Taylor Swift’s ‘Eras Tour’
Is Boosting the Economy, , Federal Reserve Says.
The Philadelphia Federal Reserve released its 'Beige Book' on July 12, 'Billboard' reports.
The report is released eight times annually and details the economic state of American cities.
The latest release indicates that
hotels are being booked more than they
have been in years due to Swift's fans.
Despite the slowing recovery in tourism in the region overall, one contact highlighted that May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of guests for the Taylor Swift concerts in the city, Philadelphia officials, via statement.
Cincinnati also revealed that
Swift has boosted its economy.
Taylor Swift is a force
to be reckoned with, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via statement.
The economic impact Swift
creates is staggering, as fans
travel from far and wide to
attend her concerts, filling hotels,
restaurants and local attractions.
, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via statement.
Swift’s influence on tourism is a testament to her ability to captivate audiences and drive economic growth, Julie Calvert, president/CEO of tourism agency Visit Cincinnati, via statement.
Chicago also says that it surpassed hotel occupancy records last month when Swift was in town, with hotel revenue amounting to
$39 million during the first weekend of June
Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024.
On the morning of May 15, both the S&P and the
Nasdaq hit all-time highs after new data suggested
inflation may be easing in line with expectations.
Quartz reports that the Dow Jones Industrial Average
is also inching toward the record-breaking
40,000 mark, which it almost hit in March. .
According to the latest Bureau of Labor
Statistics data, April saw the Consumer Price
Index, a key gauge of inflation, rise by 3.4%.
At the same time, consumer prices
increased by 0.3%, slowing slightly
from March's 0.4% increase.
The latest data also shows that core prices,
which don't include food and energy, saw the lowest
increase since April of 2021, rising just 3.6%. .
As a result, investors have a sense of
renewed hope that the Federal Reserve will
begin to cut interest rates at some point in 2024.
The latest inflation data was released one day
after the Producer Price Index, which
measures wholesale inflation, increased 0.5%. .
Over the past year, the
index has increased 2.2%.
Shortly after markets opened, the Dow
jumped up 147 points, hitting 39,705, while the
S&P 500 and the Nasdaq saw 0.5% increases.
Shares in GameStop were down 30% after
experiencing a boost earlier this week by
the online return of investor "Roaring Kitten."
Credit: Wibbitz Top Stories Duration: 01:30Published
Consumer Outlook , Plunges Amid Fears of , More Price Hikes Ahead.
CNN reports that sentiment about the economy among
consumers in the United States has plummeted
to the lowest level in the past six months.
According to the latest consumer survey by the
University of Michigan, consumers are also bracing
for more price increases in the year ahead. .
The consumer expectations gauge,
which is closely monitored by the White House,
dropped 13%, representing the most significant
single month decline since mid-2021.
The latest news is still better than
last May when inflation was at 4%
compared to the current 3.5% reading.
However, CNN points out that despite inflation
being lower than the same time last year, the numbers
have been moving in the wrong direction.
The trajectory has shifted
economist expectations for
the Federal Reserve to cut rates. .
The latest Fed report saw expectations
for year-ahead inflation increase
to 3.5% from the 3.2% forecast in April. .
At the same time, long-run
expectations for inflation also
increased to 3.1% from April's 3.0%. .
According to Chicago Federal Reserve
President Austan Goolsbee, the latest data , "bodes awful for progress on inflation.".
There isn’t, at this time,
much evidence in my view that
inflation is stalling out at 3%, Austan Goolsbee, Chicago Federal Reserve President, via CNN
Credit: Wibbitz Top Stories Duration: 01:31Published
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
By mid-afternoon, the Dow had fallen
1.4%, the S&P 500 went down 1.6%,
and the Nasdaq dropped 1.8%.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The warning comes after Iran
accused Israel of a deadly airstrike
on a consulate in Damascus, Syria. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
Brent crude futures jumped up to $90.42
a barrel, and West Texas Intermediate crude
futures increased to $86.65 a barrel.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
CNN reports that Americans' opinions of
the economy have dipped in the past few
months amid persistently high inflation.
