{"id":184359,"date":"2023-01-27T17:40:00","date_gmt":"2023-01-27T22:40:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/"},"modified":"2023-02-09T15:57:22","modified_gmt":"2023-02-09T20:57:22","slug":"strong-services-inflation-greets-the-fed-before-pivotal-meeting","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/","title":{"rendered":"Strong Services Inflation Greets the Fed Before Pivotal Meeting"},"content":{"rendered":"\n

During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally. This morning\u2019s Personal Income and Outlays report from the U.S. Bureau of Economic Analysis showed that even though prices rose modestly last month, consumption declined for the second straight month. Perhaps most worrisome, investors waiting anxiously for this coming Wednesday\u2019s pivotal Federal Reserve (the Fed) meeting are focusing on today\u2019s data and other gauges released earlier this month that show that inflation has accelerated in the services sector. In past presentations, Fed Chairman Jerome Powell has emphasized that the central bank\u2019s tightening policies have made progress in curtailing inflation in many areas, but the services sector has shown stubborn price increases that must be tamed before declaring a victory against inflation.<\/p>\n\n\n\n

Markets initially sold off following the report but relentless buying by the bulls has managed to reverse the decline as they handsomely piloted the aircraft in the opposite direction. The S&P 500 is up 0.4%, the tech-heavy Nasdaq is up 0.6% and the value tilted Dow is up 0.4%. Yields are continuing their increase after yesterday\u2019s firm GDP report<\/a>, led by the long-end as the 10-year is up 5 basis points to 3.54%. WTI crude oil is down 1% to $80 on recession fears while the dollar is roughly unchanged. <\/p>\n\n\n\n

The Fed\u2019s preferred inflation measure, the Core PCE Price Index, climbed 4.4% year-over-year (y\/y) and 0.3% month-over-month (m\/m) in December, in-line with market expectations and hotter than November\u2019s m\/m reading of 0.2%. The general PCE Price Index, which includes food and energy, increased 5% y\/y and 0.1% m\/m. Personal spending accelerated its decline from last month, down 0.2% from 0.1% in November. Incomes are doing just fine, but falling spending indicates that higher interest rates and inflation are taking a bite out of consumer spending. Personal savings have increased significantly from a low level, as a strong job market and contracting spending in tandem have boosted reserves in the short-term.<\/p>\n\n\n\n

\n

Based on the Fed\u2019s prior statements about services inflation, the central bank appears far from declaring the end of monetary policy tightening. Prices for goods decreased a considerable 0.7% but prices for services accelerated to 0.5% m\/m, the fastest pace since September.<\/strong><\/p>\n<\/blockquote>\n\n\n\n

Based on the Fed\u2019s prior statements about services inflation, the central bank appears far from declaring the end of monetary policy tightening. Prices for goods decreased a considerable 0.7% but prices for services accelerated to 0.5% m\/m, the fastest pace since September. Services price inflation continues to be driven largely by the sizzling hot labor market, characterized by worker shortages and rising wages. Energy prices declined 5.1% illustrating strong inflation in other components of the index with the PCE headline number staying flat at 0.1%. Food prices, for example, climbed 0.2%. Energy continues to be a strong driver of sentiment among investors and consumers while a strong influencer of overall price changes. The most recent Consumer Sentiment survey showed strengthening sentiment partially because of energy price declines, but gasoline prices this month have been climbing, rising approximately 40 cents per gallon. Pain at the pump could weaken consumer sentiment and spending thereby destroying demand but increasing input costs for businesses.<\/p>\n\n\n\n

\"Rising<\/figure>\n\n\n\n

Today\u2019s release depicts a dreadful combination of weakening spending and higher prices, or stagflation, at least in the short term. While yesterday\u2019s GDP release showed that the economy grew at an annualized rate of 2.8% in the fourth quarter of 2022, December\u2019s declining consumer spending is troublesome. Such spending represents approximately 70% of U.S. GDP. Recent data also shows continued contraction in goods spending and real estate construction, including homes. This broad spending weakness defies recent improvements in consumer sentiment<\/a> and was highlighted this morning when Intel disclosed its fourth quarter revenue declined a sobering 32% y\/y, which caused the stock to tank more than 10% in early trading. While Intel is losing market share, it\u2019s also been hit hard by declining demand for personal computers, which has caused retailers to decrease their computer purchases. With weakening consumer spending, GDP is likely to contract in first quarter 2023 while inflation remains persistent, creating challenging conditions for Wall Street and Main Street.<\/p>\n\n\n\n

