Latest news with #MiseryIndex
Forbes
21-04-2025
- Business
- Forbes
Stagflation Fears Rise: How To Prepare For Inflation & Unemployment
Unemployment combined with inflation is an economic phenomenon known as stagflation. Rising prices ... More and a slowing job market can put extreme pressure on household budgets. When the person in charge of the U.S. money supply predicts rising unemployment and inflation, people listen. Unemployment combined with inflation is an economic phenomenon known as stagflation. It is destructive, challenging to manage and rare. Find out who's concerned about stagflation, what's driving the worry, how you might be affected, and what you can do to prepare. Federal Reserve Chairman Jerome Powell made this prediction at an economic event in Chicago on April 15, according to The Telegraph: "So unemployment is likely to go up as the economy slows in all likelihood and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public." Powell leads the Federal Reserve, the central bank of the U.S. Known informally as "The Fed," the central bank manages the U.S. monetary policy and regulates banks. The monetary policy has two goals: stable prices and maximum employment. The Fed pursues those goals by adjusting interest rates, buying or selling bonds on the open market and fine-tuning how much cash banks must hold as reserves. When Powell predicted rising unemployment and higher prices—the two components of stagflation—he cited U.S. tariffs as instigating factors. U.S. President Trump has initiated, paused, restarted and raised tariffs since taking office. Tariffs in place when Powell spoke included: Tariffs are taxes imposed on imported goods. Importers pay the taxes when the goods arrive at a U.S. port. Tariffs can have positive and negative effects on an economy. One positive is a potential reduction in foreign competition, which should create jobs in the U.S. But tariffs also raise costs for businesses, encouraging labor cutbacks and higher prices. Higher prices can stifle consumer spending, which slows economic growth. More concerning is that tariffs can prompt other countries to raise taxes on U.S. exports. These retaliatory actions may offset any benefit from the initial tariff. Powell is not the only one predicting Trump's tariffs will raise unemployment and prices. According to Fox Business, an analysis from Goldman Sachs concludes that Trump's tariffs will negatively affect the overall U.S. job market. The Budget Lab at Yale University estimates prices will rise an average of 3% in the short term, with increases up to 87% on shoes and apparel. Stagflation is uncommon. It last hit the U.S. in the 1970s after a cutback in oil production outside the U.S. prompted then-President Nixon to ration fuel. The economy slowed, the labor market shrank and prices rose. In those days, people quantified the declining state of the economy by summing the inflation rate and the unemployment rate, a value called the Misery Index. In 1969, the Misery Index was 8.95. It eclipsed 17 in 1975 and 20 in 1980. By comparison, the Misery Index today is 6.6, with inflation at 2.4% and unemployment at 4.2%. A rising Misery Index could create a range of difficulties, such as: Stagflation is scary in part because it's hard to fix. The remedy for inflation is to slow the economy by raising interest rates. However, a slowing economy usually creates more unemployment. Efforts to stimulate the economy have the opposite trade-off. They may help with jobs but they will encourage higher prices. The Fed tried both strategies in the 1970s, first prioritizing jobs and then working to manage inflation. Attacking inflation with higher interest rates, while accepting the negative impact on employment, proved the better strategy. Still, the recovery was slow. The Misery Index remained above 11 from 1973 to 1984. Solid finances plus valued job skills help you manage rising prices and a tough labor market. Try these strategies: The more time you spend on these strategies, the better results you will see. Ideally, you would keep at it until your job is secure, credit card debt is repaid and you have an ample emergency fund. At that point, you can soften your spending restrictions—just don't abandon them, or you will have to repeat the hard work again in the future. If stagflation doesn't materialize, even better. You'll be financially strong and have the skills to reach your biggest financial goals.
