On today's show, CNBC.com's Pippa Stevens breaks down the UN's climate warning and how the bipartisan infrastructure bill could mitigate carbon emissions.
Landmark U.N. report delivers stark warning on climate change, says it’s ‘code red for humanity’
A highly anticipated report by the U.N.'s climate panel warns that limiting global warming to close to 1.5 degrees Celsius or even 2 degrees Celsius above pre-industrial levels "will be beyond reach" in the next two decades without immediate, rapid and large-scale reductions in greenhouse gas emissions.
Sharp post-pandemic price increases in some parts of the economy appear to be fading, but rent is one area in which inflation is expected to stick around., well below the 0.9% pace in June. Core consumer prices, excluding food and energy, rose 0.3% last month, shy of economists' expectations for a 0.4% gain. Year-over-year, the CPI rose 5.4% year-over-year in July, the same as June.
Private sector reports show double-digit increases in rents across the U.S. this year, but the consumer price index actually showed a slight moderation in rental price gains in July. Economists say that should change as the Bureau of Labor Statistics data catches up, and the increases should be enough to keep the debate going about whether rising inflation is temporary.
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