Christopher Lewis, Author at Pay Per Touch

January 14, 2023

13 Stories You Need to See

A roundup of the week’s most newsworthy financial industry press releases from PR Newswire, including rising car insurance costs, inflation’s impact on retirement, and more.

NEW YORK, Jan. 13, 2023 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week’s most newsworthy and popular releases, here’s a roundup of stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

PR Newswire Weekly Finance Press Release Roundup, Jan. 9-13, 2023. Photo provided by CDN Publishing. https://prn.to/3ZyZVqb

1. Burnout Hitting Consumer Confidence, Finds KeyBank Survey
The survey polled more than 1,000 Americans on their financial, life and work-related priorities after a year of market volatility and uncertainty, revealing the steps they have taken to become more financially mobile.

2. 45 States Will See Car Insurance Costs Increase in 2023
The days of pandemic premium decreases and reimbursements are long gone as drivers have returned to the roads. Divya Sangameshwar, insurance expert at ValuePenguin.com, says, “After two years of keeping rates low for drivers, car insurance companies are raising rates in 2023 due to an increase in car repair costs and claims.”

3. Deloitte Study: While Most Business Leaders Believe the Right Workplace Model is Key to Success, only 24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} are Very Ready to Make Needed Changes
Over 10,000 survey respondents in 105 countries rank leadership among the top barriers in the majority of reported trends.

4. Columbia Banking System and Umpqua Holdings Corporation Announce FDIC Approval and Expected Closing Timeline for Combination
Upon closing, the combined company will become one of the largest banks headquartered in the West, with over $50 billion in assets and offices in eight western states that serve customers in all 50 states.

5. Nearly two-thirds of women are delaying their retirement due to inflation The Nationwide study found that 62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of women are either expecting to retire later than originally planned or don’t believe they will ever be able to retire because of inflation, compared to 47{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men.

6. PNC Expands its Environmental Finance Pledge to $30 Billion
Focused on green buildings, renewable energy, and clean transportation, the commitment deepens the bank’s support of clients transitioning to a low-carbon economy.

7. HTeaO Announces Growth Investment from Crux Capital and Trive Capital With this investment, HTeaO is well positioned to accelerate geographic expansion, continue attracting key talent, and employ innovative technology to improve quality of service while enhancing the customer experience.

8. These Are the World’s Most (and Least) Powerful Passports in 2023 “Our latest research into how much global economic access each passport provides is a useful tool for investors and gives new insight into the ever-widening inequality and wealth disparity that defines our world,” says Chairman of Henley & Partners, Dr. Christian H. Kaelin.

9. Las Vegas Sands to Pursue Multi-Billion-Dollar Downstate New York License at Nassau Veterans Memorial Coliseum Site on Long Island
The integrated resort components of a Long Island development would include outdoor community spaces, four and five-star hotel rooms and a world-class live performance venue honoring the long legacy of live music at the Nassau Coliseum. The resort property would also feature celebrity chef restaurants, experiential events and venues and flexible meeting and convention space, including ballrooms.

10. U.S. Rare Coin Market Continued to Soar in 2022
“Using data available to us, more than $560 million worth of U.S. rare coins were sold via public auction, marking the third consecutive year this aggregate total has increased. For the first time, 16 individual U.S. coins sold for greater than $1 million,” said Patrick Ian Perez, CDN Vice President.

11. 40Seas, a New Fintech Platform Designed to Modernize Cross-Border Trade Financing, Secures Funding of $111 Million from ZIM and Team8
By leveraging AI and data-driven technology, 40Seas is able to offer flexible payment options that are primed to disrupt legacy trade-financing solutions, and extend the accessibility of working capital for SME importers, exporters, freight forwarders and sourcing agencies.

12. Easing Mortgage Rates and Home Prices Provide Slight Boost to Homebuyer Sentiment
“As we enter 2023, we expect affordability to remain the top challenge for potential homebuyers, as even small declines in rates and home prices – from the perspective of the buyer – may not produce sufficient purchasing power,” says Doug Duncan, Fannie Mae Senior Vice President and Chief Economist.

13. Annual Survey Points Out How Much Americans Lose Due to Financial Illiteracy
Results indicated that over 38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of survey respondents said financial illiteracy cost them more than $500 last year, while 23.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} reported losing over $2,500.

Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.

