survey, which polled more than 1,000 adults online in March, asked Americans how much money a person in their area would need to be wealthy.

It’s an annual survey. You might expect the figure to rise a little bit every year, along with inflation. But you would be wrong. Back in 2020, survey-takers opined that Americans needed $2.6 million to be wealthy.

“Surveys like this are interesting, because they are asking opinions, and they’re about emotions,” said Rob Williams, managing director of financial planning, retirement income and wealth at Schwab. “I think the story, to us, is more what it feels to be wealthy.”

$560,000

That sum is the average net worth of Americans who actually feel wealthy in 2023, as measured in the same Schwab survey.

Nearly half of Americans feel wealthy, Schwab reports, and their average household wealth falls well short of the $2.2 million to which they aspire.

Simply put, “you can feel wealthy and have less money,” Williams said.

When asked to describe wealth in their own terms, Americans talk about money and assets. But they also speak of intangibles: well-being, health and the freedom to spend time with loved ones.

“That’s encouraging,” Williams said.

The real recipe for being a millionaire: Savings, returns and time – that’s all

$1 million

The term “millionaire” may have lost some of its luster, but it remains a benchmark of American wealth.

“There’s no question that $1 million is a magic number,” said Matt Schulz, chief credit analyst at LendingTree.

“It doesn’t mean your life is easy or that you’re Jeff Bezos or Bill Gates, but it does mean that you have a level of wealth that most people can only dream of attaining.”

Vanguard, the investment management company, defines $1 million in investments as high net worth.

The average American family now reports a net worth of nearly $1.1 million, according to the new Fed survey. That sounds like a lot of money. But the super-rich skew the average.

The median American family, representing the midpoint among all families, holds $193,000 in net worth, the survey says.

Financial advisers often say that wealth isn’t a number so much as a feeling. For many Americans, it feels like security.

The Consumer Financial Protection Bureau offers a handy calculator of financial well-being. It asks, among other things, whether you could handle an unexpected expense, and whether a wedding or birthday gift might strain your finances, and whether you have money left over at month’s end.

Brokamp, of Motley Fool, puts it more succinctly:

“Can you pay your bills, can you accomplish your goals and can you withstand a financial shock?” he said. “If you can answer yes to those, you’re doing pretty well.”

2023-10-24 13:18:15


#Heres #wealthy #means #America #numbers

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The Highest Paid Football Players in the World 2023: Messi, Ronaldo, Neymar, and More According to Forbes
Sport

The Highest Paid Football Players in the World 2023: Messi, Ronaldo, Neymar, and More According to Forbes

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Lionel Messi, Cristiano Ronaldo and Neymar are among the highest paid football players in the world in 2023, according to Forbes

The three players have an estimated combined income of half a billion dollars and have made big moves over the past year.

“Messi Mania” caused a stir in South Beach this summer when the seven-time Ballon d’Or winner joined Inter Miami in a historic MLS deal. The news came after widespread speculation that the former Paris Saint-Germain star would join the Saudi Pro League or return to FC Barcelona.

Article continues below

Ronaldo and Neymar made the list in part thanks to salaries paid by the Saudi Pro League, an arm of the Saudi Arabian Public Investment Fund that also powers LIV Golf. Ronaldo left Manchester United to join the up-and-coming league and Neymar is one of the new arrivals after leaving Paris Saint-Germain, where he was Messi’s teammate for two seasons.

The highest paid players in the world according to Forbes

1. Cristiano Ronaldo – 260 millions of dollars

2. Lionel Messi – $135 million

3. Neymar Jr. – 112 millions of dollars

4. Kylian Mbappé – $110 million

5. Karim Benzema – 106 millions de dollars

2023-10-15 10:12:22
#Ronaldo #Mbappé #Benzema #highest #paid #player #world #revealed #Goal.com #English

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