NYLAF

Key line from Fed Chair Powell: "We think even with today’s cut, policy is still RESTRICTIVE." Translation: More rate cuts are coming. The Fed might pause for a bit, but Fed leaders see no need to keep rates this high since inflation has cooled so much.

#FOMC updated quarterly summary of economic projections (SEP), raising median projection for unemployment at end of 2024 to 4.4% (from 4% in June), representing increase from current level of 4.2%; median forecast for inflation at end of 2024 declined to 2.3%; median projection

Federal Open Market Committee statement: federalreserve.gov/newsevents/pre… #FOMC

ONC BOCES Deputy Superintendent and ASBO New York Past President Dr. Jenna Avery testifying today at the @RockefellerInst Foundation Aid Hearing in Laurens, NY, advocating on behalf of rural school districts across the state

Congratulations to our very own ⁦@jennabolton517⁩! ⁦@ASBONewYork⁩ Philip B. Fredenburg Memorial Award recipient!

⁦@ASBONewYork⁩ 2024! Great to be back with our friends.

Great to be at ASBO2024! ⁦@ASBONewYork⁩. Looking forward to seeing our friends.

Strong hiring in February (+275,000 jobs added) especially in healthcare and gov't. Healthcare +67,000 Gov't +52,000 Restaurants +42,000 Social aid +24,000 Construction +23,000 Retail +19,000 Couriers +17,000 Professional Biz +9,000 Manufacturing -4,000 Temp help -15,000

JUST IN: U.S. inflation was 3.1% (y/y) in January, down significantly from 6.4% a year ago. Falling prices for energy and many goods are really helping inflation cool off. **Rent and car insurance/repair are the big drivers of inflation now.**

Our team is growing! Join us! workforcenow.adp.com/mascsr/default…

JUST IN: Federal Reserve keeps interest rates unchanged at 5.25 to 5.5% But...lots of changes to the Fed statement. Key line: Rate cute appropriate when Fed "has gained GREATER CONFIDENCE that inflation is moving sustainably toward 2%." federalreserve.gov/newsevents/pre… #Fed

RT @LizAnnSonders: 4Q23 real GDP (quarter/quarter annualized) +3.3% vs. +2% est. & +4.9% in prior month

October CPI #inflation +3.2% year/year vs. +3.3% est. & +3.7% prior … core CPI +4% vs. +4.1% est. & +4.1% prior

Key line from Fed Chair Powell: "We’re being careful. We’re proceeding carefully.” Powell really sounds today like he's done hiking rates. There's a small chance of 1 more, but it's fading. Market now pricing in ~75% chance Fed is done.

JUST IN: US inflation was +3.7% y/y in September, a tad higher than expected and the same as August. High rent accounted for over half of the increase. Gas prices were also up. The good news is inflation growth slowed in September (up 0.4% for just the month v. 0.6% in Aug)

Wow. What a jobs report! JUST IN: The US economy added 336,000 jobs in September – that’s another strong month of hiring that blows away the 170,000 forecast. Unemployment rate: 3.8% (same as August) Wage growth: 4.2% y/y (above 3.7% inflation)

The key lines from #Fed Chair Powell: 1) "We are in a position to proceed carefully" 2) "We are prepared hold at a restrictive level until we’re confident that inflation is moving down" Translation: Rates aren't going much higher, but don't plan on cuts any time soon

Proud to be a part of this incredible @ASBONewYork educational session. Thank you to @BAvery_SFO for kicking off the day with a Leadership session!

RT @byHeatherLong: JUST IN: Inflation rose 3.2% y/y in July, a small uptick from 3% in June that was widely expected. Shelter/rent accounte…

July saw 187,000 job gains in a wide variety of industries, especially services. Healthcare +63,000 Social assist +24,000 Construction +19,000 Finance +19,000 Wholesale trade +18,000 Hospitality +17,000 Retail +9,000 Temp help -22,000 Warehouse -6,000 Manufacturing -2,000