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January 14, 2023

USDA forecasts higher US sugar production

WASHINGTON — The US Office of Agriculture in its Jan. 12 Planet Agricultural Source and Need Estimates (WASDE) report raised from December its forecast of 2022-23 US beet and cane sugar generation, slightly decreased imports and left deliveries unchanged, resulting in a soar in the shares-to-use ratio.

The most major change in the WASDE report was the US sugar production forecast at 9,248,000 limited tons, uncooked benefit, up 209,000 tons, or 2.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from the December forecast and up 92,000 tons, or 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from 2021-22, which was approximated at 9,156,000 tons, up 19,259 tons from the prior month thanks to a like boost in cane sugar output in Louisiana. Beet sugar output in 2022-23 was forecast at 5,048,318 tons, up 120,819 tons, or 2.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from December, and cane sugar was forecast at 4,199,000 tons, up 88,216 tons, or 2.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

If recognized, 2022-23 cane sugar creation would be the optimum on file, and total sugar production would be the 2nd optimum on record after 9,293,000 tons in 2017-18.

“Because September creation in Louisiana is a product of the 2022-23 sugar cane harvest, Louisiana creation in 2022-23 is modified downward by the September 2022 volume but partially offset by an boost in projected output in September 2023,” the USDA explained. “More substantially, Louisiana creation is amplified thanks to the January NASS (the USDA’s Countrywide Agricultural Data Provider) forecast of sugar cane for sugar production growing by 5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} over last month to 15,818,000 tons. Sucrose recovery is unchanged at 13.48{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. Output (Louisiana) for the fiscal 2022-23 calendar year is now 2,112,885 tons, up 88,216 tons above final thirty day period. Fears about problems to the 20{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} or so of Louisiana’s sugar cane crop still in the industry when freezing temperatures protected most of the condition in late December did not appear to be borne out.

“NASS tasks 2022-23 sugar beet production at 32,574,000 tons, a 2.65{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} reduction, centered on reduce area harvested and generate. Decrease sugar beet manufacturing is extra than offset by an enhance in sucrose recovery. Based mostly on sugar manufacturing information for August by means of November in the (USDA’s) Sweetener Sector Details, USDA initiatives sucrose recovery at 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. This is up from final month’s 14.626{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} that was dependent on historical trend.”

Sugar imports in 2022-23 have been forecast at 3,458,000 tons, down 35,480 tons from December. Tariff-amount quota imports were being forecast at 1,606,000 tons, down 85,943 tons, other system imports at 250,000 tons, unchanged, and imports from Mexico at 1,477,000 tons, unchanged.

“Sugar below the 2021-22 TRQ permitted to enter by the extension of the quota 12 months to close of December was 164,225 tons and below that approximated final month by 85,943,” the USDA reported.

Superior-tier imports in 2022-23 ended up forecast at 125,000 tons, up 50,000 tons from December. The improve in 2022-23 significant-tier imports reflected “the tempo of superior-tier tariff refined sugar imports for the relaxation of the 12 months and an boost in raw sugar large-tier imports recorded by Customs in December,” the USDA explained.

Whole 2022-23 sugar provide was forecast at 14,525,000 tons, up 178,027 tons, or 1.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from December and up 19,000 tons, or .1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from 14,506,000 tons in 2021-22.

Forecast deliveries in 2022-23 have been unchanged from November, including deliveries for foods at 12,500,000 tons. Exports ended up forecast at 35,000 tons and “other” at 105,000 tons, both equally unchanged.

Ending stocks in 2022-23 had been forecast at 1,885,000 tons, up 178,000 tons, or 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from December and up 66,000 tons, or 3.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, from 2021-22. The recent-yr ending shares-to-use ratio was forecast at 14.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, up from 13.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in December and up from 14.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in 2021-22.

There have been no improvements to import or shipping estimates for 2021-22. Miscellaneous changes have been estimated at 81,000 tons, up 15,000 tons, partially offsetting better cane sugar output, ensuing in ending shares at 1,819,000 tons, up 4,472 tons from December.

Variations from December to Mexico’s provide-and-demand forecasts for 2022-23 ended up minimal, with domestic use reduced 759 tonnes, actual excess weight, exports lifted 759 tonnes and ending stocks unchanged at 971,000 tonnes. There were no adjustments to 2021-22 estimates for Mexico.

