We're getting a read on inflation heading into the holidays.
What does it say about the fed's next move? That's right to our
day.
So the preferred inflation gauge by the
Federal Reserve did meet expectations in October
indicating that the central bank may hold rates steady at its next meeting.
Well,
the core personal consumption expenditures index was up 2/10 of
a percent from September and 3.5% from a year earlier.
That's according to the Commerce Department,
consumer spending also rose 2/10 of a percent
on the month showing consumers keeping pace with inflation
while the central bank next meets mid December with
traders betting that the FED will keep rates steady.