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Wall Street Set To Bounce Back To Positive Open
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Atlanta Fed President defends policy, says inflation is a sign of healthy economy
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By Reuters Staff
1 Min Read
WASHINGTON, May 12 (Reuters) - The U.S. economy is in a “transitional period” as it reopens from the pandemic, with inflation likely to be volatile and workers closely considering their options, Atlanta Federal Reserve Bank President Raphael Bostic said.
Both the demand for and the supply of workers, goods and services is unsettled now, Bostic said, and “we are going to see a lot of volatility in prices and pricing . Workers are trying to figure out what their place should be post pandemic.”
The Fed has been surprised over the last week by a 4.2% annual inflation rate reported on Wednesday, and a weak April jobs report last week.
Both Sides Spinning Jobs Report
May 11, 2021
The recently released jobs report from the Bureau of Labor Statistics provided an opportunity for Democrats and Republicans alike to spin the facts in their favor.
In an economic speech, President Joe Biden repeated a talking point: that his administration has outperformed all others in total jobs gained during the first 100 days in office. But, on a percentage basis, job growth was higher under former President Jimmy Carter in 1977.
The Republican National Committee cited the report as evidence Biden is “squandering the recovery he inherited.” But the number of jobs added in the first three months since Biden took office is far higher than the number added in the three previous months.
David McMillon was a middle schooler in Saginaw when he dreamed of space travel and outer space. Anthony Della Pella was working in his high school library when he found a book on theoretical math and his direction in his educational life.
But the route to a doctorate degree in the fields of science, technology, engineering and mathematics for students like McMillon, who is Black, and Della Pella, a first-generation college graduate from River Rouge, isn’t always clear cut.
Trachette Jackson, a University of Michigan math professor, says that many students face biases, inequalities and barriers that impact their ability and desire to pursue academic careers in STEM. Image credit: Eric Bronson, Michigan Photography
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