The Federal Reserve is meeting this week to decide on its latest interest rate hike, and one of the big questions going into the meeting is how the nation's top bankers are thinking about inflation.
The latest numbers from the personal consumption expenditure (PCE) index, which is the Fed's preferred measure, show prices increasing 0.1 percent month-over-month in December.
This compares to the latest consumer price index, which showed prices falling 0.1 percent.
Excluding volatile energy and food prices, the PCE measure is up at a slightly higher rate of 0.3 percent — though the index overall is at a 15-month low.
"It all adds up to a real break for consumers, real breathing room for families, and more proof that my economic plan is working," said President Joe Biden earlier this month.
Yet whether or not the recent price moderation is enough for the Fed to go ahead with a 25-basis-point rate hike as expected won't be clear until the FOMC meeting on Wednesday.
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As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
A Dutch recruitment firm found that only 42% of employees who have been laid off this year actually received severance, down from 64% who received severance in 2021.
Direct deposit delays due to a human error that happened last week have resulted in some customers still not receiving their paychecks.
Nestle is reportedly investing $100 million in food delivery startup Wonder Group.