The geopolitical fears come as investors are already
contending with concerns that the Federal Reserve could
wait to bring interest rates down from a 23-year high.
Officials at the Fed have signaled that further rate
hikes could still be on the way if the central
bank's efforts to fight inflation stall.
Credit: Wibbitz Top Stories Duration: 01:31Published
Federal Reserve Posts Massive, $114 Billion , Loss in 2023.
On March 26, the Federal Reserve
announced a record-breaking net
negative income of $114.3 billion in 2023.
Reuters reports that the loss follows
$58.8 billion in net income in 2022. .
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
As a result of low rates and large
levels of bond holdings, the Fed has
earned significant profits in recent years.
Last year, the Fed's audited interest expenses for
banks' reserve balances reached $176.8 billion,
an increase of over $116 billion from 2022.
In 2023, the Fed's interest payouts from
its reverse repo facility were $104.33 billion,
increased from $41.9 billion the year before.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
At the close of 2023, the deferred
asset stood at $133.3 billion.
As of March 20 of this year, that number
had risen to $157.8 billion with no
indication of how much larger it could get.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset
Credit: Wibbitz Top Stories Duration: 01:30Published
The first trailer for 'It Ends With Us' is here and it's soundtracked by a song from star Blake Lively's good friend, Taylor Swift. The film is an adaptation of Colleen Hoover's novel of the same name. It sees Lively play Lily Bloom, a woman who overcomes a traumatic childhood to embark on a new chapter in Boston, where she chases her lifelong dream of opening her own business, a flower shop. Along the way, she meets charming neurosurgeon Ryle Kincaid (played by Justin Baldoni), whom she sparks an intense connection with.
Credit: The Hollywood Reporter Duration: 01:50Published
Taylor Swift and Travis Kelce are enjoying a little getaway in Europe ahead of the singer's next slate of shows in Stockholm ... and they couldn't pick a more.. TMZ.com
Taylor Swift and Kim Kardashian are among the biggest celebs being blocked en masse on social media -- and it all has to do with the Israel-Palestine war, among.. TMZ.com
Travis Kelce's teammate, Harrison Butker, is in a bit of hot water with some Swifties ... who are furious with the Chiefs kicker for the way he evoked Taylor's.. TMZ.com
Travis Kelce has seen Taylor Swift's "Eras" show in five different cities, but he's nowhere close to getting tired of it just yet ... 'cause he said her most.. TMZ.com
The Most Famous Pizza Styles , From Around the World.
Cozymeal compiled a list of
the 10 most famous styles of pizza
from around the globe. Here they are:.
Neapolitan Pizza, This pizza started it all. It typically has a
thick, bready crust with slightly charred edges
and is topped with fresh ingredients.
New York Style, This style was created by Italian immigrants
in New York. While it resembles Neapolitan, the
crust is thinner and the pizza is typically sold by the slice. .
Chicago Deep-Dish, Resembling more of a pie, this type
of pizza has a tall crust. The middle is filled with cheese, meats and veggies with the sauce layered on top.
Chicago Deep-Dish, Resembling more of a pie, this type
of pizza has a tall crust. The middle is filled with cheese, meats and veggies with the sauce layered on top.
Margherita Pizza, This type of pizza was created in 1889 and named after
the queen of Italy. It always contains red tomatoes, white mozzarella and green basil, the colors of the Italian flag.
Sicilian Pizza, The crust resembles more of a focaccia bread
and is shaped like a rectangle or square. It is generously topped with tomato sauce, cheese and other ingredients.
Hawaiian Pizza, Love it or hate it, Hawaiian Pizza
is here to stay. Created by a Canadian chef,
this combination generally features pineapple and ham, though variations with bacon or pulled pork also exist.
California Pizza, This type of pizza gained traction in the 1980s.
The crust falls somewhere between NY style and
Neapolitan. They're traditionally meant
for one person and come with fancy toppings.