“USDA estimates that the sugar creation campaign as a result of the finish of December is at minimum 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at the rear of the speed founded more than the previous nine years,” the USDA said in WASDE remarks relating to forecasts for Mexico. “Although there is some self confidence that the pace will be accelerated, the evidence to date is lacking. The speed of the marketing campaign will continue to be carefully monitored.”

January 14, 2023

Delaware Supreme Court upholds ruling in favor of D&O insurers

The Delaware Supreme Court docket on Thursday affirmed a lower courtroom ruling in favor of American Global Team Inc., Chubb Ltd. and QBE Insurance plan Group Ltd. in administrators and officers litigation filed by a mining organization.

Littleton, Colorado-dependent Stillwater Mining Co., whose principal spot of business is Stillwater County, Montana, unsuccessfully argued, adhering to an previously Delaware ruling in one more circumstance, that Montana legislation relatively than Delaware legislation must apply on the concern of whether it could get better charges it incurred in defending a Delaware stockholder appraisal action, in accordance to the unanimous ruling by the Delaware Supreme Courtroom in Stillwater Mining Co. v. Nationwide Union Hearth Insurance plan Co. of Pittsburgh, PA, Ace American Insurance policies Co. and QBE Insurance policies Corp.

Stillwater was publicly traded right until 2017, when Sibanye Gold Ltd., a South African mining business, obtained it and took it non-public, according to the ruling. After the merger, some Stillwater stockholders filed an appraisal motion in Delaware’s Courtroom of Chancery seeking the stock’s reasonable benefit.

Just after its D&O insurers did not shell out its defense expenses in the situation, Stillwater sued them in Delaware state court docket. The court granted the insurers’ motion to dismiss the scenario dependent on the Delaware Supreme Court’s October 2020 ruling in In re: Solera Insurance plan Coverage Appeals, in which it held that charges associated with a stock appraisal sought by shareholders in link with a merger are not insurable below D&O protection.

Stillwater had originally argued that Delaware regulation used to the D&O policies’ interpretation but, in an amended complaint after the Solera determination, reversed situation and mentioned Montana legislation used.

“The major concern on charm is no matter whether Delaware or Montana law applies to the promises in Stillwater’s amended grievance,” the Supreme Court ruling reported.

Stillwater argued in its amended grievance that the lower court docket really should have used Montana legislation, because it has the most important partnership to the dispute and the events, and, if that is the situation, it can recover its protection fees under that state’s regulation.

The state’s large courtroom disagreed. “In our watch, Stillwater’s amended statements raise the exact same Delaware pursuits that Stillwater recognized in its authentic grievance,” it stated, in affirming the reduced courtroom.

Attorneys in the case experienced no remark or did not answer to a ask for for comment.

January 14, 2023

7 top personal finance trends to watch out for in 2023

With the Indian overall economy rising at an exponential amount, it is no surprise that the particular finance sector is booming. From the introduction of UPI to the emergence of progressive new solutions, the Indian particular finance house is evolving at a quick pace. There are some exciting private finance traits to look out for in India in 2023

1) Purchase Now Shell out Later on (BNPL)

Invest in Now Pay out Afterwards (BNPL) is a new and rising craze in the official Indian economic system. “This is an progressively well known payment selection that lets consumers to buy merchandise and services nowadays and spend for them afterwards, creating it a good way for persons to deal with their finances in the quick phrase,” explained Amit Gupta, MD, SAG Infotech.

According to best Ashish Aggarwal, Director, Spacemantra, BNPL use is expected to rise in the around/medium expression. Credit rating losses, on the other hand, are predicted to climb drastically, and the sector is possible to start getting rid of its uncontrolled social standing in numerous market place segments. As a result, rapid development is seen as a limited-expression notion alternatively than a lengthy-term match changer.

2) Exchange Traded Funds (ETFs)

Amit Gupta mentioned ETFs are reduced-cost, diversified investments that supply investors with the means to commit in a wide variety of assets without the need of acquiring to pick particular person shares.

3) Real estate financial commitment

The enchantment of proudly owning a house as a long-phrase investment decision is more robust than ever. Suren Goyal, Spouse, RPS Team stated as men and women started to realise the value of real estate financial investment, secondary home buys improved in 2022. It was also a time period of industry vulnerability, and when all other belongings struggled, true estate remained solid. This has offered it the physical appearance of a risk-free and safe expenditure.

