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Them. ainsley: thank you issue peter. if you go on kevin mccarthy website, he s talking the president was in milwaukee yesterday touting how wonderful this is for the economy and said gas prices have gone up 40 cents in one month in milwaukee. they are $3.74 yesterday. gone up 30 cents nationwide, average monthly mortgage payment is higher than a year ago and bidenomics is costing the american family extra $709 compared to two years ago, he calls it a total failure, brian. brian: right. the president talks about e employment rate. the other big story, we don t have enough workers to fill jobs that are open, which you might think immigration is the sweet spot if he were able to do that in holistic day. ....
On. gasoline prices appear to be creeping back up. $3.52 a gallon on average a month ago. $3.74 a week ago. $3.83 is the current average. what does that tell you during this major summer travel season, mitch? last week i think it was over the weekend opec announced they would cut back production and i immediately jumped on twitter and said, here we go. certainly the oil exists on the planet, is just a matter of getting it out of the ground and getting it in the form of gasoline. it is certainly inflationary. it is something that everybody feels. inflation slowing down to 3% for consumers, that is not the case when they are paying $0.50 more at the pump. it may be another $0.50 after that if opec continues to cut production. downgrading from aaa to aa. why does that matter, mitch? ....
Taking home more money. wages are now outpacing inflation, meaning a consumer has more buying power and they re using it. average wages are up 4.4% compared to last year. paychecks are stretching further. hourly rages are also on the rise. americans are now making an average of $33.74 an hour. the stock market is strong. stocks have blown past investors expectations for 2023. the s&p 500 is enjoying one of its best years since 1927. the federal reserve has set to meet next month for another interest rate hike. the judge lobs report could be taking some heat off the fed and lowering the chances for that recession that s feared. the fed says it does not expect a recession. after the, break we don t think you can make a difference in this country, keep watching, we re taking a look at the civil servants, journalists, lawmakers are held the line against trump s plan to overturn the 2020 election. michigan secretary of state, jocelyn benson, joins me next. benson, joins me next. ....
Percentage point. if the fed does raise interest rates, this would be the tenth consecutive increase. ben, this would be the fastest series of rate increases in four decades. we know americans are already really feeling these rate increases according to bank rate five-year car loans have nearly doubled. the current apr for credit cards is now over 20%. interest rates for student loans have climbed from 3.74% to nearly 5% in just the last year. could these rates hold or could the fed ultimately be forced to start peeling them back later this year? yeah, it s a very tough call for them today. consensus is that they ll do another quarter point hike. they re in a danger zone hear, particularly because as you say, higher rates are consumers on autos, and mortgages and everything else. in addition to the higher prices they re paying due to inflation. the real concern to me is these ....
A four decade high of 11.1%. wall street stock index futures up here. they ended the day higher. the s&p climbed to the highest level in two months. slower u.s. producer price gains in october hinting inflation is beginning to ease here. october retail sales data due later this morning. target will release quarterly earnings. walmart and home depot better than expected. gas prices sitting at $3.74 a gallon. let s bring in a retail ecommerce analyst. so nice to see you, claire. thanks for getting up early for us. inflation still blazing in the u.k. showing signs of peaking in the u.s. will that help consumers? absolutely. starting to see that inflation number come down in the most recent report and we are seeing indicators that inflation is continuing to drop based on some of the consumer behaviors relevant to inflation. seeing a little bit less sticker shock from consumers. ....