The consumer price index likely surged again in October as inflation remains near a 40-year high, continuing to inflict financial pain on millions of Americans.
Northwestern Mutual Wealth Management Chief Investment Strategist Brent Schutte and Raymond James Washington Policy Analyst Ed Mills discuss which directions the market will go after midterm elections on 'The Claman Countdown.'
Economists expect the gauge, which measures a basket of goods, including gasoline, health care, groceries and rent, to show that prices rose 0.6% from the previous month — up from the 0.4% reading in September. On an annual basis,The report is likely to show underlying momentum in inflation as home and rent prices march higher. Core prices, which exclude the more volatile measurements of food and energy, are expected to climb 0.5% from the previous month and 6.5% from the same time last year.
Policymakers in October approved a fourth consecutive 75 basis point rate hike, lifting the federal funds rate to a range of 3.75% to 4% — well into restrictive levels — and indicated that more increases are coming.
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