Its small volatility and larger envisioned returns are also desirable to investors. Serious estate as an financial investment possibility is anticipated to mature in 2023, he added.

4) Neobanks

Neobanks are digital-only banking institutions that are built completely on electronic platforms. These banking platforms offer prospects with an array of solutions this sort of as on the web payments, deposits, remittances, and credit cards.

5) Cryptocurrency

A cryptocurrency is a electronic variety of dollars that is secured using cryptography and can be utilized to make payments or retail outlet value.

6) P2P lending

P2P lending is a decentralized credit system that will allow borrowers and loan companies to transact with each other instantly, stated Amit Gupta.

7) Inventory marketplaces

Hoping to time the market in serious lifetime is an straightforward way to metaphorically set your revenue on fire. Don’t forget that “time in the market place is more essential than time out of the market.”

Investing in fantastic organizations by means of ups and downs benefits your portfolio, reported Amber Pabreja, Founder and CEO of Trendlyne.

“Don’t acquire all at after, and really don’t be all in on one particular stock/sector, Very good investing guidance is a little bit like fantastic diet tips: anything in moderation (and stay clear of the awful things),” Amber explained.

If you are investing in a inventory, buy it in periodic chunks, and maintain your portfolio diversified. This will enable manage your challenges in the scenario of an surprising downturn in 1 stock or sector, he added.

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January 14, 2023

Big U.S. banks continue to add jobs as Goldman Sachs cuts staff

NEW YORK, Jan 13 (Reuters) – JPMorgan Chase & Co (JPM.N) and Lender of America Corp (BAC.N) continued to include staff members as the economic climate softens, even right after the ranks of the five most significant U.S. lenders swelled by 100,000 because the get started of 2020.

The main money officers of the two most important U.S. financial institutions stated they would retain the services of selectively in spite of waning economic development.

JPMorgan’s (JPM.N) Main Economic Officer Jeremy Barnum stated the lender is continue to selecting and “in development method” in a simply call with journalists to talk about the bank’s fourth-quarter earnings.

The bank’s headcount will most likely increase modestly, though “there will be distinct adjustments at various moments, and we are viewing that all throughout the company,” Barnum said.

Lender of America (BAC.N) also carries on to seek the services of, significantly in wealth administration, even though also remaining disciplined on its charges, Chief Economic Officer Alastair Borthwick instructed reporters on Friday. Its workforce swelled to 216,823 at the finish of 2022 as opposed with 208,248 a yr earlier.

“We never have any options for mass layoffs,” he reported.

Citigroup Inc’s (C.N)
Chief Fiscal Officer Mark Mason advised an earnings briefing “we’re actively hiring to execute against our system. But we are also repacing wherever that can make sense in gentle of the environment that we are in.”

The banking giants stood by their employing options even as other loan providers slice staffing in expense banking and home loans.

The projections came right after Goldman Sachs Inc (GS.N) became the initial main lender to start substantial layoffs this calendar year, allowing go of extra than 3,000 workforce in its most important round of occupation cuts given that the 2008 economic disaster.

BNY Mellon (BK.N) designs to slice around 3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of its workforce this yr, a source acquainted with the make any difference told Reuters on Friday. examine more

Among the five of the top 6 banking institutions, JPMorgan, Lender of The usa, Citigroup Inc (C.N), Goldman Sachs and Morgan Stanley (MS.N) included in excess of 100,000 work from the to start with quarter of 2020, based mostly on their fourth and 3rd quarter figures.

Wells Fargo bucked the development, reducing its headcount by approximately 21,000 in the exact same time period.

Reuters Graphics

Goldman experienced hired 10,600 persons because the commence of the pandemic, including workers for Marcus, its consumer banking device that was scaled back in Oct immediately after getting rid of income.

“It is a secure bet to say a lot more banking institutions might abide by as banking companies wrestle to make the math work from a bonus perspective and alter to lessen offer volumes,” Natalie Machicao, vice president at govt research company Sheffield Haworth in New York.

“Other banks are generating cuts, with equity cash marketplaces and leveraged finance a lot more deeply afflicted than coverage or M&A,” she explained, noting that the trims have been happening on an person basis or lesser scale relatively than a substantial reduction in drive.

