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Inflation has risen slightly, but what does that mean for us? Find out more later in this email.

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šŸ“ˆ Inflation Rises Slightly As 2.0% Goal Remains Elusive

The Federal Reserveā€™s two-part mandate includes protecting American jobs and limiting inflation (with a stated annual goal of 2.0%).

The organization went on an intense rate-hiking campaign after inflation reached 9.1%. But it fell to 2.4% in September, the lowest mark since January 2021.

To stimulate the economy and protect a weakening labor market, the Fed cut interest rates a combined 0.75% at its last two meetings.

Yesterday, the CPI number for October came in at 2.6%.

Economists and analysts have predicted that getting inflation to the stated goal of 2.0% will be a challenge. After the Fedā€™s initial strategic moves to hike rates, the 9.1% number melted down. But in the last 16 months, itā€™s now fallen just 0.4%.

Core inflation also rose to 3.3% in October. Still, it shouldnā€™t change the Fedā€™s short-term decision-making.

ā€œBefore the inflation report, futures markets implied there was about a 60% chance the Fed would cut rates at its meeting next month. After the report, that had risen to about 80%,ā€ the Wall Street Journal reported.

However, thereā€™s some concern that the Fed will need to switch from stimulating the economy to fighting inflation again. So the depth of the cuts some expected even just three months ago may not materialize.

Solid consumer spending, steady hiring and firmer inflation could slow the pace of cuts next year.

If interest rates remain high and inflation continues to hover a bit higher than 2.0%, the best thing you can do is to keep following Clarkā€™s age-old advice: save more and spend less. We try to provide you with tools and information every day to help you do that.

šŸ“Š Stat of the Day

šŸ“ŗļø 70 million: The number of ad-supported tier subscribers Netflix now claims. Thatā€™s up from 22 million in January and 40 million in May. Ad-tier subscribers make up more than 50% of new signups. Is the future of streaming full of ads?

šŸ’°ļø Deal Alert: Todayā€™s Top Deals
Macys
Apple AirTag deal
TV deals
šŸŽ™ļø Podcast

Walmart+ vs. Amazon Prime: Which is better? Clark is a member of both! He explains his money-saving shopping strategy and shares a deal on Walmart+ that you should consider. Also, life can be hard and weā€™re all going to have adversity. But positive thinking is more powerful than we may think!

ā˜Žļø Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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