WASHINGTON - U.S. producer prices increased by the most in six months in October, lifted by gains in the costs of goods and services, further bolstering the Federal Reserve’s stance that it will probably not cut interest rates again in the near term.
The U.S. central bank last month cut rates for the third time this year and signaled a pause in the easing cycle that started in July when it reduced borrowing costs for the first time since 2008. Fed Chair Jerome Powell reiterated that stance in testimony before lawmakers on Wednesday. The data came on the heels of a report on Wednesday showing a strong rise in consumer prices in October amid large gains in healthcare costs and prices of used cars and trucks.
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 225,000 for the week ended Nov. 9, the highest reading since June 22, the Labor Department said. Some of the states, including California, Pennsylvania and Virginia, did not have enough time to process the claims data because of Monday’s Veterans Day holiday, leading to them making estimates.
My father's care this year before he died, almost $1M. My BF's cancer treatment this year will easily surpass that. That's just TWO people in this country. Myself, I haven't even been able to get to my Dr this year, with wait times of 3-4 weeks, before I have to leave town again.
My health insurance is going up $100 a month on Jan. 1...
ImpeachAndRemove before the bottom falls out.
thats great for a great nation👍
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »