While there is a broad-based slowing among some of the near-term measures of underlying PCE inflation, all the year-over-year measures on the dashboard are still elevated relative to the FOMC's price stability mandate. atlfed.org/47O8rHa
October 29: We’ve updated our Taylor Rule Utility data by incorporating #BEAdata in addition to updated nowcasts from the @ClevelandFed and Atlanta Fed: atlfed.org/4e1xhXE.
ALT This graphic announces an upcoming Federal Open Market Committee press conference. The image features the Federal Reserve headquarters building (Eccles Building) with its distinctive white marble facade and classical columns, set against a deep blue sky. Text at the top states "Watch live October 28 at 2:30 p.m. ET" in dark blue font. The bottom portion displays a dark blue banner containing the Federal Reserve System seal on the left side, with text reading "FOMC PRESS CONFERENCE" and "Alternate player: https://www.youtube.com/FederalReserve/" in white font on the right.
Business execs say their firms are spending more than $1,000 per employee on AI this year, but large firms are outpacing small ones. atlfed.org/4yIjmwT
Although mortgage rates rose, homeownership affordability declined only slightly in August due to more moderate growth in home prices. Homeownership affordability declined marginally from July to August, down by 0.6%, to the lowest level since July 2024.
atlfed.org/49LVIoH
More highlights of the recent update to our Home Ownership Affordability Monitor (HOAM) in the thread below.
Just over 82% of all metros in the US were considered unaffordable in August (i.e., the median-income household in the metro area would need to spend more than 30% of its annual income to afford the median-priced home).
Use our interactive Home Ownership Affordability Monitor for more insights on national and local homeownership affordability trends. atlfed.org/49LVIoH
#SmallBusiness owners: We are seeking responses to the Small Business Credit Survey, which generates reports throughout the year to provide insights to policymakers, service providers, and lenders. Set aside a few minutes to make your voice heard: atlfed.org/4exJao8.
ALT Graphic with text:\n\nRespond now!\n\nSmall Business Credit Survey\n\nFederal Reserve Banks of Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, St. Louis, San Francisco
A recent Policy Hub paper shows that while shipping cost changes usually have little effect on producer prices, broad and persistent shocks—like those during the pandemic—lead to much stronger and delayed pass‑through costs. These findings suggest that the economic impact of trade‑cost shocks depends not only on their size but on how widespread and long‑lasting they are, which is critical for policymakers assessing future inflation risks: atlfed.org/3TZLX2B.
While there is a broad-based slowing among some the near-term measures of underlying CPI inflation, all the year-over-year measures on the dashboard are still elevated relative to the FOMC's price stability mandate. atlfed.org/4ygRorT
October 14: We’ve updated our Taylor Rule Utility data by incorporating #BLSdata in addition to updated nowcasts from the @ClevelandFed and Atlanta Fed: atlfed.org/4Bpb67R.