Stretching Your Dollar: Americans Say Cost of Living is More Expensive
Despite inflation tampering down, Americans continue to report rising costs of living. Patrick Stal, chief marketing officer at Zepz, parent company of WorldRemit, joined 'Stretching Your Dollar,' to talk about WorldRemit's 2023 Cost of Living survey. It found that more than 70 percent of people reported an increase in the daily cost of living while a third also reported a decrease in disposable income.
Updated October 9, 2023 at 11:45 a.m. to note the findings came from WorldRemit's 2023 Cost of Living survey.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
