The Complexities of Inflation

MESSAGE FROM THE PRESIDENT

October 21, 2024

Inflation is a funny thing. To listen to economists, the news, and even witness our own experiences, the results are uneven at best. In a CNBC story from the weekend, they noted that “the high price of goods and services across the U.S. economy continues to pose a burden for individuals, businesses, and policymakers. Since prices started spiking in early 2021, food inflation has surged 22%. Eggs are up 87%, auto insurance has soared nearly 47%, and gasoline, though on a downward trajectory recently, is still up 16%.”

As the globalized economy as we have known it since the end of World War II unwinds, other issues from around the world will create inflationary prices. Raw materials, food, and finished goods from far away places may be at risk, and disruptive events will surely cause shortages and higher prices. The article continues, “Amid the swirling currents of the good news/bad news inflation picture, the Fed has an important interest rate decision to make at its November 6-7 policy meeting.” I’m sure they will also take into account that the “current debt delinquency rate is 2.74%, the highest in 12 years.”

News You Can Use

We start the week with the release of U.S. leading economic indicators for September and remarks from the Dallas, Kansas City, and San Francisco Fed Presidents. On Tuesday, Philadelphia Fed President Patrick Harker speaks, while on Wednesday we’ll get existing home sales data for September. Thursday brings us September new home sales figures. We wrap up on Friday with September durable goods orders and an early look at consumer sentiment for October.

Sandy Spring Banc, Cathay Bancorp, HealthStream, Nucor, and Zions Bancorp are among the companies with earnings calls today. GE Aerospace, Verizon Communications, 3M, Atlantic Union Bankshares, Comcast, Denny’s, Fiserv, Freeport-McMoRan, General Motors, PulteGroup, and Sherwin-Williams are among the many calls on Tuesday. AT&T, Tesla, Boeing, Churchill Downs, Coca-Cola, Hilton, KBR, Old Dominion, TransUnion, and Winnebago are scheduled for calls on Wednesday. ADT, American Airlines, Dow, Honeywell, Lear, Tractor Supply, Capital One, Mohawk Industries, Principal Financial Group, Centene, and Piper Sandler are among the many calls on Thursday and Friday.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

Uniquely Delaware

Seeking Nominations -

Josiah Marvel Cup

The State Chamber is seeking nominations for Delaware’s highest business honor—the Josiah Marvel Cup. The recipient’s identity is held in confidence until the 188th Annual Dinner on Monday, January 13, 2025. The Marvel Cup honors a Delawarean who has made an outstanding contribution to the state, community, or society. Download the nomination form >

The New Castle County Vocational Technical School District delivers world-class career and technical programs combined with rigorous academci curricula to equip students with the 21st century skills that will best served the state of Delaware and global community.

Learn more