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Rose Madeline Mula: If You Can't Stand the Heat
Rose Madeline Mula Writes: "It was with considerable trepidation, therefore, that I entered the kitchen of my hostess, the legendary actress, Joan Fontaine, one long-ago Thanksgiving morning, to offer my assistance. Acting was not Miss Fontaine's only talent. Not by a long shot. She was also a hole-in-one golfer, a prize-winning fisherwoman, a hot air balloonist, an accomplished horsewoman, and a pilot. 'When you've had as many husbands as I've had, Darling,' she'd quips, 'you learn all their hobbies.' And one hobby all hubbies shared in common was a love of good food. No problem. Joan was also a gourmet cook who studied at the Cordon Bleu in Paris. No wonder I was intimidated that day. more »
November 1, 2023 Chair Jerome Powell’s Press Conference on Employment and Inflation
CHAIR POWELL."Inflation has moderated since the middle of last year, and readings over the summer were quite favorable. But a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal. The process of getting inflation sustainably down to 2 percent has a long way to go. Despite elevated inflation, longer-term inflation expectations appear to remain well anchored, as reflected in a broad range of surveys of households, businesses, and forecasters, as well as measures from financial markets. The Fed’s monetary policy actions are guided by our mandate to promote maximum employment and stable prices for the American people. My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power, especially for those least able to meet the higher costs of essentials like food, housing, and transportation." more »
Ferida's Wolff's Backyard: Ahh, Autumn
Ferida Wolff writes: "It seems like a warmer Fall would alter the timing of when leaves change their color but trees seem to know better. The leaves are glowing with brilliant reds and yellows and starting to fall in huge numbers. I used to like to crunch them when I walked down the street. I still do." more »
U.S. Families' Experiences of the COVID-19 Pandemic: Evidence from the Survey of Consumer Finances
"This FEDS Note summarizes high-level findings from the COVID-19 questions, showcasing differences in families' experiences of the first years of the pandemic across income and education groups and connecting these differences to income and net worth measured in the SCF. In particular, lower-income families and families with lower levels of educational attainment were more likely to experience a reduction in work, which could reflect their lower incidence of telework and higher incidence of a severe COVID-19 infection. These differential employment experiences appear to map well to between-survey income growth across the income distribution, especially after accounting for unemployment benefits, which were temporarily expanded over this period." more »