The Fed’s measure of inflation was more than reported

The Fed’s preferred measure of inflation show prices actually rose more in August than previously reported as Wall Street ended September with another month of losses.
1:20 | 10/01/22

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Transcript for The Fed’s measure of inflation was more than reported
>> COLONEL, WE ALWAYS APPRECIATE YOUR TIME. THANK YOU. >>> WE TURN TO THE ECONOMY AND THE IMPACT YOURN BOTTOM LINE. THE FED'S PREFERRED LINE OF DEFENSE, SHOWED MORE THAN REPORTED. ABC'S BUSINESS AND ECONOMICS CORRESPONDENT DEIDRE BOLTON IS HERE. >> FRIDAY WAS THE LAST DAY OF THE MONTH AND THE DOW AND THE S&P 500 AT THE LOWEST LEVEL SINCE NOVEMBER 2020. PART OF THE REASON FOR THE NEGATIVITY, ON FRIDAY ONE OF THE FED'S FAVORITE INFLATION REPORTS SHOWED THAT FOOD, ENERGY, HOUSING PRICES FOR IT TOO HIGH TO STOP RAISING RATES. HIGHER RATES CAN HURT AMERICANS FOR BORROWING FOR MORTGAGES, CREDIT CARDS. THEY ARE DEALING WITH THE HIGHEST INFLATION SINCE THE EARLY '80s. THE FED WANTS TO BRING IT DOWN EVEN IF IT HURTS EMPLOYMENT. COMPANIES HAVE TO MANAGE HIGHER INFLATION, TOO. THEY'RE ALSO STILL DEALING WITH LEFTOVER PANDEMIC ISSUES SUCH AS SUPPLY CHAIN AND INVENTORY INEFFICIENCIES. NIKE REPORTING ITS INVENTORY LEVELS SOARED 65% IN NORTH AMERICA. NIKE SAYS IT HAS TOO MUCH CLOTHING IN STOCK. OTHER RETAILERS MAKING SIMILAR COMMENTS EARLIER THIS YEAR INCLUDING TARGET AND WALMART. THE SILVER LINING FOR CONSUMERS, THERE WILL BE MORE SAL

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