00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Inflation edged further from the Federal Reserve's target in November,
00:06but matched expectations, according to CNBC. The Commerce Department reported that the
00:10Personal Consumption Expenditures Price Index showed both headline and core inflation at 2.8%
00:16for the month, matching the Dow Jones consensus. The Bureau of Economic Analysis also reported
00:21October headline and core inflation at 2.7%. Monthly inflation rose 0.2% in both months.
00:29The BEA released both reports together following delays tied to a government shutdown.
00:34James McCann, senior economist for investment strategy at Edward Jones,
00:38said consumers continue to drive the U.S. economy, with data pointing to another strong gain in
00:43spending even as last year's labor market slowdown and elevated inflation weighed on real incomes.
00:49He said the data should reassure the Federal Reserve that the economy remains on solid footing
00:54as the labor market cools. For all things money, visit Benzinga.com.
00:59Florida State University State Support Coaching Department says the data
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