Greek Pizza, Originating with Greek immigrants in New England,
the texture of this pizza is similar to Sicilian pizza, but
it's made in a metal pan. It also contains lots of olive oil.
Greek Pizza, Originating with Greek immigrants in New England,
the texture of this pizza is similar to Sicilian pizza, but
it's made in a metal pan. It also contains lots of olive oil.
Detroit Style Pizza, Also originating with Sicilian immigrants, this rectangular pizza is layered with tons of cheese and toppings with
only a little sauce on top. The crust is chewy and crispy.
Detroit Style Pizza, Also originating with Sicilian immigrants, this rectangular pizza is layered with tons of cheese and toppings with
only a little sauce on top. The crust is chewy and crispy.
Tavern Style Pizza, Many Chicago locals prefer this style of pizza
over Deep Dish. This thin-crust pizza has typical
toppings and is cut into squares. Some say this is
so that a slice would fit on a bar napkin
Credit: Wibbitz Top Stories Duration: 01:31Published
The disappearance of Rupesh Chandra Chintakindi, a 25-year-old student from Telangana studying in Chicago, has alarmed the Indian community. Last seen on May 2nd, efforts to locate him have been fruitless. He vanished after allegedly traveling to Texas to meet an unidentified individual. His case highlights a troubling trend of Indian students facing danger abroad, prompting calls for increased safety measures.
#RupeshChintakindi #Telangana #IndianinUS #IndianStudents #Texas #Chicago #IndianCommunity #USnews #Indianews #Worldnews #Oneindia #Oneindianews
~PR.320~ED.103~GR.125~HT.96~
Indie rocker Steve Albini, who was best known for being the front man for the rock bands Big Black and Shellac, has died. His employees at his Chicago-based.. TMZ.com
These 5 US Cities Have the , Fastest-Rising Home Prices.
'Newsweek' reports that five cities in the
United States saw home prices increase by more
than 8% between January 2023 and January 2024.
The S&P CoreLogic Case-Shiller National Home Price
Index showed that all 20 cities analyzed had year-
over-year increases during the same period of time.
According to the report, , these are the five cities where , home prices grew the fastest:.
Chicago, IL, Home prices increased by 8%
year-over-year in the Windy City.
According to the latest Redfin data, the median sale price of a house in Chicago was $335,000 as of February 2024, a 6.3% increase compared to the same time last year.
Charlotte, NC, Charlotte saw home prices increase
by 8.1% year-over-year for 2024,
with the median home price at $399,995.
Detroit, MI, Motor City saw home prices jump 8.3%. The median sale price of a home was $83,000, a significant 15.3% increase compared to 2023.
'Newsweek' reports that while Detroit has some of the cheapest
home prices in the nation, its housing market is seeing a
resurgence due to a boom in electric vehicle production.
'Newsweek' reports that while Detroit has some of the cheapest
home prices in the nation, its housing market is seeing a
resurgence due to a boom in electric vehicle production.
Los Angeles, CA, The city's 8.6% hike ranked as the second-highest
price increase in the nation with the median home
price at $975,000, a 5.9% increase year-over-year.
San Diego, CA, San Diego registered a whopping 11.2%
price increase for 2023 with the median sale price
sitting at $940,000, a 10% year-over-year increase.
Credit: Wibbitz Top Stories Duration: 01:31Published
Bhavesh Bhinde, director of the company behind the Ghatkopar hoarding collapse, was arrested in Udaipur. Show-cause notice issued to IPS officer Quaiser Khalid... IndiaTimes
After a hoarding crash in Ghatkopar that claimed 14 lives, questions arise about the negligence of GRP, BMC, and government authorities. BMC served notice 2.. IndiaTimes
Happy Birthday,
Stevie Wonder!.
Stevland Hardaway Morris, also
known as Stevie Wonder, was born
on May 13, 1950, and turns 70.
He was born in Saginaw, Michigan.
Blind since birth, he later signed with
Motown’s Tamla label at 11 years old.
