White House, October jobs and inflation data
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The results for October (and November) will not increase inflation worries at the Fed. Headline CPI is estimated to stay steady at the 3 per cent September figure for both October and November. There are other modelled estimates of inflation which concur with the Cleveland Fed’s estimates.
Working professionals in the U.S. are taking on side jobs to supplement their income amid frozen salaries, inflation and fear of layoffs.
The rise in consumer prices is on track to exceed the central bank’s target until 2028. Cleveland Fed President Beth Hammack is trying to get that inflation rate down.
The acceleration of inflation last month was driven by a wide range of factors. Some, including housing costs, have been persistent drivers of price growth. But food and energy costs, which can be volatile month to month,
Federal Reserve Bank of St. Louis President Alberto Musalem said officials should move cautiously with further interest rate reductions with inflation running above the central bank’s 2% target.
Cleveland Federal Reserve President Beth Hammack said on Thursday monetary policy needs to remain in a position where it can help lower inflation pressures, suggesting she leans against the U.S. central bank cutting interest rates again in the near future.
Chancellor has been pushing cabinet ministers to find ways to reduce financial pressure on households ahead of Budget
India’s inflation rate fell to a record low in October, driven by a sharp drop in food prices, prompting economists to predict more aggressive interest rate cuts.
U.S. President Donald Trump and Japan's Prime Minister Sanae Takaichi are looking to placate angry electorates squeezed by cost-of-living issues.