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<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>The economy <a href="http://www.businessinsider.com/october-jobs-report-november-7-2014-11">added to its jobs streak</a> today.</p>
<p>Nonfarm payrolls were up 214,000 in October, according to the Bureau of Labor Statistics. The unemployment rate dropped to 5.8%, the lowest it has been since the summer of 2008.</p>
<p>While the headline numbers are good, wage growth is still stagnant, rising only 2% year-over-year. As a result, Wall Street thinks this means the Fed won't feel too much pressure to raise interest rates sooner than anticipated.</p>
<p>From a note to BNP clients: "Today's employment report is likely to keep the FOMC on track to hike rates around Q2 2015 - with risks for earlier or later roughly balanced."</p>
<p>Captial Economics' Paul Ashworth shared the same sentiment: "Admittedly, the Fed doves could still cling to the news that, despite the decline in the unemployment rate, there is still no sign of a pick -up in average hourly earnings, which increased by a muted 0.1% m/m last month."</p>
<blockquote class="twitter-tweet" lang="en">
<p>NB: For the market, this report should be goldilocks. No slowdown, no pressure to tighten.</p>
- Joseph Weisenthal (@TheStalwart) <a href="https://twitter.com/TheStalwart/status/530716704788480000">November 7, 2014</a></blockquote>

<p> </p>

So, Don't Expect The Fed To Rush Rate Hikes

<ul class="summary-list"><li><keyword id="15710" type="ENTERTAINMENT" weightage="60" keywordseo="texas">Texas</keyword> high school <keyword id="15540" type="POSITION" weightage="60" keywordseo="teacher">teacher</keyword> Christina Garcia-Mata died while hiking on Monday. </li><li>She was hiking in the Franklin Mountains with her husband when she died. </li><li>Officials say she was swept down a mountain by rushing water after heavy rains. </li></ul><p>A high school teacher in Texas died while hiking this week after she was swept away by rushing water in the Franklin Mountains.</p><p>Christina Garcia-Mata, a teacher at Akins Early College High School, was found dead on Monday evening, El Paso fire and police officials <a href="https://www.elpasotimes.com/story/news/2021/06/28/el-paso-hiker-dies-after-being-swept-away-water-franklin-mountains/7791077002/">told the El Paso Times.</a></p><p>Garcia-Mata's husband, Gabriel Mata,<a href="https://kvia.com/news/local-news/2021/06/28/39-year-old-austin-hiker-killed-on-franklin-mountains-was-wife-teacher-mother/"> told KVIA</a> that he and his wife were hiking together in the Franklin Mountains near El Paso on Monday afternoon when she was swept away by a rush of water.</p><p>There was heavy rainfall in the area on Monday that caused flash flooding, <a href="https://www.star-telegram.com/news/nation-world/national/article252458143.html">officials told the Fort Worth Star-Telegram.</a></p><p>Officials told the El Paso Times that the rushing water swept Garcia-Mata down a mountain, and that the <keyword id="6355784" type="UNKNOWN" weightage="60" keywordseo="death">death</keyword> was accidental.</p><p>A GoFundMe to support Garcia-Mata's family <a href="https://www.gofundme.com/f/for-christy-garciamatas-loved-ones?utm_campaign=p_cp+share-sheet&amp;utm_medium=copy_link_all&amp;utm_source=customercustomer">has been created</a> in the wake of her death.</p><p><em>"</em>Christy was a beautiful soul whose kindness, happiness, and optimism brought so much goodness into this world. She was a passionate teacher who loved to sing, dance, and care for people. Christy adored music and the outdoors and traveled the world with her husband and son," the GoFundMe said. "Christy was a devoted mother, wife, daughter, sister, aunt, and friend to so many, and her loss is devastating to all."</p>

A Texas high school teacher died while hiking after being swept down a mountain by rushing water after heavy rain

