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Bringing Inflation Down: Federal Reserve Vice Chair Lael Brainard At the Clearing House and Bank Policy Institute 2022 Annual Conference
"While the moderation in monthly inflation is welcome, it will be necessary to see several months of low monthly inflation readings to be confident that inflation is moving back down to 2 percent. How long it takes to move inflation back down to 2 percent will depend on a combination of continued easing in supply constraints, slower demand growth, and lower markups, against the backdrop of anchored expectations. With regard to supply constraints, a variety of indicators are showing signs of improvement on delivery times and supplies of some goods. In addition, labor force participation showed a welcome increase in the August employment data, particularly in the boost in participation among women in the core working years of 25 to 54 years of age." ' more »
Board of Governors: Minutes of the Federal Open Market Committee June 14–15, 2022; Consumer Price Inflation Remained Elevated
Total nonfarm payroll employment rose solidly in April and May, though the pace of increase was slower than in the first quarter, and the unemployment rate remained unchanged at 3.6 percent. The unemployment rates for African Americans and for Hispanics were little changed, on net, though both rates remained noticeably higher than the national average. On net, the labor force participation rate edged down between March and May, while the employment-to-population ratio was unchanged. The private-sector job openings rate, as measured by the Job Openings and Labor Turnover Survey, edged lower in April but remained at a high level. Nominal wage growth remained elevated, with average hourly earnings having risen 5.2 percent over the 12 months ending in May, and the increases were widespread across industries. Consumer price inflation remained elevated. Total PCE price inflation was 6.3 percent over the 12 months ending in April, and core PCE price inflation, which excludes changes in consumer energy prices and many consumer food prices, was 4.9 percent over the same period. more »
Julia Sneden Wrote: Going Forth On the Fourth After Strict Blackout Conditions and Requisitioned Gunpowder Had Been the Law
Julia Sneden wrote: "Being outdoors on a humid North Carolina night amid fireworks and fireflies has become my favorite July Fourth memory. Oh, these days I am happy to watch the various displays on television, in air-conditioned comfort, but it can’t replace seeing my boys’ awed faces, or the sound of their “oohs” and “wows!” or the relaxed, casual feel of the impromptu crowd. It was Carl Schurz, a 19th century German immigrant who grew up to become a US Senator and later on was the Secretary of the Interior, who gave us the famous remark: 'My country, right or wrong: if right, to be kept right; and if wrong, to be set right.' " more »
Women's Congressional Policy Institute Weekly Legislative Update: Exempting Breastfeeding Women & Jury Duty; Update on Women’s Health, Mental Health, Homelessness”
Women's Congressional Policy Institute Weekly Legislative Update: Meeting Veterans’ Full Needs, Exempting Breastfeeding Women & Jury Duty; Update on Women’s Health, Mental Health, Homelessness; Women’s Business Centers Improvement Act of 2022, independent investigation & prosecution of sexual harassment, independent investigation and prosecution of sexual harassment under the Uniform Code of Military Justice.
Weekly Legislative Update
Apr… more »