In January 2024 , a federal judge blocked JetBlue Airways $3.8 billion deal to buy Spirit Airlines, rejecting a merger that he said would hamper competition and lead to higher fares. The ruling marks a victory for the U.S. Department of Justice, which stopped the JetBlue and Spirit deal from going ahead. The Data: Figure … Continue reading Federal Judge Blocks JetBlue’s $3.8 Billion Acquisition of Spirit Airlines
Month: January 2024
The Fed’s Interest Rate Toolkit
Federal Reserve (the Fed) Chair Jerome Powell describes the Fed’s interest rate tools as follows: “The Federal Reserve sets two overnight interest rates: the interest rate paid on banks' reserve balances and the rate on our reverse repurchase agreements. We use these two administered rates to keep a market-determined rate, the federal funds rate, within … Continue reading The Fed’s Interest Rate Toolkit
Cheerios Maker General Mills Cuts Sales As Price Hikes Hammer Demand
Price hikes, undertaken to offset steep input costs, primarily labor costs, have pushed consumers to buy smaller pack sizes for pantry staples and pet food, as well as opt for cheaper private-label alternatives.—Reuters, December 20, 2023 In this post, we look at the price hike that consumers face and use the model of demand and … Continue reading Cheerios Maker General Mills Cuts Sales As Price Hikes Hammer Demand
New York Rings in the New Year With a Pay Bump for Minimum-Wage Workers
The minimum wage rose to $16 in New York City and in the rest of the state the new minimum wage is $15. This recent pay bump is part of an agreement made last year between the Governor and the state Legislature, over the objections of some employers.—apnews.com
December Jobs Report
The labor market added 216,000 jobs in December. The Bureau of Labor Statistics showed the unemployment rate was 3.7% for the month, flat from the rate in November. The labor force participation rate ticked lower to 62.5%, down from 62.8%. Average weekly hours worked moved down slightly from 34.4 to 34.3.—finance.yahoo.com
Potato Volume Up, Price Down for Holidays
A beautiful, early spring means that plenty of potatoes are available for holiday repasts this year with favorable prices for consumers. Unlike 2022, potato farmers did not experience any weather disruptions this year.—thepacker.com
Inflation Eased in October
Inflation eased further in October, offering a dose of encouragement as the Federal Reserve looks for enough progress to let up on its fight to tame consumer prices and slow the economy.—washingtonpost.com