<p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Stephanie Keith</span></p><p class="caption">Dennis Muilenburg, CEO of The Boeing Company, arrives at Trump Tower in New York City, US January 17, 2017.</p></div><p></p></div></div></span></p><p><span>Both the House and Senate passed the <a href="http://www.businessinsider.com/trump-gop-tax-reform-bill-final-text-details-brackets-rates-2017-12">final version of the Republican tax bill</a> on Wednesday, and a number of companies took the opportunity to announce special bonuses or pay hikes. </span></p><p><span>The bill </span><span>reduces the corporate tax rate to 21% from 35% while allowing a one-time repatriation of overseas cash. </span><span>Companies are mostly expected to buy back stock or </span><a href="http://www.businessinsider.com/gop-tax-bill-american-companies-to-use-repatriation-to-pay-down-debt-2017-12">pay down debt</a><span> with their savings. </span></p><p><span>T</span><span>he pay hike and bonus announcements are sure to please Republican lawmakers, who have been pitching corporate tax cuts as a boost for American workers.</span><span></span><span></span></p><p>Here's what has been announced so far:</p>

Companies are rushing to announce special bonuses and pay hikes after the GOP tax plan

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Something fascinating happened Wednesday.</p><p>The people who set monetary policy said something without explicitly saying it.</p><p>Bear with us.</p><p>Wednesday's Federal Open Market Committee (FOMC) statement leaned dovish, meaning we can expect monetary policy to remain loose and stimulative for a little while longer.</p><p>This was kind of surprising as most economists were expecting the Fed to stop using the phrase "remain patient" in talking about normalizing monetary policy (hiking interest rates).</p><p><a href="http://www.businessinsider.com/here-comes-the-fomc-statement-2015-3">In the statement</a>, the FOMC did indeed take out the language "remain patient."</p><p>However, the meaning of the existing language didn't change that much, according to a note from <span style="line-height: 1.5em;">Jefferies' Ward McCarthy, so it's unlikely that interest rates will rise in the next couple of meetings.</span></p><p><span style="line-height: 1.5em;">"</span><span style="line-height: 1.5em;">The word "patient" was removed, but the meaning of patient remained. </span><strong><span style="line-height: 1.5em;">Translation: this is a small step toward normalization, and liftoff is not on the </span></strong><span style="line-height: 1.5em;"><strong>immediate horizon</strong>," wrote McCarthy.</span></p><p><span style="line-height: 1.5em;">This willingness to not rush rate hikes was reinforced by <a href="http://www.businessinsider.com/fomc-dot-plot-march-18-2015-3">reductions in the Fed's forecasts for GDP growth and inflation</a>.<br /></span></p><p><span style="line-height: 1.5em;"><span>Because of all of this, McCarthy doesn't think an initial rate hike is going to happen as early as June.</span></span></p><p><span style="line-height: 1.5em;">Here's what the new FOMC language says: </span></p><p style="padding-left: 30px;">To support continued progress toward maximum employment and price stability, the Committee today <strong>reaffirmed its view</strong> that the current 0 to 1/4 percent target range for the federal funds rate <strong>remains appropriate</strong>. In determining how long to maintain this target range, <strong>the Committee will assess progress--both realized and expected--toward its objectives</strong> of maximum employment and 2 percent inflation.</p><p>Federal Reserve chair Janet Yellen said more or less the same think that McCarthy did (with the exception of a firm rate hike prediction) at the press conference following the FOMC statement.</p><p>"J<span>ust because we removed the word 'patient' doesn't mean we're going to be impatient," she said.</span><span><br /></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/beauty-standards-family-values-china-2015-2">What the Chinese saying 'The ugly wife is a treasure at home' actually means</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A2ZDA2czqSqbJOFG5SDDrvRmvRoUjAPm" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The Fed cleverly said something without actually saying it

