U.S. producer prices rose 0.2% in October, driven by higher service costs like portfolio management and airline fares. Food and gasoline prices declined, with eggs seeing a sharp drop. Wholesale goods prices showed a slight recovery after a previous decline in September. Fed Chair Jerome Powell suggested a slower pace of rate cuts may be appropriate if economic data supports it. While some economists expect a December rate cut, others see the cycle potentially being less aggressive due to resilient economic activity and persistent inflation.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:03U.S. producer prices rose 0.2 percent in October, driven by higher service costs
00:07like portfolio management and airline fares. Food and gasoline prices declined,
00:12with eggs seeing a sharp drop. Wholesale good prices showed a slight recovery
00:16after a previous decline in September. Fed Chair Jerome Powell suggested a slower pace of rate
00:22cuts may be appropriate if economic data supports it. While some economists expect a December rate
00:27cut, others see the cycle potentially being less aggressive due to resilient economic activity
00:32and persistent inflation. For all things money, visit Benzinga.com slash GSTV.