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.
Delta Airlines today reported third-quarter profits that beat expectations, boosting its full-year growth outlook, as the carrier earnings increased about 60% to $1.1 billion.
Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year's historic boost and reflecting moderating consumer prices.
Design and lifestyle company Apartment Therapy has brought back its annual Small/Cool NYC exhibit to showcase some of the biggest interior design trends. Maxwell Ryan, founder of Apartment Therapy, joined Cheddar News to show some of the designs the company has come up with as well as some unique choices for living spaces of any size.