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Chip Somodevilla/Getty Images</span></p><p class="caption">Federal Reserve Bank Chair Janet Yellen holds a news conference following a meeting of the Federal Open Market Committee at the Fed June 17, 2015 in Washington, DC.</p></div><p></p></div></div>After <a href="http://www.businessinsider.com/us-markets-sell-off-aug-24-2015-2015-8">Monday's market turmoil</a>, when a Chinese market crash boiled over into the rest of Asia, then Europe and the US, analysts are rushing to change their forecast for the Federal Reserve's first post-crisis rate hike.</p><p>For quite some time, analysts have been calling September as the month of the first increase in rates since 2006. But that call (known as Team September) is getting less and less consensual by the hour.</p><p>Analysts are now piling out of September, rushing to call a rate hike in December or even the first half of 2016, reckoning that the additional strengthening of the dollar and a bit of market panic will be enough to give the Fed cold feet.</p><p>A chart from Goldman Sachs researchers shows just how much US financial conditions have already tightened, spiking in recent days:</p><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Goldman Sachs" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/55dc2784dd08953e478b462e-960/screen shot 2015-08-25 at 9.23.28 am.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Goldman Sachs</span></p></div><p></p></div></div></p><p>Here's what analysts have been saying over the last 24 hours.</p><p><strong>Barclays analysts pushed out their expectation of the first US rate hike, from September to March 2016:</strong></p><p style="padding-left: 30px;">We move our call to for the first rate hike from September 2015 to March 2016. Given the uncertainty around the current global outlook, the timing of the rate hike seems more uncertain than usual. Should this episode of financial market volatility prove transitory, the FOMC could raise rates in December. On the other hand, if the volatility proves durable or reveals greater than expected weakness in global activity, the FOMC may push the first rate hike beyond March.</p><p><strong>Here's Nomura's take, sent out even before yesterday's market chaos was entirely clear:</strong></p><p style="padding-left: 30px;">We believe that the probability the FOMC will raise short-term interest rates for the first time in September has decreased materially while the probability of liftoff in December or no interest rate increase this year has increased. Nomura now only put a 20% probability of liftoff in September (previously 35%) while it has raised the likelihood of liftoff in December to 44% (previously 40%) and liftoff after December to 36% (previously 25%).</p><p><strong>World First's Jeremy Cook has also pushed along his rate hike expectation for both the US and <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>:</strong></p><p style="padding-left: 30px;">Given yesterday's moves I have moved my expectation of a Fed rate hike from September to December 2015 and a similar rise from the Bank of England from February 2016 to June 2016. I still don't think that the Fed should wait but likely will now.</p><p><strong>Morgan Stanley analysts also think December is now the more likely option left this year:</strong></p><p style="padding-left: 30px;">Ultimately, we think the Fed remains a cautious body that would want to see the dust settle before making a determination to move forward with a rate hike.They will likely take a pass on September, but we believe they will continue to stay hopeful of a hike in the not too distant future. We think that not too distant future is December. It is too early to throw in the towel on a rate hike this year-to do so at this point we think would send the wrong message to markets and risk pushing market jitters to greater heights.</p><p><strong><div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image"><a title_source="Investing.com" title_caption="Global stocks went though the floor on Monday." class="zoomin" href="https://static-ssl.businessinsider.com/image/55dc1311dd089540438b4600-960/screen shot 2015-08-25 at 7.56.53 am.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Investing.com</span></p><p class="caption">Global stocks went though the floor on Monday.</p></div><p></p></div></div>And here's the conclusion of Rabobank's morning email on Tuesday:</strong></p><p style="padding-left: 30px;">An improvement in consumer confidence to 93.4 in August from 90.9 in July would be another encouraging signal. In other words, fresh set of US data should be relatively positive and would keep the Fed on the path of gradual monetary policy normalisation with a hike in December our in house view.</p><p><strong>Andrew Parry at Hermes thinks the Fed will take a pass in September too:</strong></p><p style="padding-left: 30px;">The trade-weighted US dollar is marking new heights, compounding a slowdown in corporate profit growth, which looks vulnerable after six years of expansion. An interest rate rise by the Fed - more a virility symbol for the US economy's robustness than an immediate economic necessity - would only compound the angst gripping investors. We expect Fed Chair Janet Yellen to stay her hand in September, as a consequence.</p><p><strong>Societe Generale's Aneta Markowska says the French investment bank is maintaining its September call: </strong></p><p style="padding-left: 30px;">Financial conditions will play the key role in the Fed's decision to hike or not to hike at the September policy meeting. If current volatility persists for the next three weeks, the FOMC will almost certainly delay policy normalization. Since we do not have a crystal ball and prefer not to mark our Fed forecast to market on a daily basis, we maintain our call for a September lift-off while acknowledging that we have very little conviction in this or any other Fed forecast at this moment.</p><p><strong>John Higgins, chief markets economist at Capital Economics, also doesn't think the Fed will have been knocked off a September hike:</strong></p><p style="padding-left: 30px;">Our view, though, is that events in China are unlikely to deter the US central bank from hiking the federal funds rate in September and we continue to think that it will subsequently raise the federal funds rate faster and further than most expect.</p><p><strong>Bloomberg economists Carl Riccadonna, Josh Wright and Richard Yamarone argue that if the Fed is going to hike this year, it may have to be September:</strong></p><p style="padding-left: 30px;">While December may be desirable in terms of having the longest opportunity to digest economic data, market conditions are not ideal for initiating a tightening cycle. October is a clumsy option because there is no scheduled forecast update or press conference, although one could be scheduled either at the time of the meeting, or even in advance -- say at the September meeting. This may prove desirable if financial market volatility persists into early September. For the aforementioned reasons, September remains in play. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/50-cent-lifestyle-illusion-testifies-court-bankruptcy-curtis-jackson-2015-7">50 Cent testifies his lifestyle is an illusion</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BoeGRmdjoMc4sxqQrQiRAH_i98W5p0IW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

