What will the next interest rate increase be?; Airlines are looking for revenue streams; Is the labor market getting softer? Top sectors for creators
Ryan Patel
Global Business Executive | Board Director | CNN Contributor | Keynote Speaker | Webby Award Nominee | Host of "The Moment with Ryan Patel" Filmed at The HP Garage | Making Complex Topics Simple | LinkedIn Top Voice |
Welcome to?"Ryan is Curious" Headlines,?your biweekly roundup of conversations that piqued my interest across all topics and industries.?Don't forget to?subscribe?and?click the bell icon on my profile?to ensure you don't miss anything! Let's jump right into it:
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What will the next interest rate increase be?
Do you believe the Federal Reserve will raise interest rates by one percentage point soon?
It appears to be a possibility, and the Fed has not ruled it out. We'll find out at the next Fed meeting, which takes place on July 26-27.
I was live on?CNN?Newsroom breaking down that, the CPI Index, food prices/shortages, global inflation, and more...
Why is one percentage point being brought up now? Because the most recent consumer price index was released, here are a few highlights:
Annual consumer prices increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981
The energy index rose 41.6 percent over the last year, the largest 12-month increase since the period ending April 1980
The core CPI (all items less food and energy) index rose 5.9 percent over the last 12 months, compared with the 5.7 percent estimate
-The food index increased 10.4 percent for the 12 months ending June, the largest 12-month increase since the period ending February 1981.
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Airlines are looking for new revenue streams
I've been on a plane every other week since March (a little too frequently, to be honest), but it's not always easy to sort through all the prices. Between the routes, schedule/timing changes (including the prices), flight ticket rules, and then rereading what the "premium" seat actually provides (vs the basic ticket) as it varies from airline to airline...a lot to make sense of what is best for you...especially with budget per flight and the duration too!
The Wall Street Journal?published an article stating that airlines "don’t divulge their seat-fee revenue, and the U.S. Transportation Department doesn’t require disclosure as it does with baggage or?ticket-change fees." But in the piece, it did break down a hint:
"Southwest Airlines, which doesn’t assign seats but offers two paid options to board early and get a better pick of seats, collected $711 million from such fees and incidental in-flight purchases in 2019, according to securities filings. The figure dipped to $359 million when?travel cratered in 2020, but jumped up to $553 million last year."
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Is the labor market getting softer?
I appeared on?CNN?Newsroom on July 9th to discuss some of the mixed signals and the outlook for the US and global economies. So, what sparked the discussion?
The?Bureau of Labor Statistics?reported that nonfarm payrolls increased 372,000 in the month, exceeding the 250,000 Dow Jones estimate...so far, the year has seen strong job growth.
US GDP fell 1.6 percent in the first quarter and is expected to fall 1.9 percent in the second quarter (some use this as the common definition of recession)
The Fed did vow to be aggressive from their last meeting.
Saw a quote from Fed Governor Christopher Waller, "Do the big rate hikes when the economy is strong and the labor market can take it.”
?Bank of America?card data showed:
"Continued growth in consumer spending, but inflation is challenging households’ purchasing power,” said David Tinsley, senior economist for the Bank of America Institute. "Overall, we still remain cautiously optimistic for the U.S. consumer."
However, here are the most recent Labor Department figures released yesterday on jobless claims:
"Initial jobless claims, a proxy for layoffs,?rose to a seasonally adjusted 251,000?in the week ended July 16 from 244,000 the week before, the Labor Department said Thursday. Last week’s claims were above the 2019 pre-pandemic weekly average of 218,000, when the labor market was also strong, and at their highest since last November." (WSJ)
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Top ten industries looking for creators
Linkedin recently released its latest Workforce Insights Report, and I thought the results were very interesting...the industries listed below are looking for creators:
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"Practice makes perfect."
How do you hone your skills? Is there anything you've been doing to improve your work?
????Please feel free to share them in the comments below.
领英推荐
???I was reminded of this yesterday while attending the?Major League Baseball?Home Run Derby yesterday held at?Los Angeles Dodgers?Stadium and where baseballs ? were flying out from the field with distance, consistency and you could tell the pros were determined to win...They were unfazed by the heat, the crowd, or any other distractions...but they were locked in.
