
Inflation report:
- The recent CPI report showed no change in prices from September to October, indicating a flat month-over-month inflation rate and suggesting a slowdown in the acceleration of prices.
- Year-over-year inflation is at 3.2%, down from 9% last summer, reflecting a significant decrease in the acceleration of prices over time.
Food and energy prices:
- Food prices saw an increase of 0.3% for both food at home and away from home, highlighting ongoing challenges with rising food costs.
- Energy prices experienced a notable decline of minus 4.9% from September to October, signifying a substantial drop in energy expenses.
Impact on cost of living:
- Despite fluctuations in specific categories like food and energy, the overall trend indicates a gradual deceleration in the cost of living.
- While year-over-year inflation remains above the stated annual target of 2%, this decline from previous levels signals progress towards stabilizing price growth.
Shelter costs:
- There are concerns regarding shelter costs as they continue to rise, posing challenges for individuals seeking affordable housing options.
- Expectations around potential declines in rents may provide relief; however, persistent supply issues could limit favorable outcomes for prospective homeowners.
Supply chain pressure index:
- The New York Fed's global supply chain pressure index has significantly decreased below its 2019 levels, suggesting that past supply chain disruptions have largely subsided.
New York Fed's Global Supply Chain Pressure Index:
- The hosts discuss the impact of the New York Fed's global supply chain pressure index, which is significantly below 2019 levels. They note that it has been problematic, drawing attention to potential economic implications.
Federal Reserve's Handling of Economy and Inflation Concerns:
- The hosts express skepticism about the Federal Reserve's handling of the situation and its potential impact on the incumbent president in the White House.
- They delve into public sentiment towards Joe Biden's economic policies, highlighting polling data that indicates significant dissatisfaction among American voters regarding their financial well-being under his administration.
- The discussion explores how inflation plays a substantial role in shaping public perception of economic conditions, potentially impacting political sentiment and future elections.
Financial Blogger Fashion:
- A brief mention is made about showcasing the latest in financial blogger fashion at The Compound shop, emphasizing an indirect reference to style or merchandise related to financial blogging within the podcast episode.
Economic Impact on Public Sentiment:
- There is a discussion about potential concerns regarding the Federal Reserve's management of the economy, particularly around inflation.