Here at Bold Favor Media Group we strive to not only seeing people have bold achievements but get an understanding of opportunities that are accessible to you. I had the distinct pleasure of conversing with Tiffany Elise, Economist for the Bureau of Labor Statistics. Not everyday do you meet an economist, in fact you can go your entire life and not know what they do. Not here at Bold Favor. We want you to have the knowledge and Ms. Elise agrees.
So, what does an economist do? “Working for the bureau, I develop information for the Consumer Price Index.” Like me I’ve heard of CPI but never met someone who came up with the CPI until Tiffany. “(The CPI) includes almost everything, such as milk, vehicles, mortgage rates.” The Stock Market fluctuates according to CPI, that supply and demand. “If crops are destroyed in California and avocados become a higher demand but the supply is low, then the cost will go up, but the demand must be there to drive that cost up.”
Tiffany has been doing this for a little over five years and in this time she has learn some important lessons for her own life. Such as economist also deal with understanding the Real Estate market and refinancing. “The caller makes it sound real good that their company can lower your payments by refinancing…. just know that refinancing always cost you and adds more years to the end of your mortgage.”
From her fact finding trainings to conducting surveys and visiting different locations to see how consumers buy, she is gathering information to fuel the price index. Anytime you go shopping or fill out a survey or negotiate a car sale, know that someone like Tiffany is taking the information on the how you respond to the products that are out there, to come up with future cost.
We need more Economist or at least more people understanding how people consume, make decisions and buy influences the future, credit rate, mortgage rate, interest rate and the CPI. Your influence the economy and keeps it growing and you must keep it growing in your community. Walk boldly & economically into that future.