Yahoo
28-03-2025
- Climate
- Yahoo
First Alert Weather: Weekend rip current risks and incoming pollen relief
Temperatures are slightly above average this afternoon, sitting in the upper 70s to lower 80s inland The beaches are in the 60s to lower 70s this afternoon with onshore winds out of the southeast. Tonight will be partly cloudy and dry with a low of 58. There won't be any rain tomorrow, so it's a good day to go out. Highs will be in the lower 80s in Jacksonville and 70s at the beaches. If you're heading to the beach, Friday and Saturday have a moderate to high rip current risk. Oak pollen numbers are sky high right now, ranking 'Very high' on our First Alert Allergy Tracker 'Misery Index.' Rain and a few afternoon storms move in on Sunday. That will help at least wash away some pollen temporarily. A round of rain and storms arrive again Monday evening from northwest to southeast. A few strong storms are possible, especially in Southeast Georgia. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Here's a look at your First Alert 7-Day Forecast: SATURDAY: Thickening clouds. Warm. High: 81 SUNDAY: Mostly cloudy with scattered showers/storms, especially in the afternoon. 60/80 MONDAY: Partly cloudy with an a few late PM showers/storms. 62/85 TUESDAY: Partly cloudy with an isolated AM shower. 62/82 WEDNESDAY: Partly sunny. Isolated afternoon shower. 63/82 THURSDAY: Mostly sunny and warm. 67/85 FRIDAY: Mostly sunny and very warm. 66/87 [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Yahoo
28-03-2025
- Climate
- Yahoo
FIRST ALERT WEATHER: Soaring oak pollen and some weekend rain
It's a cool start to Friday and another really nice day ahead. Today will be mostly to partly sunny with daytime highs near 80 degrees. Oak pollen counts were still sky high yesterday, registering a 100 on the 'Misery Index' for the second day in a row. Expect the same volume of oak pollen today. The weather stays mainly sunny and dry through Saturday. Saturday's the 'pick day' of the weekend, get your outdoor stuff done then. Sunday brings some rain and storms, keep the umbrellas handy. Another storm system approaches SE Georgia Monday evening and then NE Florida Tuesday morning. We're monitoring for the potential for severe weather Monday evening, especially in SE Georgia. Despite the rain to start next week, temperatures just keep going up. Expect warm temperatures all week next week. >>> STREAM ACTION NEWS JAX LIVE <<< TODAY: Mostly to Partly Sunny & Mild! High: 80 TONIGHT: A Few Clouds, Cool. Low: 58 SATURDAY: Partly Cloudy & Mild. 58/81 SUNDAY: Mostly Cloudy, Scattered Showers & Storms. 60/80 MONDAY: Partly Sunny & Warm. Isolated PM Showers. 62/85 TUESDAY: Isolated AM Showers, Partly to Mostly Sunny. 62/82 WEDNESDAY: Partly Cloudy. 63/82 THURSDAY: Partly Sunny. 64/85 [DOWNLOAD: Free Action News Jax app for alerts as news breaks] [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Yahoo
27-03-2025
- Climate
- Yahoo
First Alert Weather: Warm afternoons, sky high oak pollen before weekend showers
The First Alert Weather Team said oak pollen is 'very high' right now on the First Alert Allergy Tracker. This weekend, the rain will wash some of that pollen away. Here's what you can expect in the forecast: WATCH THE FORECAST | DOWNLOAD THE APPS Thursday hasn't been too bad of a day with sunny skies and temps in the 70s to 80 degrees inland. 60s Thursday afternoon at the beaches with onshore winds No rain Friday. Highs will be in the lower 80s in Jacksonville and 70s at the beaches. Moderate rip current risk on Thursday and Friday. Likely a high rip current risk this weekend. Warming trend again as we head into the weekend No rain through at least Saturday Oak pollen is sky high right now. 'Very high' on our First Alert Allergy Tracker 'Misery Index.' Rain moves in on Sunday, which will help at least wash away some pollen temporarily. Follow Action News Jax Meteorologists on Twitter for updates: Mike Buresh | Garrett Bedenbaugh | Corey Simma | Trevor Gibbs ALLERGY TRACKER: See what the pollen counts look like in our area LISTEN: Mike Buresh 'All the Weather, All the Time' Podcast INTERACTIVE RADAR: Keep track of the rain as it moves through your neighborhood SHARE WITH US: Send us photos of the weather you're seeing in your area ⬇️
Yahoo
27-03-2025
- Entertainment
- Yahoo
'Impractical Jokers' Star Joe Gatto Seeks Treatment At In-Patient Facilty Amid Sexual Assault Allegation
