June 12, 2023
There are two big things happening this week that have to do with your money.
I’m sure they’re going to be overshadowed by all this trump stuff but that doesn’t mean these aren’t important stories too.
The first thing that’s going to happen – tomorrow – we are going to get the inflation numbers for May from the Bureau of Labor Statistics. For those of you who know – it’s the Consumer Price Index report. In the last few months the CPI has shown a steady – but slow—decreased in inflation overall. We’ll have to see if that trend continues.
The other thing happening on Wednesday – the Federal Reserve will be announcing whether they will be raising interest rates again or perhaps put a pause on raising them this month. Of course, the inflation report that’s released on Tuesday will factor into The Fed’s decision. And it’s a dilemma – because the credit market is getting so tight with the previous rate hikes that it’s threatening financial instability in the market but at the same time, this inflation is well about the fed’s target 2% rate which would require more interest rate hikes. We’ll have to see what happens on Wednesday.
