Expectations that inflation has eased fueled recent stock market gains, but results from two major price-tracking indexes came in higher than expected, dousing that optimism with cold water. The statistics from these reports have economists predicting that the Federal Reserve will continue to raise interest rates to get inflation under control.

 “The latest figures underscore the risks of persistently high inflation. Much of the easing that was celebrated at the end of last year has been erased,” said David Bieri, an economics professor for Virginia Tech’s School of Public and International Affairs. He answered a few questions about the persistence of inflation and the Federal Reserve’s efforts to reverse it. 

 Q: What is the difference between the Consumer Price Index (CPI) and the Personal Consumption Expenditures Price Index (PCE)?

“The CPI is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services. This basket includes commonly purchased items such as food, housing, clothing, transportation, and medical care. The rate of inflation (or deflation) is then inferred by comparing the price of this basket to a base period. The PCE is the one used by the Federal Reserve. Unlike the CPI, the PCE measures not just goods and services for urban consumers, but the prices of all goods and services purchased by households. While the CPI uses a fixed basket of goods and services, the PCE uses a changing basket of goods and services that reflects consumers’ evolving spending patterns. Also, the PCE incorporates data on the quality of goods and services.” 

Q: What can be deduced about inflation and the economy from these new statistics? 

“Different components of the indexes react to different influences of the economic process, and they also do so at different speeds, or as economists like to say, with different lags. For example, fuel and gas prices react with very little delay and if the price of crude oil goes up, it does not take long for these effects to show up. But this is not the case for other important components. Quite a bit of the recent uptick in inflation has to do with the fact that it has taken so long for the post-COVID related upswing in housing to show up in the data. As for the most recent PCE numbers, these were unexpected and point in the direction of more entrenched inflation.  In other words, inflation is not done yet.”

Q: What do these results indicate about the Federal Reserve’s efforts to curb inflation? 

“The Fed has to be patient. If we take the image of interest rates working like a brake pedal, the Fed is driving a car on a windy road with a blacked-out windscreen and when it brakes, it can only guess how soon the car — that is, the economy — will slow down, let alone by how much and when the next bend will be. However, the Fed has one key trick up its sleeve: unlike the hapless driver of our car, the Fed can influence how many bends in the road might show up in the future. It does this by something that we call ‘forward guidance,’ which is a wonky term for how the Fed’s attempts influence consumer and market expectations of consumers and market participants. Essentially the Fed is saying that if we stop believing there will be inflation in the future, there actually won’t be any.” 

 About Bieri 
David Bieri is an associate professor of urban affairs in the School of Public and International Affairs and an associate professor of economics. He also holds an appointment in the Global Forum on Urban and Regional Resilience. His teaching interests are at the intersection of public finance, monetary theory, and history of economic thought. He has held various senior positions at the Bank for International Settlements in Basel, Switzerland. Prior to his work in central banking, he worked in investment banking in London and Zurich. View Bieri’s full bio.

Source: Virginia Tech

In partnership with Department of the Air Force Digital Transformation Office, the Catalyst Accelerator Ogden launches its Spring 2023 cohort of eight innovative small businesses with technology solutions to accelerate and automate DAF certification processes.

OGDEN, Utah (Newswire.com) – The Catalyst Accelerator Ogden (CAO) is launching its second cohort in partnership with the Department of the Air Force (DAF) Digital Transformation Office (DTO). Eight small businesses from across the United States will come together to solve a stated DAF challenge statement focused on Digital Model Certification (DMC).

The Catalyst Accelerator Ogden exists to empower nontraditional technology companies to accelerate their involvement in the national defense ecosystem by providing connections, mentorship, and business development in a collaborative setting for a lasting national impact. USAF certification processes (i.e. airworthiness, cyber security, nuclear surety) require timely input and assessment of underlying engineering to assist certification teams. With the rise of digital twins, model-based engineering, and Dev*Ops, certification of complex weapon systems has expanded beyond what humans can do in a timely fashion. Therefore, in partnership with the DAF, the Catalyst Accelerator Ogden sought disruptive technologies and capabilities to help accelerate and automate certification processes.

Each company will collaborate with subject matter experts, work with government and commercial Sherpas, and complete an intensive customer discovery process. The cohort culminates with Demo Day on May 24 in Ogden, where they will pitch their technology to Government and Industry partners.

Accelerator in Session: March 7 – May 25, 2023 

Kickoff Event: March 9, 2023 (FREE! register here)

Demo Day: May 24, 2023 (FREE! save-the-date registration here) 

The CAO team, with technical advisement from both Government and Industry experts, selected the following small businesses to participate in the upcoming cohort:

• Acuity Innovations (Colorado Springs, Colorado)
• GURU Technologies (Layton, Utah)
• InnoVet (Dover, Delaware)
• Intrinsic (Newcastle, Washington) 
• OP Media (Draper, Utah) 
• Prewitt Ridge (Los Angeles, California)
• RedShred (Baltimore, Maryland)
• Tensor Networks (Sunnyvale, California)

See attachment for additional company details.

