Ep. 46 - PCE Breakdown: Rising Prices and Shrinking Wallets
Report cards are in! How are we doing on the inflation front? Today, we're diving into the latest PCE readings to gauge what’s happening with the economy. Despite efforts to slow it down by raising interest rates, prices are still rising, causing consumers to make tough choices. Some companies are even taking advantage of the inflation trend to raise prices. It’s time to explore what could positively impact inflation and discuss the Fed's movements for the future. In this uncertain time, we emphasize the importance of focusing on personal finance and growing skills and knowledge to improve our financial situation.
So dive in, and let’s see why prices are rising, why wallets are shrinking, and what we can do with that information!
[00:01 - 06:39] What is happening with inflation based on the new PCE reading?
[06:40 - 12:59] Consumer prices continue to rise despite the Fed's efforts, impacting everyday purchases
[13:00 - 18:28] Understanding PCE and CPI readings to uncover Impacts on everyday spending
[18:29 - 23:43] The manipulation of data and numbers in inflation reporting is raising concerns for skeptical investors
[23:44 - 30:19] The Fed predicts the end of rate hikes as global currency competition looms
[30:20 - 36:53] How to navigate a world of rising prices—focus on growing skills and talent
Quotes:
"We're seeing like 43% increases on foods across the country. And that is all being escalated to your point by a lack of; we don't have enough workers. So therefore, product isn't being made in abundance." - Quinton Harris
"Look, we can report on the numbers as they come out, but at the end of the day, we have to be somewhat skeptical and at least look at this with a critical eye of can [The Fed] actually measure what they're trying to measure?" - Quinton Harris
“You can only control what you can control… Focus on yourself.” - Alex Stewart
"Focus on growing your talent and your skills and your knowledge, because then you can command these higher prices in the market and improve your life." - Quinton Harris
Resources Mentioned:
You can now catch us on Spotify and watch our full video episodes, join in on Q&As, and participate in polls!
Do you want to grow your wealth and leadership? Connect with us on Facebook, Twitter, and Instagram. Be sure to subscribe to us on YouTube to enjoy highlights and full video episodes.
Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/.
Be sure to Subscribe, Share, and Leave a Review to let us know you want to keep the content coming.
