• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Inflation Remains Elevated As Fed Eyes Last Meeting Of The Year
Business

Inflation Remains Elevated As Fed Eyes Last Meeting Of The Year

November 14, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
President Biden Signs Memorandum Establishing First-Ever White House Initiative On Women
Share
Facebook Twitter LinkedIn Pinterest Email

Inflation decelerated in October but remains well above the Federal Reserve’s target, with time left for one more interest rate hike before the end of the year, according to the latest Bureau of Labor Statistics (BLS) release on Tuesday.

The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.2% on an annual basis in October, compared to 3.7% in September, slightly below expectations of 3.3%, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.0% year-over-year in October, compared to 4.1% in September. (RELATED: Less Than A Quarter Of Democrats Say They Are Better Off Financially Under Biden: POLL)

“The idea that earnings are outpacing inflation is a lie,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Unfortunately, inflation isn’t going away until we get the spending and borrowing in DC under control, and there’s no sign of that happening anytime soon. The lack of stable prices is going to continue dragging on the economy. You simply never have inflation like we’ve seen the last two and a half years and then not have a recession.”

The deceleration was fueled by a decrease of 2.5% in the price of energy just in October, offsetting other increases, according to the BLS. Costs in the sectors of shelter and food both increased in the month, rising 5.5% and 3.3% for the year, respectively, being big contributors to the increase year-over-year.

See also  Fed done hiking rates, but higher for longer message gaining traction: Reuters poll

Inflation has persistently remained far above the Fed’s 2% target, peaking at 9.1% in June 2022. The Federal Reserve, in an attempt to tame inflation, has raised its federal funds rate 11 times since March 2022, to a range of 5.25% and 5.50%, a 22-year high.

Initial read of Nov consumer sentiment tanks again w/ inflation expectations marching even higher than Oct’s spike: long-run expectations hit 3.2%, highest level since 2011; Powell & Co. have completely lost control but are more concerned w/ financing Yellen’s borrowing binge… pic.twitter.com/iwtgSH42wR

— E.J. Antoni, Ph.D. (@RealEJAntoni) November 11, 2023

The Federal Open Market Committee is set to meet for the last time for the year over December 14 and 15 to decide whether to raise its federal funds rate another 0.25% to put more downward pressure on inflation.

The third quarter of 2023 exhibited above-trend economic growth, with Gross Domestic Product measuring 4.9%. The job market in October slowed down compared to previous months, adding only 150,000 nonfarm payroll jobs in the month compared to 297,000 in September.

“There clearly should be another rate hike in December, but it’s also clear that Powell & Co. have stopped following the data,” Antoni told the DCNF. “As inflation expectations soar — a gauge the Fed purportedly watches closely — they have sat on their hands. In the end, Powell is beholden to his political masters, not the numbers.”

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

See also  BJC Healthcare Eyes $10 Billion Union With Saint Luke’s Health System

elevated eyes Fed inflation meeting Remains Year
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Tampa Bay Rays Off to 12-0 Start to Season After Win Over Red Sox

April 13, 2023

Sri Lanka Reaches Debt Restructuring Deal With Bilateral Creditors, Including China and India

June 26, 2024

Most Wanted’ Attacks Texas Gov. Greg Abbott, Calls Busing Illegal Border Crossers to New York a ‘Publicity Stunt’

May 22, 2023

Asia Stocks Rise, Treasuries Dip in Cautious Trade: Markets Wrap

May 1, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

How John Durham Documented the Biggest Illegal Dirty Trick in U.S. History & Why No One Will Be Held Responsible | The Gateway Pundit

May 20, 2023

Prosecutors drop another charge against FTX’s Sam Bankman-Fried

July 27, 2023

Rep. Ted Lieu Enters Judge’s Finding That Trump Is A Rapist Into The Congressional Record

July 26, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.