Stephen Miller, director of research at UNLV’s Center for Business and Economic Research, said the Fed is stuck “between the rock and the hard place,” as it works to bring down the inflation rate without causing too many job losses.
Miller likened the Fed’s situation to trying to land a plane on an aircraft carrier with a runway that is too short. The Fed must be precise to navigate a “soft landing” for the economy.
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With lithium batteries and solar energy, how big can Nevada’s energy economy get? (KNPR)
But Andrew Woods, the director of the UNLV Center for Business and Economic Research, said Nevada is an ideal location for the emerging industry.
“We like to follow the money,” he said. “We started seeing interest in companies coming to Nevada … 16 companies in some way involved in the lithium battery industry.”
New Nevada minimum wage starts today, but inflation taking toll (Las Vegas Review Journal)
Data from UNLV’s Center for Business and Economic Research shows the effect will be minimal. Only 0.9 percent of the state’s workers earn at or below the minimum wage. Louisiana leads the country in share of minimum wage workers at 3.2 percent, Director of Research Stephen Miller said via email.
Minimum wage set to bump up in Nevada July 1st (News 3 Las Vegas)
Dr. Stephen Miller, with the Center for Business and Economic Research at UNLV and a professor of economics, points out that minimum-wage workers make up less than one percent of Nevada’s workforce.
“In some ways, the minimum wage sets the floor, so when that goes up, that could tend to ratch up a few other wages up the line,” he said.
https://news3lv.com/news/local/minimum-wage-set-to-bump-up-in-nevada-july-1st
Harry Reid Airport Sees Delays, Cancellations Impacting Las Vegas Weekend Travel (Casion.org)
Stephen Miller, director of research at UNLV’s Center for Business and Economic Research, told Casino.org last week that airfares “are high at the moment.”
“But the bottom seems to drop out of air ticket prices in September,” Miller said. “Rather than visit Las Vegas in summer, some may wait until fall.”
Buckle up, turbulence ahead for the Las Vegas economy (The Nevada Independent)
The UNLV Center for Business and Economic Research (CBER) believes that the Fed figuratively lies between “the rock and a hard place.” The rock is the need to control inflation and the hard place is the possible recession caused by a wrongly calibrated withdrawal of monetary stimulus.
Road to Recovery: High inflation remains top issue as economic forecasts dim for 2023 (The Nevada Independent)
Though speakers’ economic outlooks varied slightly — some expressed concerns that 2023 will bring a mild recession, while others were hopeful that recent economic momentum will overpower surging prices — each focused their remarks on the national inflation rate, which sits at a 40-year high.
Inflation continues to hammer Nevadans. Where is the state’s economy heading? (KNPR)
Soaring prices for gas, food, housing and construction supplies continue to hammer Nevadans.
Andrew Woods, of UNLV’s Center for Business and Economic Research, recently said “it feels in 24 months that the world is completely different in Vegas.”
https://knpr.org/knpr/2022-04/inflation-continues-hammer-nevadans-where-states-economy-heading
Economists predict ‘new normal’ for Las Vegas tourism (Las Vegas Sun)
Las Vegas visitor volume has steadily increased since the pandemic lows of early 2020, but economic researchers from UNLV predict tourist activity will dip next year.
https://lasvegassun.com/news/2022/apr/21/economists-outlook-for-las-vegas-its-going-to-be-a/
It’s hard to do both: Las Vegas weigh the costs of inflation (Las Vegas Review Journal)
“For the average family of four right now, depending on what their employment is, they are, in theory, having less purchasing power and actually losing money — not gaining it — as a result of inflation,” Woods said.
‘It’s hard to do both’: Las Vegans weigh the costs of inflation