Economists Expect US Growth Announced For Third Quarter
Democratic Party retains control of Congress. Inflation has become a signature issue for Republican attacks on the Democrats' stewardship of the economy.
Higher borrowing costs have already hammered the home market. The average rate on a 30-year fixed-rate mortgage, just 3.09% a year ago, is approaching 7%. Sales of existing homes have fallen for eight straight months. Construction of new homes is down nearly 8% from a year ago. Inflation rose 0.1% in August even with a sharp drop in gas prices, according to the consumer price index report released Tuesday. While it doesn’t sound like much, inflation trickles down into our daily lives. Lori Bettinger, the president of Bancalliance and former director of TARP, joins LX News to discuss how exactly this increase in inflation impacts your daily spending.
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