Visit Traders\u2019 Academy<\/a> to Learn More about Personal Income and Outlays, Gross Domestic Product and Other Economic Indicators.<\/p>\n","protected":false},"excerpt":{"rendered":"

During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.<\/p>\n","protected":false},"author":903,"featured_media":182625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12711,18,6,8,9,26,3],"tags":[3221,77,12719,527,570,6014,12380],"contributors-categories":[13760],"class_list":{"0":"post-184359","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-economic-landscape","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-economic-data","15":"tag-fed","16":"tag-gasoline-prices","17":"tag-gdp","18":"tag-inflation","19":"tag-macroeconomics","20":"tag-us-economics","21":"contributors-categories-ibkr-macroeconomics"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nStrong Services Inflation Greets the Fed Before Pivotal Meeting<\/title>\n<meta name=\"description\" content=\"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/184359\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strong Services Inflation Greets the Fed Before Pivotal Meeting\" \/>\n<meta property=\"og:description\" content=\"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-27T22:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-09T20:57:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jose Torres\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Strong Services Inflation Greets the Fed Before Pivotal Meeting\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jose Torres\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"NewsArticle\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Jose Torres\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\"\n\t },\n\t \"headline\": \"Strong Services Inflation Greets the Fed Before Pivotal Meeting\",\n\t \"datePublished\": \"2023-01-27T22:40:00+00:00\",\n\t \"dateModified\": \"2023-02-09T20:57:22+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/\"\n\t },\n\t \"wordCount\": 721,\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/fed-reserve-building-featured-img.jpg\",\n\t \"keywords\": [\n\t \"economic data\",\n\t \"Fed\",\n\t \"gasoline prices\",\n\t \"gdp\",\n\t \"inflation\",\n\t \"macroeconomics\",\n\t \"US Economics\"\n\t ],\n\t \"articleSection\": [\n\t \"IBKR Economic Landscape\",\n\t \"Macro\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/\",\n\t \"name\": \"Strong Services Inflation Greets the Fed Before Pivotal Meeting\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/fed-reserve-building-featured-img.jpg\",\n\t \"datePublished\": \"2023-01-27T22:40:00+00:00\",\n\t \"dateModified\": \"2023-02-09T20:57:22+00:00\",\n\t \"description\": \"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.\",\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/fed-reserve-building-featured-img.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/fed-reserve-building-featured-img.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563,\n\t \"caption\": \"Fed Reminds Us That Peak Isn\u2019t Pivot\"\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus US\",\n\t \"description\": \"Financial Education from Interactive Brokers\",\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Organization\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t \"name\": \"Interactive Brokers\",\n\t \"alternateName\": \"IBKR\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"logo\": {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"width\": 669,\n\t \"height\": 669,\n\t \"caption\": \"Interactive Brokers\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t },\n\t \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\",\n\t \"name\": \"Jose Torres\",\n\t \"description\": \"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/jose-torres\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Strong Services Inflation Greets the Fed Before Pivotal Meeting","description":"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/184359\/","og_locale":"en_US","og_type":"article","og_title":"Strong Services Inflation Greets the Fed Before Pivotal Meeting","og_description":"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/","og_site_name":"IBKR Campus US","article_published_time":"2023-01-27T22:40:00+00:00","article_modified_time":"2023-02-09T20:57:22+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","type":"image\/jpeg"}],"author":"Jose Torres","twitter_card":"summary_large_image","twitter_title":"Strong Services Inflation Greets the Fed Before Pivotal Meeting","twitter_misc":{"Written by":"Jose Torres","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/"},"author":{"name":"Jose Torres","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e"},"headline":"Strong Services Inflation Greets the Fed Before Pivotal Meeting","datePublished":"2023-01-27T22:40:00+00:00","dateModified":"2023-02-09T20:57:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/"},"wordCount":721,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","keywords":["economic data","Fed","gasoline prices","gdp","inflation","macroeconomics","US Economics"],"articleSection":["IBKR Economic Landscape","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/","name":"Strong Services Inflation Greets the Fed Before Pivotal Meeting","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","datePublished":"2023-01-27T22:40:00+00:00","dateModified":"2023-02-09T20:57:22+00:00","description":"During a week of mixed messages on the economy, this morning\u2019s economic data has halted 2023\u2019s fast and furious equity rally.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/strong-services-inflation-greets-the-fed-before-pivotal-meeting\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","width":1000,"height":563,"caption":"Fed Reminds Us That Peak Isn\u2019t Pivot"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e","name":"Jose Torres","description":"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/jose-torres\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/fed-reserve-building-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/184359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/903"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=184359"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/184359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/182625"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=184359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=184359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=184359"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=184359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}