---------- Forwarded message ---------
From: Joyce Segal <joyceck10@gmail.com>
Date: Thu, Dec 15, 2022 at 12:45 AM
Subject: Tidbit 12/17/22
To: Kim Cooper <kimc0240@gmail.com>
From: Joyce Segal <joyceck10@gmail.com>
Date: Thu, Dec 15, 2022 at 12:45 AM
Subject: Tidbit 12/17/22
To: Kim Cooper <kimc0240@gmail.com>
The Bureau of Labor Statistics reported yesterday that inflation continued to slow its roll in November, as US consumer prices rose just 0.1% from the previous month. Compared to a year ago, prices were up 7.1% in November, which is actually the fifth consecutive month of declining annual inflation.
The inflation figures were lower than economists predicted, furthering the relatively cheery mood ahead of today's Federal Reserve interest rate announcement. Plateauing consumer prices are a signal to the Fed that it can start to chill with historically massive rate hikes that have been slowing the economy. And it plans to: Chair Jerome Powell is expected to increase interest rates by 50 basis points today, lower than the 75 bps increases announced at the previous four meetings.
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The inflation figures were lower than economists predicted, furthering the relatively cheery mood ahead of today's Federal Reserve interest rate announcement. Plateauing consumer prices are a signal to the Fed that it can start to chill with historically massive rate hikes that have been slowing the economy. And it plans to: Chair Jerome Powell is expected to increase interest rates by 50 basis points today, lower than the 75 bps increases announced at the previous four meetings.
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