SF Fed: Shelter inflation negative in 2024?
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 8 August 2023
⏱️ 6 minutes
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Tuesday, August 8th, and I'm your host, Julie Morgan. |
| 0:12.0 | The Federal Reserve Bank of San Francisco says |
| 0:14.8 | shelter inflation is set to cool in 2024. DISH Network and Echo Star are close to a |
| 0:20.5 | deal and Tilray is expanding its portfolio. |
| 0:25.0 | Here's what's making headlines today. |
| 0:27.3 | According to the Federal Reserve Bank of San Francisco, |
| 0:30.2 | U.S. headline shelter inflation |
| 0:32.2 | is said to cool marketly and could even turn negative next year. |
| 0:36.5 | This info was released in a research note published on Monday. |
| 0:40.3 | San Francisco Fed economists said that their baseline forecasts suggest year over year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-24. |
| 0:53.7 | The economist built a model using the Case Schiller Home Price Index, |
| 0:58.2 | Core Logic, Zillow, and Apartment List |
| 1:01.0 | to determine the path for the shelter component. |
| 1:04.0 | Results from the model show the feds rate hikes that have persisted almost every month since |
| 1:09.4 | March of 2022 have had a significant effect on slowing housing markets, and they say that this slowdown |
| 1:16.1 | is likely to continue going forward. |
| 1:18.9 | Of course, we know this week we're expecting CPI from July to be released on Thursday. |
| 1:24.5 | DISH Network and Echo Star are close to a deal. |
| 1:28.7 | An announcement on a deal may come as soon as today, |
| 1:31.7 | according to a Wall Street Journal report late Monday. |
| 1:34.8 | The exact terms of the transaction could not be learned, though the price for Echo Star |
... |
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