Top 6 – June 2017

timjsmith

Tim J. Smith, PhD
Founder and CEO, Wiglaf Pricing

Published June 16, 2017

“The central bank voted to raise its key rate target to a range of 1% to 1.25%.

That’s the highest level since 2008, when policymakers cut rates to encourage borrowing and spending after the financial crisis.” – BBC News

  1. “Our decision … reflects the progress the economy has made and is expected to make,” said Federal Reserve Chair Janet Yellen
  2. “Data on Wednesday showed US consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months.”
  3.  Should the Fed have done it?
  4. “Inflation is below the target of 2%. But then Fed Chair Janet Yellen thinks a large part of that is down to falls in specific prices.”
  5. “The rate rise continues the Fed’s slow return to normality after the financial crisis. The journey is not over.”
  6. Per economic history, we just have to wait and see.

About The Author

timjsmith
Tim J. Smith, PhD, is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Done Right (Wiley 2016) and Pricing Strategy (Cengage 2012). At Wiglaf Pricing, Tim leads client engagements. Smith’s popular business book, Pricing Done Right: The Pricing Framework Proven Successful by the World’s Most Profitable Companies, was noted by Dennis Stone, CEO of Overhead Door Corp, as "Essential reading… While many books cover the concepts of pricing, Pricing Done Right goes the additional step of applying the concepts in the real world." Tim’s textbook, Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures, has been described by independent reviewers as “the most comprehensive pricing strategy book” on the market. As well as serving as the Academic Advisor to the Professional Pricing Society’s Certified Pricing Professional program, Tim is a member of the American Marketing Association and American Physical Society. He holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB.