[San Francisco Fed Research: Abnormal Weather May Push Up US Inflation and Boost Employment in 2027] According to Jinse Finance, a new economic research report from the San Francisco Federal Reserve on November 3rd indicates that this year's exceptionally strong El Niño phenomenon may push up US food and core service prices and boost employment in 2027. The study estimates that El Niño has already raised the US Personal Consumption Expenditures (PCE) price level by about 0.3 percentage points from April to July this year, and this effect is expected to subside by the end of the year; however, if next year turns into a La Niña ("anti-El Niño") phenomenon, PCE inflation in 2027 may rise by an additional 1 percentage point. Regarding employment, the impact of El Niño on non-farm payrolls is usually not significant in the first year, but rather leads to job growth and a decrease in the unemployment rate in the second year. Researchers emphasize that this is not an inflation forecast, but rather a warning of potential upside risks to inflation next year. Currently, the intensity of El Niño exceeds all historical cases; the relevant research sample includes only 22 El Niño events since the 1950s, of which only 4 were exceptionally strong.