Goldman’s price cuts replicate its reliance on investment decision banking and trading, which accounted for about 65{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of its income in the third quarter of 2022, as the dealmaking drought eroded revenue. That compares with Morgan Stanley, where by the equivalent enterprises produced up 45{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of its income in the same interval.

Dante DeAntonio, a director of economic investigate at Moody’s, reported employment in finance and insurance coverage plateaued in the fourth quarter and commenced to decrease in December.

That masked a weaker pattern in the credit history intermediation or banking, which has declined modestly more than the very last 6 months immediately after keeping flat for most of 2021 and early 2022, he reported.

“We count on payrolls to continue being flat to a bit down in the course of this year with the most threat coming from the residential and industrial lending divisions inside of these establishments,” DeAntonio reported. “In some perception, the tide has by now turned.”

Reporting by Saeed Azhar, Lananh Nguyen, Niket Nishant and Carolina Mandl Modifying by Lananh Nguyen, Nick Zieminski and Aurora Ellis

Our Standards: The Thomson Reuters Trust Rules.

January 13, 2023

Inflation slowed to 6.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in December, Fed interest rate hikes to continue

Cost expansion in the United States cooled in December as the economy continued to exhibit symptoms of weakening. Inflation landed at 6.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in comparison to the 12 months prior.

That determine was in line with analysts’ expectations, and a lower from the 7.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} noticed in November. On a thirty day period-to-thirty day period foundation, inflation fell by .1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in December, in line with anticipations.

The slowing level of inflation is possible to signal to the Federal Reserve that its desire-amount hikes are working but, so much, Chair Jerome Powell has not indicated any in close proximity to-expression prepare to drastically pull back again from people raises till inflation will get nearer to 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

The economic climate continues to be buoyed by a strong labor market place. Very last week, the Bureau of Labor Data documented the unemployment amount experienced hit a 53-year very low, slipping to 3.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, but the issues that corporations are encountering when it arrives to getting staff can even now be found in the 10.5 million job openings it reported.

Though that amount has fallen from its write-up-pandemic highs, it truly is resulting in many companies to maximize wages. That is great news for workers, but some Federal Reserve officers say they believe people shell out increases are most most likely translating into higher rates for customers.

“To be apparent, potent wage growth is a excellent factor,” Powell stated at a meeting in November. “But for wage progress to be sustainable, it needs to be consistent with 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} inflation,” he included.

A shopper holds groceries while waiting to checkout inside a grocery store in San Francisco, California, U.S., on Monday, May 2, 2022. U.S. inflation-adjusted consumer spending rose in March despite intense price pressures, indicating households still have solid appetites and wherewithal for shopping. — A shopper waits to test out in a grocery retailer in San Francisco last May well.David Paul Morris / Bloomberg by way of Getty Visuals file

Where in the U.S. financial state have charges fallen?

In December, the price of gasoline fell to ranges past noticed right before the war in Ukraine started, to around $3.10 for each gallon.

BLS data Thursday showed a 9.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} every month drop for gasoline charges in December.

An index that tracks prices among the compact businesses has also stopped its breakneck pace of development, however it stays properly over pre-pandemic stages.

Price ranges for items and expert services purchased on the web in December had been 1.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} decrease than they ended up a yr earlier — the fourth-consecutive month of yearly price tag declines, in accordance to data from Adobe Analytics. It said holiday getaway special discounts drove down charges of appliances, electronics, toys, computers and sporting merchandise, although value raises cooled off in categories like personalized care.

The cost of food items has established to be far more stubborn, many thanks in aspect to serious climate situations, chook flu and labor shortages that have influenced the expense of expanding crops and offering groceries.

Thursday’s BLS data showed foodstuff costs state-of-the-art .3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} on a month to month basis in December.

But Wednesday, the food large Conagra, which generates the Healthier Decision, Birds Eye and Chef Boyardee brand names, explained to Reuters it programs to pause value hikes on treats and frozen meals soon after the recent quarter.

Economists at Financial institution of The united states say Thursday’s inflation report is not likely to lead to Fed officials to abandon their strategy to aggressively sluggish the economic climate through desire fee hikes.

“Though there are growing signals that inflation has peaked, the Fed is apprehensive about the overheating labor sector,” they reported in a report this week. “Our outlook for the December [inflation] report is unlikely to quell people concerns.”