A lot of analysts are saying the Fed will chicken out in September

<ul class="summary-list"><li><keyword id="11648834" type="UNKNOWN" weightage="60" keywordseo="sophia-cheung">Sophia Cheung</keyword>, an influencer from Hong Kong, reportedly died after falling from a waterfall on Saturday.</li><li>The Pamela Youde Nethersole Eastern Hospital appeared to confirm the <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> in a statement to Insider.</li><li>Cheung was known for her hiking adventures and daredevil stunts on Instagram.</li></ul><p>Sophia Cheung, an influencer from Hong Kong, reportedly died in the hospital after falling while taking a picture on Saturday.</p><p><a href="https://www.dailymail.co.uk/news/article-9784201/Daredevil-falls-death-taking-selfie-Hong-Kong-waterfall.html">The Daily Mail</a> and other outlets reported that the 32-year-old was with a group of friends near Ha Pak Lai, a popular park near the renowned Hong Kong hiking destination Pineapple Mountain, when she fell.</p><p>While snapping photos at the edge of a waterfall on the Tsing Dai stream, Cheung slipped and plunged into a 16-foot-deep pool, The Daily Mail said. Cheung's friends notified emergency services, which pulled her from the water, the report said.</p><p>The report said she was rushed to the Pamela Youde Nethersole Eastern Hospital, where she was pronounced dead.</p><p>A statement from a person identified as a hospital authority at Pamela Youde Nethersole Eastern appeared to verify the news. "It is confirmed that a 32-year-old woman has been sent to Pamela Youde Nethersole Eastern Hospital and was certified dead at HK time 7:59pm on 10 July," the spokesperson wrote.</p><p>Cheung, whose Instagram account, @hike.sofi, has over 19,000 followers, was known for her nature photography and hiking stunts like <a href="https://www.instagram.com/p/CMw6t6pjz9P/">dangling her feet</a> off a cliff and hanging off the edge <a href="https://www.instagram.com/p/CMe9tCnDQxD/">using only her hands</a>.</p><p>Her Instagram bio said she enjoyed hiking, kayaking, exploring, photography, and outdoor activities. "Life should be fun not dumb," it said.</p><p>Her most recent Instagram photo, posted Thursday, showed her kneeling on a shore with her arms around a yellow boogie board. "Better days are coming. They are called: Saturday and Sunday," the caption said, adding the hashtags #naturelover, #explorehongkong, and #yolo.</p><p>Friends and fans mourned the hiking star in the comments on her recent post.</p><p>"Rip Sophie!" one user wrote. "I can't believe last week I still chat with you."</p><p>"I thought better days are coming with Saturday and Sunday?" another user commented. "I will miss your chat every day. I love you always. Rest in peace."</p><p>Hundreds of others simply wrote "RIP."</p><p>Reports of Cheung's death follow other hiking-related fatalities including Erica Liane Tavares, a 23-year-old Portuguese Instagram <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> influencer who fell from a waterfall in Chiapas, Mexico, in early July, <a href="https://au.news.yahoo.com/instagram-influencer-23-dies-waterfall-tragedy-tourist-spot-045908989.html">Yahoo News reported</a>.</p><p><a href="https://www.insider.com/culture"><strong>To read more stories like this, check out Insider's digital-culture coverage here</strong></a>.</p>

Hospital appears to confirm death of Hong Kong influencer who reportedly died while taking waterfall photo

