This is a Reference Guide to accompany the Top of Mind with SIFMA Insights podcast, “What to Look for at Jackson Hole.” Inside, we define terms and provide charts for topics we discuss in the podcast including:

• Fed Funds Rate: Currently 5.25%-5.50%. Interest rate at which banks lend money to each other, typically on an overnight basis. Raising the target rate reduces the money supply and causes other market rates to rise, dampening consumer and business spending, slowing economic activity, and reducing inflation.
• Inflation: Currently, CPI 3.3%/Core CPI 4.7%/PCE 3.0%/Core PCE 4.1%. Reflected quantitatively by an increase of an average price level of a basket of selected goods and services in an economy and represents the rate of decline of purchasing power of a given currency over some period of time.
• Labor Market: Current unemployment rate 3.5% (# unemployed people as a percentage of the total labor force); change in payrolls 187K (# jobs added or lost in an economy), and wage growth +4.4% Y/Y (measure of earnings for all private employees).

For more, follow The SIFMA Podcast wherever you get your podcasts.

 

 

Author

Katie Kolchin, CFA
Managing Director, Head of Research

Related Resources

• The SIFMA Podcast

  Podcast: What to Look For at Jackson Hole

• SIFMA Research

  US Economic Survey, Mid-Year 2023