Involvement Opportunities:

The CAO is enhanced by partnerships with Weber State University, sponsors, and industry mentors. The kickoff event and Demo Day are both sponsored by Field Aerospace. If you are interested in sponsorships or partnerships, contact Amanda McCrea.

About Catalyst Accelerator Ogden

The CAO is a collaborative program hosted by Catalyst Campus for Technology and Innovation (CCTI, a Colorado 501(c)3) in partnership with the DTO to provide a robust, mentor-driven curriculum for Accelerator companies. It is a defense and national security industry accelerator, headquartered at CCTI in Ogden, Utah. CCTI is a collaborative ecosystem where industry, small business, entrepreneurs, startups, government, academia, and investors intersect with Utah’s aerospace and defense industry to create community, spark innovation, and stimulate business growth. 

Contact:

Amanda McCrea (Program Manager), [email protected], LinkedIn

Source: Catalyst Accelerator Ogden

Roobet’s new Chief Ganjaroo Officer (CGO) is going to change the crypto casino game.

LONDON /PRNewswire/ — Roobet, the pioneering entertainment brand and one of the world’s fastest-growing crypto casinos, is thrilled to announce that it will be partnering with international superstar Snoop Dogg. 

Snoop Dogg – music legend, entrepreneur, and newly-appointed Chief Ganjaroo at Roobet – will be partnering with Roobet and its parent company Raw Entertainment as they both seek to transform the future of the online entertainment industry. The partnership will bring together Snoop’s vast global reach and industry expertise with Roobet’s innovative technology and eye for the crypto frontier. As a well established denizen of the metaverse and collector of digital real estate, the partnership represents Snoop’s latest venture into the web3 space. 

“Turns out, I’ve been a kangaroo this entire time,” said Snoop Dogg. “These guys are doing something different. This partnership just feels natural, and we’re going to blaze a trail for the future of online entertainment. I been sayin’ Roooooo for a long time now – they bring the ultimate player experience, we share the love of doing new things, and we care about our fans – so together we’re gonna change the game and do it better than it’s ever been done.” 

Roobet co-founder Matt Duea added: “Since day one, our mission has been to push the boundaries of what a gaming brand can be, and Snoop’s a real visionary. Together, we’re going to truly revolutionize the online entertainment experience. Our community means everything to us, and we’re committed to providing them with the most exciting and immersive online casino experience out there. With Snoop by our side, the future of digital entertainment is looking brighter than ever. Get ready!”

Together, Snoop and Roobet are reimagining the way the worlds of entertainment and iGaming intersect, combining Snoop’s three decades of industry expertise in show business and Roobet’s innovation and passion for pursuing fun on the digital frontier. “You already know what happens when the Dogg is on it,” said Snoop, as this next step in his relationship with Roobet promises to shake up the industry and bring players a one-of-a-kind gaming experience.

To celebrate the partnership’s launch, Roobet and Snoop are planning loads of fun ways to get the whole community involved, including: a $100,000 cash prize raffle with grand prizes including meet-and-greets, backstage passes to Snoop’s shows, exciting welcome offers for new users, and much more. Eligible participants can visit roobet.com to join, or roobet.fun which is coming soon.

Roobet has taken the world by storm since its inception in 2019 as a pioneering lifestyle brand powered by the innovation behind blockchain technology and web3. Founded by gamers and enjoyed by crypto crusaders around the world, Roobet aims to push the boundaries of what an online casino can be while embracing the values of the next generation of players. This partnership with Snoop Dogg is testament to its commitment to delivering best-in-class entertainment experiences and blazing a trail for a new era of digital fun. 

More details on the partnership and its initiatives will be announced in the coming weeks.

ABOUT ROOBET

Roobet is the bellwether of the disruptive & explosive crypto industry, and is celebrated in the crypto and gaming spheres as we see a tidal shift in gaming from offline to online. As one of the world’s fastest growing fully-licensed crypto casinos – providing a next-generation entertainment experience on an innovative and secure platform accessible to eligible gamers worldwide,  Roobet  offers over 3,300+ games from world class iGaming studios, a fully-featured Sportsbook, plus original IP. What started as a niche casino for crypto enthusiasts has hit the mainstream, with over 3 billion wagers abroad. With over 300M views on TikTok, the drumbeat from Gen Z and Millennials is building – Roobet is a casino “for the internet, by the internet”.

A division of Raw Entertainment B.V., Roobet has a mission to advance everyday applications of blockchain and cryptocurrency technology, while also supporting the content creator economy from which it was born. 

SOURCE Roobet.com