- Story Log
User | Time | Action Performed |
---|---|---|
-
A million-dollar stay: How Davos locals gouge the global elite
Rental prices in Davos, Switzerland during the World Economic Forum (WEF) have become a spectacle of the absurd. However, for local landlords this is not something outrageous but merely business as usual — a prime opportunity to capitalize on the presence of the global elite to generate substantial income. With only around 50 fully booked hotels and a limited number of vacation homes providing about 25,000 beds for visitors, Davos is pushing its capacity limits. This falls far short of what’s needed for a globally significant event such as the WEF. Even participants staying in nearby Klosters, Bad Ragaz, or even ... (full story)
- Comments
- Subscribe
-
- Older Stories
post: CHEVRON CEO: CHEVRON MAKES SHIP BY SHIP DECISIONS ON THE RED SEA VOYAGES. post: CHEVRON CEO: CHEVRON SEES DYNAMIC AND VOLATILE RISKS IN RED SEA. post: CHEVRON CEO: CHEVRON HAS NOT MADE ANY FUNDAMENTAL CHANGES TO SHIPPING ROUTES. post: CHEVRON CEO: US SHALE PRODUCTION CAN GO HIGHER.
Labor market figures this morning have kicked off a big week of economic data for the UK in a promising way, with wage growth a particular highlight from the report. For a long ...
Business activity dropped sharply in New York State, according to firms responding to the January 2024 Empire State Manufacturing Survey. The headline general business conditions ...
-
- Newer Stories
The Federal Reserve won’t deliver the six interest-rate cuts traders are betting on for 2024 unless the US somehow succumbs to a “deep recession,” according to Harvard University ...
Thank you, David Wessel, and thank you to Brookings for the opportunity to speak to you today. In the second half of 2023, I gave a series of speeches about the apparent conflict between the strength of economic activity in the third quarter and continued progress toward the Federal Open Market Committee's (FOMC) 2 percent inflation goal.1 I said then that "something's got to give"—either activity needs to moderate, or progress on lowering inflation is going to stop. By late November, the latest economic data left me encouraged that there were signs of moderating economic activity in the fourth quarter, but inflation was still too high. As of today, the data has come in even better. Real gross domestic product (GDP) is expected to have grown between 1 and 2 percent in the fourth quarter, unemployment is still below 4 percent, and core personal consumption expenditure (PCE) inflation has been running close to 2 percent for the last 6 months. For a macroeconomist, this is almost as good as it gets. But will it last? Time will tell whether inflation can be sustained on its recent path and allow us to conclude that we have achieved the FOMC's price-stability goal. Time will tell if this can happen while the labor market still performs above expectations. The data we have received the last few months is allowing the Committee to consider cutting the policy rate in 2024. However, concerns about the sustainability of these data trends requires changes in the path of policy to be carefully calibrated and not rushed. In the end, I am feeling more confident that the economy can continue along its current trajectory. Let me start with the data on economic activity that has brought me to this view, and then I'll talk about the labor market, financial conditions, and inflation. I'll conclude with what I think the implications are from all that for monetary policy. First, economic activity has moderated. Af post: Fed governor Chris Waller: Rate cuts are coming into view but the process should be “carefully calibrated and not rushed.” As long as growth is fine, “I see no reason to move as quickly or cut as rapidly” as the Fed has in past cutting cycles. pic.twitter.com/Noyjq02VeM post: *WALLER: NO REASON TO MOVE AS QUICKLY, CUT AS RAPIDLY AS IN PAST *WALLER: FED CAN CUT `THIS YEAR' IF INFLATION DOESN'T REBOUND *FED'S WALLER: WHEN CUTS BEGIN, SHOULD BE METHODICAL AND CAREFUL post: Fed's Waller: Data In Last Few Months Is Allowing Fed To Consider Cutting Policy Rate In 2024 post: FED'S WALLER: THIS VIEW IS CONSISTENT WITH FED POLICYMAKER PROJECTIONS FOR THREE 25-BPS RATE CUTS IN 2024.
The 54th annual gathering of the World Economic Forum begins today in the small Alpine resort town of Davos. The invitation-only meeting brings nearly 2,800 leaders from 120 ...
- Story Stats
- Posted: Jan 16, 2024 9:56am
- Submitted by:Category: Entertainment NewsComments: 0 / Views: 5,116