The most recent inflation data were quite encouraging." Treasury Secretary Janet Yellen feels similarly, saying during a Bloomberg TV interview last week that "growth has slowed, but our labor market continues to be quite strong. "The main reason for our cut is that the recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession," he wrote. For example, Goldman Sachs' Chief Economist Jan Hatzius predicted in a bank note last week that the odds of a recession in the next 12 months now stand at 20%, down from an earlier 25% forecast. But while 2023 began with fears of recession circulating, it's now looking more likely the US might be able to achieve a soft landing, in which the country can continue fighting high prices while avoiding a severe economic downturn. It's unclear how many additional hikes, if any, are in store for Americans this year. "It may make sense for rates to move higher but at a more moderate pace." "The main issue that we're focused on now is determining the extent of additional policy firming that may be appropriate to return inflation to 2% over time-so that the pace of the increases and the ultimate level of increases are separate variables, given how far we have come," Powell said during the June press conference. Still, as Fed Chair Jerome Powell has repeatedly said, the Fed continues to have a 2% inflation target, meaning more rate hikes will likely be necessary to achieve that goal. It comes on the heels of data showing inflation continuing to slow - the latest Consumer Price Index data showed a 3.0% year-over-year increase in June, down from 4.0% in May. On Wednesday, the Federal Open Market Committee announced it would be raising interest rates by 25 basis points, following a decision to pause rate hikes in June. The nation's central bank just made its latest move to fight inflation. Special Thanks to Ewa Wojciak for her Los Angeles support, to John C.Account icon An icon in the shape of a person's head and shoulders. “To market, to market,” Songs for the Nursery, 1805 Ray Bradbury, The Pedestrian, New York 1951 Fahrenheit 451 (60th Anniversary ed.), New York 2012 Popol Vuh “Vergegenwärtigung” courtesy Edition Popol Vuh, licensed to SPV Records, all rights reservedįotini Markopoulou-Kalamara, “Space does not exist, so time can,” 2008 (Perimeter Institute for Theoretical Physics) Popol Vuh “Nachts Schnee / Night Snow” (Mika Vainio Edit) courtesy Edition Popol Vuh, licensed to SPV Records, all rights reserved Of Southern California, Runyon Canyon, Bradbury Building, Wilshire Boulevard, Ennis House, Google Venice Beach, Red Studios Hollywood, Westward Beach / Malibu Harper Dry Lake, Mojave Desert, Sun Valley, LAX Airport Landing Viewpoint, Highland Park Full Gospel Assembly, Otis College of Art and Design, University Bourlong, Janice Chan, Raymond Courtney, Nancy Gudu, Catalina Gutierrez, Trajan Heine, Woody Kim, Mingshan Li, Tyler Lowmiller,Įric Lui, Cameron Maldkoff, Paloma Martinez, Meri Matevoeyan, Atonia Merkulova, Clemence Morin, Terrin Morris, Cecilia Napoli, Zoe Polunus, Fernando Leon-Ramos, Tyler Thompson, Mark Vougen, Faith Wada, Rachel Ward, Diana Zatikyan Students: Aditya Aggarwaz, Boonsita Arunyakanon, Anahit Anna Azizian, Jackson Berry, Simran Bhari, Maria Paulina E. Post production supervisor: Barbara Simon Production assistant: Shanalynne Wessner, Producer/production manager: Karen Marie Hernandez Set design, props: Mike Lopez, Brendan J. Despite his efforts, the fiction repeatedly collapses and Fran finds himself trapped in a present journey, which is marked by untoward social encounters and relished by moments of estrangement, melancholia and alienation.Īdditional camera: Hunter Kerhart, Hiroshi Clarkĭrone operator: Zhubin Rahbar, Elizabeth Tashiro Fran Athens, a character shifting between masquerade and sci-fi personage, tries to resist this proclamation of finitude, creating the illusion of embodying a character within a “real” science fiction narrative. VERTICAL HORIZON is situated “after the future,” as Franco Berardi puts it, when utopian visions have come to an end.
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