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The word from the Wyoming Mountains on interest rates. I'm David Brancaccio in Los Angeles.

It is like a summertime Super Bowl for people focused on the economy.

The big meeting of central bankers kicks off today in Jackson Hole, Wyoming.

Federal Reserve Chair Jerome Powell is set to speak tomorrow,

and we'll be watching for hints about borrowing jobs and inflation.

Marketplaces Mitchell Hartman has this look at one tricky part of that equation.

The cost of rent?

When prices started shooting up in the pandemic, rents followed suit, peaking at nearly 9% inflation year over year.

Rent increases have moderated since then, but less than prices overall.

Higher interest rates should have suppressed demand for goods and services,

keeping a lid on rent increases. Columbia Business School finance professor Boaz Abramson

went looking for a reason rent inflation was so stubbornly high, and here's what he found.

...