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Fast Take: U.S. Consumer Inflation Muted, Just Don’t Buy a Used Car | Investing News

Fast Take: U.S. Consumer Inflation Muted, Just Don’t Buy a Used Car | Investing News

(Reuters) – U.S. consumers on balance paid only a little bit more for goods and services last month as supply chain disruptions that contributed to a bump up in inflation over the summer began to ease, a welcome respite for the millions who remain unemployed.

While that easing pressure on pinched consumers might offer a benefit to Republican President Donald Trump’s reelection prospects against Democratic challenger Joe Biden, it does come with a big “on the other hand” caveat: It is the latest sign of fading momentum in the rebound from this spring’s record-setting economic slump.

A bit of inflation typically is an indication of strengthening demand, an encouraging signal that consumers have reliable sources of income allowing them to contribute to growing an economy that hinges extensively on their spending. But with roughly 11 million still out of work and desperate for a new round of COVID-19 relief from Washington, September’s modest uptick in prices is no such signal.

Here’s Jefferies chief financial economist Aneta Markowska’s take: “After several months of above-trend gains, price pressures are finally normalizing. Both headline and core CPI increased by just 0.2% (month-to-month) in September, with the underlying details painting an even weaker picture.”

Graphic: September CPI: All about used vehicles

In fact, she notes prices would have been unchanged but for one thing: The largest monthly increase in used car and truck prices since 1969. And with cash-strapped consumers increasingly reliant on their own transport to get to an on-site job, that’s no welcome development.

Food price increases, too, are moderating after a big run up in the spring, but where you eat makes a big difference.

If eating at home, as millions without work have no choice but to do, then food prices were lower for a third straight month.


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Fast Company’s Advice for the Next 25 Years

Fast Company’s Advice for the Next 25 Years

Something is happening, and it affects us all. A global revolution is changing business and business is changing the world.” That was how cofounders Bill Taylor and Alan Webber introduced Fast Company to readers in November 1995. “A new generation is rewriting the rules of business,” they added, and they emblazoned these new tenets on the cover: Work Is Personal. Computing Is Social. Knowledge Is Power. Break the Rules.


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Taylor and Webber’s manifesto proved prescient. But 25 years later, as society confronts a global pandemic, the worst economic downturn since the Great Depression, and demands to end systemic racism (on top of climate change and growing income inequality), it’s time to rewrite the rules yet again. Some changes had begun before the existential crises of 2020—hourly wage hikes, pledges to lower carbon footprints—but they were largely reactive, and not adopted broadly enough to meet this moment. Taylor, who has gone on to write three books about leadership, recently said, “It’s hard to sustain a great company in a deeply troubled society, to build a healthy corporate culture in a world where so many people struggle with discrimination, lack of access to healthcare, and a planet that keeps getting sicker.”

We editors asked the Fast Company Impact Council—an invitation-only group of forward-­thinking corporate and nonprofit leaders, CEOs, innovators, and founders—to help draft the new new rules of business. During a series of conversations this past summer, they aided us in developing a prescription for the next 25 years, and beyond. (Excerpts of these roundtables may be found on

Bring democracy to work

When the spread of COVID-19 forced many employees to work from home, all illusions about the value of hierarchical leadership “blew up,” says Aaron Levie, cofounder and CEO of enterprise tech company Box. “In fact, it’s

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X4 Pharmaceuticals Announces Fast Track Designation Granted by the FDA to Mavorixafor for the Treatment of WHIM Syndrome

X4 Pharmaceuticals Announces Fast Track Designation Granted by the FDA to Mavorixafor for the Treatment of WHIM Syndrome

BOSTON, Oct. 08, 2020 (GLOBE NEWSWIRE) — X4 Pharmaceuticals, Inc. (Nasdaq: XFOR), a leader in the discovery and development of novel therapies targeting diseases resulting from dysfunction of the CXCR4 pathway, today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation to its lead asset, mavorixafor, for the treatment of adult patients with WHIM (Warts, Hypogammaglobulinemia, Infections, and Myelokathexis) syndrome, a rare, inherited, primary immunodeficiency disease caused by genetic mutations in the CXCR4 receptor gene.

Mavorixafor is a potential first-in-class, once-daily, oral, small molecule antagonist of chemokine receptor CXCR4, currently being investigated in a global pivotal Phase 3 clinical trial, 4WHIM, for the treatment of WHIM syndrome.

“The Fast Track Designation of mavorixafor for the treatment of WHIM syndrome further recognizes WHIM as a serious condition with a clear unmet need for an effective and potentially disease-modifying therapy,” said Paula Ragan, Ph.D., President and Chief Executive Officer of X4 Pharmaceuticals. “We recently showed the potential therapeutic benefit of mavorixafor in a Phase 2 clinical trial in WHIM, with significant increases in white blood cell counts and reductions in infection rates and wart burden. We look forward to continuing to demonstrate mavorixafor’s clinical utility in WHIM syndrome in our ongoing Phase 3 clinical trial and working with the FDA to potentially bring this promising therapy to patients as soon as possible.”

The Fast Track Designation aims to facilitate the expedited development and review of new drugs that are intended to treat serious or life-threatening conditions and demonstrate the potential to address unmet medical needs. Through the Fast Track program, X4 will be eligible for more frequent meetings with the FDA to discuss the drug’s development plan, protocols and clinical data that would support mavorixafor’s potential approval for WHIM.

In addition to Fast Track

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