?? And yes, I got lucky and I was able to catch a hit ball from two-time Home Run Derby winner Pete Alonso of the?New York Mets?in his second-round match...I felt like I had front-row seats to the show...quite literary I did.
Thank you,?Mastercard?for having me at the game and putting me in the right place for this?#priceless?moment...let's just say my kids were happy with the end result!???
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What is your zoom attire?
Oh, you better believe I asked?Eric S. Yuan (he / him / his), founder and CEO of?Zoom, what his go-to zoom attire is, and he said, "A very nice T-shirt and with the zoom blue pajama pants"...and yes, he said he would send me a pair! So count me in????
The second episode of "The Moment with Ryan Patel," presented by?HP, and I'm excited to share it with you all! (Here is the first episode in case you missed it!)
As you can see in the video, Eric and I had a fun conversation about basketball analogies, shoes (and socks…you have to see the behind-the-scenes photos), to him watching The Last Dance twice... But we also talked about his dream of coming to Silicon Valley and how he was denied a visa eight times...then had the courage to leave his job to start Zoom...then went public on the?Nasdaq?with his father passing the year before... This is a discussion you do not want to miss!
Thank you Eric for joining the series and I can’t wait in catching up with you soon again! Especially at your favorite restaurant, you mentioned the next time I am up there ??
A couple of quotes that stood out:
“You have to have your own moment of self-reflection every day”
“I didn’t understand the purpose of life (when I was younger)…it is really about pursuing happiness.”?
“To make others happy, you’ll be happier…that kind of happiness is sustainable”?
“Hard work, stay humble”
“It felt more like the coach told us Ryan, Eric, you two go to play in an NBA game next Monday.”
What did you take away from this episode?
???? Please leave your comments in the section below!
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Linkedin Community Shoutouts!
In each newsletter,?I will highlight one (or some) of the?comments made by?Linkedin community members?on my posts. So many great (and fun) comments, so hard to narrow down!
Shoutout to?Abdul, Lesli, Jeffrey, Roxanne, Rolfe, Wayne, Megan, Bob, Ken, Thivanka, Christopher, John-Paul, Jim, Benita, Elizabeth, Jeff, Paul, Shannon, Alex, Aniza and Mike!
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What's your take on these headlines or others we should be discussing?
Join in by sharing your own thoughts on these topics in the comments below.
Thanks for reading!?????
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Ryan Patel?is a global business executive, board member, TV contributor, and host of "The Moment"
Check out his?Linkedin Learning Course:?"Cultivate a Global Entrepreneurial Mindset in a Remote Working World"
Subscribe to his biweekly newsletter?-?"Ryan is Curious" Headline
Global family enterprise leadership | Family Business Audiocast | RAS Capital Partners | AVESTIX | Columbia Business School | LinkedIn 1% | SFOs MFOs | Salomon Brothers | 10x BOD | led $1B directs | Author | Consigliere
2 年Good articles Ryan Patel … one would bet that the fed will overshoot as they undershoot as reactions require prudence
EVP at Edelman | Experienced Leader in Executive Operations, Communications & Business Development
2 年Expecting you to catch a ball in the World Series too - Dodgers/Yankees!
Senior Vice President, Real Estate & Construction at Academy Sports & Outdoors, Inc.
2 年Thanks for the shout. Two comments. 1/2 percent increase predicted. And, I am on a SW flight right now. Forgot to purchase the early boarding. Will never forget again. :(
Chief Communications Officer, Intel
2 年Thanks, Ryan! I have to say, I'm still quite jealous of your Derby seats! ? ??
Retired Corporate Executive and Professor of Marketing, with expertise in marketing strategy, food marketing, and sales.
2 年Thanks for the callout Ryan. I stand behind the comment on the resiliency of the US economy. If not for the strain of oil prices, impacting manufacturing, transportation, agriculture (fertilizer) and packaging we would be booming. Maybe this will provide the nudge needed to becoming less dependent on fossil fuel. Keep up the great work. And thanks for sharing.