# FedViews: January 18, 2024 - San Francisco Fed

> San Francisco Fed economist Michael Bauer described declining inflation, with headline PCE at 2.6% and core CPI at 3.9% over 12 months. He said the labor market remains strong, with December payrolls up 216,000 and unemployment at 3.7%. He flagged wage growth as an upside risk to inflation.

- Date: 2024-01-18 · published 2024-01-18T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32043-fedviews-january-18-2024-san-francisco-fed
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Persistent labor and wage strength could delay Fed easing, keeping the dollar firm and financing costs high. That is a modest headwind for commodity demand and prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-01-19 | [The Fed - Foreign Exchange Rates - H.10 -  January 19, 2021](https://feedsoft.ai/events/49357-the-fed-foreign-exchange-rates-h-10-january-19-2021.md) | +0.1% | +0.5% |
| DXY | 2021-01-04 | [The Fed - Foreign Exchange Rates - H.10 -  January 04, 2021](https://feedsoft.ai/events/49341-the-fed-foreign-exchange-rates-h-10-january-04-2021.md) | -0.0% | +0.9% |
| DXY | 2023-01-30 | [The Fed - Foreign Exchange Rates - H.10 - January 30, 2023](https://feedsoft.ai/events/38039-the-fed-foreign-exchange-rates-h-10-january-30-2023.md) | +0.5% | +2.1% |
| DXY | 2025-02-13 | [PPI report January 2025: Prices rose 0.4%](https://feedsoft.ai/events/25973-ppi-report-january-2025-prices-rose-0-4.md) | -0.9% | -1.8% |
| DXY | 2022-02-28 | [The Fed - Foreign Exchange Rates - H.10 -  February 28, 2022](https://feedsoft.ai/events/42904-the-fed-foreign-exchange-rates-h-10-february-28-2022.md) | +1.2% | +0.5% |

## Sources

- frbsf.org: https://www.frbsf.org/research-and-insights/publications/fedviews/2024/01/fedviews-january-18-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.