<p><strong></strong></p><ul class="summary-list"><li>British economist Ann Pettifor criticized central banks for choosing a 'class war over financial stability.'</li><li>Central banks have been trying to tame inflation with higher interest rates.</li></ul><p>A leading economist who correctly predicted the <a href="https://www.businessinsider.com/personal-finance/what-caused-the-great-recession">Global Financial Crisis</a> <a href="https://www.annpettifor.com/2006/10/the-coming-first-world-debt-crisis/">back in 2006</a> has criticized central banks for waging a "class war" in their pursuit to crush inflation with higher interest rates — which has hit the banking sector.</p><p>In a Substack newsletter titled 'banks as collateral damage in a class war' published Sunday, <a href="https://annpettifor.substack.com/p/banks-as-collateral-damage-in-a-class" target="_blank" rel="noopener">British economist Ann Pettifor</a> hit out at "the predicted and deplorable outcome of recent decisions by central bankers" who have been hiking interest rates aggressively in the past year.</p><p>"In other words, their effective preference is for class war over financial stability," she wrote.</p><p>Pettifor took a swing at central bankers for contributing to the current bank crisis, which makes the financial institutions collateral damage to their policy moves.</p><p>She's likely alluding to the Fed's aggressive rate hike cycle, which <a href="https://markets.businessinsider.com/news/stocks/svb-failure-goldman-sachs-fed-interest-rate-hike-march-powell-2023-3">hit the value of Silicon Valley Bank's bond holdings</a> — in turn, triggering a series of events that led to its <a href="https://markets.businessinsider.com/news/stocks/svb-silicon-valley-bank-collapse-jpmorgan-morgan-stanley-bank-stocks-2023-3">closure by regulators</a> on March 10.</p><p>"Through lack of analysis, regulation, oversight and foresight - central bankers have shown this last week they were prepared to use high rates to risk and even precipitate bank failures and global financial instability," she wrote.</p><p>This is even though economies have not fully recovered from the Global Financial Crisis and the pandemic, she added.</p><h2>'Central banks seem willing to sacrifice private banks in their rush to raise rates'</h2><p>She even said that civil servants that head up central banks seem willing to sacrifice private banks and global financial stability in their rush to raise rates, crush demand, discipline workers and shrink the nation's income.</p><p>Some, like <a href="https://www.businessinsider.com/central-banker-says-workers-shouldnt-demand-big-pay-bump-inflation-2022-2">Bank of England chief Andrew Bailey,</a> even called on workers to hold off on asking for big pay raises because that will make inflation worse.</p><p>US Fed chair Jerome Powell <a href="https://www.politico.com/news/2022/11/30/feds-powell-inflation-workers-wages-00071403" target="_blank" rel="noopener">said in November</a> that a labor shortage and higher wages were the biggest hurdles to taming inflation.</p><p>Higher interest rates make borrowing for anything from mortgages to credit cards more expensive. And it encourages people to save rather than spend, which in theory, helps bring down prices. But it <a href="https://markets.businessinsider.com/news/stocks/ray-dalio-recession-stagflation-economy-fed-rate-hikes-make-good-2022-6?utm_medium=ingest&amp;utm_source=markets" rel="">takes a while for the effects to be felt</a> and the risk is that the central bank raises rates to the point where the economy slows down and even tilts into recession, as demand contracts. </p><p>But Pettifor argues that inflation is caused by speculation in the commodity markets and not wages.</p><p>"If workers demand higher wages to deal with the inflationary impact of higher energy and other commodity prices — that is a consequence, not a cause of commodity price inflation — that regulators and central bankers refuse to manage or regulate," she wrote.</p><p>Markets are closely watching the Fed's two-day meeting that ends Wednesday for their interest rates decision. The US central bank already hiked interest rates eight times over the past year to its targeted levels of <a href="https://www.newyorkfed.org/markets/reference-rates/effr" target="_blank" rel="noopener nofollow">4.5% to 4.75%.</a></p>

You Searched For "rush by hike" and got 7 results

So, Don't Expect The Fed To Rush Rate Hikes

Shane Ferro

A Texas high school teacher died while hiking after being swept down a mountain by rushing water after heavy rain

Kelly McLaughlin

Companies are rushing to announce special bonuses and pay hikes after the GOP tax plan

Matt Turner,Jonathan Garber

The Fed cleverly said something without actually saying it

Shane Ferro

A lot of analysts are saying the Fed will chicken out in September

Mike Bird

Hospital appears to confirm death of Hong Kong influencer who reportedly died while taking waterfall photo

Kieran Press-Reynolds

Central banks' obsession with holding down wages has led to banks becoming 'collateral damage in a class war,' says GFC veteran economist

Huileng Tan

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