Wonder released his debut album, 'The Jazz Soul of Little Stevie,' in 1962 when he was 12 years old.
His discography includes his hit singles, "Signed, Sealed, Delivered I'm Yours," "Superstition" and more.
The Grammy-winning artist is one
the best-selling musicians.
Wonder also campaigned to make Martin Luther King Jr.’s birthday a U.S. holiday in 1980.
Wonder was named a United Nations Messenger of Peace in 2009.
and one of 'Billboard’s' Hot 100
All-Time Top Artists.
Happy Birthday,
Stevie Wonder!
Credit: Wibbitz Top Stories Duration: 01:01Published
This Day in History: , Prince Dies.
April 21, 2016.
The iconic musician, 57,
was found dead at his estate,
Paisley Park, in Minnesota.
Prince had overdosed on fentanyl.
His death was ruled accidental.
Over the span of four decades,
Prince transcended genre and created
more than 30 albums, his first in 1978 for Warner Bros.
Prince often played all of the
instruments on the album himself.
He was charismatic and electrifying on stage.
His 1984 album 'Purple Rain'
sold 13 million copies. It was number one
on the 'Billboard' 200 chart for 24 consecutive weeks.
He won seven Grammy awards.
His final album was released in 2015,
just months before his death.
Few artists have influenced the sound and trajectory of popular music more distinctly, or touched quite so many people with their talent, President Obama, via History.com
Credit: Wibbitz Top Stories Duration: 01:00Published
Happy Birthday,
Lil Nas X!.
Montero Lamar Hill
turns 25 years old today.
Here are five
fun facts about
the rapper.
1. He played
the trumpet
in school.
2. His hit single, “Old Town Road,”
originally went viral on TikTok.
3. “Old Town Road” became the longest-running
No. 1 song on the ‘Billboard’ Hot 100.
4. He collaborated with clothing company
Wrangler for a denim collection.
5. The “Panini” rapper once made a panini
with Chef Gordon Ramsay.
Happy Birthday,
Lil Nas X!
Credit: Wibbitz Top Stories Duration: 00:48Published
Snacks Nutritionists
Eat Every Day.
'Eat This, Not That!' asked 15 dietitian-nutritionists what they snack on every day. Here are some of their choices.
Granny Smith Apple.
Granny Smith Apples, specifically cut into thin slices, makes it more satisfying to snack on. They're sweet yet tart and crisp making them the perfect snack!, Julie Lichtman, RDN, LD, a Philadelphia-based registered dietitian.
Lime Chips and Fresh Guacamole.
The combination of flavors is so satisfying and with the healthy fat and whole-grain carbohydrate, it makes for a satisfying snack that holds me over to the next meal!, Christa Brown, MS, RDN, registered dietitian and owner
of Christa Brown Dietitian LLC.
Eggs.
Hard-boiled with a little everything bagel seasoning or mashed with a little avocado, eggs are a daily part of my snacking life because they are so nutrient-dense!, Liz Shaw, MS, RD, LD, registered dietitian and author of
'Air Fryer For Dummies'.
Hummus and Vegetables.
Raw vegetables offer a satisfying crunch, and the protein in the hummus helps keep me full between meals, Brianna Baker, MS, RDN, LD, a Houston-based registered dietitian.
Kiwis.
... data suggests that eating two of these fruits before bed results in falling asleep 42% more quickly when compared with people who don't enjoy these tasty
treats at nighttime, Brittany Scanniello, RD, LD, a Colorado-based registered dietitian
Credit: Wibbitz Top Stories Duration: 01:30Published
Paul Rudd made a cameo in a fan's music video after meeting at Taylor Swift's Eras tour. Claud, a 24-year-old indie musician from Chicago, saw Rudd in the VIP tent at the concert and approached him to..
Credit: The Hollywood Reporter Duration: 01:32Published
Ticket sales for Swift's concerts have been so explosive, one Federal Reserve office said, the pop superstar is helping fuel the national tourism industry. Please watch the video to know more..
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