Joe Gatto is entering an in-patient treatment after multiple women accused him of sexual misconduct. The "Impractical Jokers" star canceled all upcoming tour dates, stating he's focusing on personal growth. This comes after allegations surfaced by a TikTok user who claimed that Joe Gatto assaulted her in 2023 after an event. Gatto is stepping away from the spotlight to seek professional help following sexual assault and harassment allegations from multiple women. In a statement, the "Impractical Jokers" star, 48, announced he is voluntarily entering an in-patient treatment program to focus on personal growth. "Having taken some time to reflect, I've decided to voluntarily enter an in-patient program to continue working on myself," he said. "I just want to thank my friends, fans, and especially my family for all of their support — never more so than over the last few days." A source confirmed to People Magazine that all of Gatto's upcoming tour dates have been canceled as he prioritizes his well-being. Sexual assault and harassment allegations against Gatto surfaced on March 20, when a TikTok user known as "joozyb" alleged that the comedian assaulted her when she was 19, though the videos were later deleted. "I got sexually assaulted by Joe Gatto, the 'Impractical Joker,'" she wrote in the now-viral post. In a second video, the accuser claimed the alleged incident occurred at a hotel following Gatto's stand-up show in Milwaukee in September 2023, shortly after he had reconciled with his wife. She did not provide explicit details about the alleged assault but stated that "some stuff happened." To support her claims, she shared screenshots of a DM exchange in which the "Misery Index" alum allegedly arranged for her to receive "two meet and greet passes" and complimented her appearance. According to the alleged victim, they first met earlier that day at a brunch, where she admitted to "fangirling" over him. She claimed they continued exchanging Instagram messages before and after the show. Gatto's accuser alleged that while she was intoxicated, their conversation became increasingly uncomfortable, saying: "I was drunk, whatever, and he was texting me all this stuff. And, like, it was starting to get a little weird, you know." As further evidence, she shared a photo of them posing together. She also claimed that Gatto placed their DMs on vanish mode to erase messages and provided her with details about his hotel stay. Expressing her hesitation about coming forward, she stated, "I've been wanting to tell people this for so long. It's hard with someone this big. I've like, tried in different ways, but it's hard with somebody this big. [I've] come to the realization that if I do say something, that I'm really saying something." Days after the first allegation of sexual assault, a former employee who worked with Gatto on "Impractical Jokers" accused him of inappropriate behavior in 2021, describing it as sexual harassment. The second accuser told the news outlet she first met him at a live show when she was 15. She alleged that once she turned 18, Gatto's behavior became flirtatious. The accuser shared that before starting her job after college, a former employee warned her that Gatto could be overly friendly and touchy. While working for him, she claimed he occasionally grabbed her inappropriately, requested back massages, and once invited her to his room to cuddle. Gatto's accuser also alleged that he frequently asked about her sex life. The accuser claimed that Gatto often boasted about being in an open relationship with his wife, Bessy. According to People, she claimed that Gatto privately messaged her on social media, calling her "hot," and displayed jealousy when she posted pictures with her boyfriend. If she rejected his advances or refused to flirt, she claimed he would act cold and dismissive at work the next day. The alleged victim described constantly feeling the need to keep him in a good mood, fearing retaliation or job loss. The accuser believes Gatto's alleged behavior was part of a broader pattern of emotional manipulation. Gatto and his wife, Bessy, tied the knot in 2013. However, the couple announced their separation in 2022, but in 2023, they reconciled. Sharing the news, the comedian took to Instagram at the time to post a beachside photo of them smiling together. In the caption, he reflected on their journey, writing: "10 years ago when we started out, I could have never imagined the absolute crazy ride with highs and lows our marriage has endured." He continued: "But there was always love. And me knowing that there is no one else I'd want to be my person. I love your compassion, your resilience, and your giggle. Thanks for this decade." "And I'm happy and hopeful that we will be able to get a few more in because we have proven with compassion, forgiveness, and an open heart we can do this. Together. Looking forward to more of it all, including laughing together, memory making with our incredible family, and of course…dogs," Gatto added, per People.
