Newsletter Nov 10, 2021

The U.S. economy may be on the slow road to recovery, but inflation is proving to be a pothole with the potential to grow into a major road block.
3 things you must know

  • Inflation pushes wholesale prices to highest level on record

    They say records are meant to be broken (or in this case, tied), but not all records are desirable ones. Such is the case for the Federal Reserve's report that year-to-year wholesale prices in October tied the highest level ever recorded more than one decade ago at 8.6%.

    The PPI report comes after the Fed announced its plans to start tapering its stimulus strategy this month. It appears inflation may force the central bank to take more aggressive actions to get it under control, but the Fed has indicated rate hikes are at least a year away.

    Investors are bracing for more bad news on the inflation front today with the release of the CPI, which will show how U.S. consumers have been affected by inflation. Now that the employment picture and other factors are showing signs of improvement, inflation is the biggest threat to the economic recovery next to supply chain issues.

    FIND OUT WHAT THE FED MAY DO TO CONTROL INFLATION

  • American household debt rises to record total of $15 trillion 

    Economist are constantly monitoring data for indications that things are starting to return to a pre-pandemic normal. One not-so-positive sign that Americans are back to their borrowing ways? The average household debt reached record levels and tallied over $15 trillion.

    The Fed reported that household debt rose by $286 billion in the third quarter of 2021, and increase of 6.2% from last year when stimulus checks were burning holes in citizens' pockets. It seems Americans are using their credit cards to pull through the pandemic.

    SEE THE ROLE INFLATION HAS PLAYED IN AMERICANS' DEBT

  • Infrastructure bill providing instant relief to nation's ports

    It didn't take long for the new $1.2 trillion infrastructure bill to be put to use. The Biden administration authorized immediate funding to flow to America's overwhelmed ports on Tuesday to provide some much-needed relief to the supply chain issues gripping the nation.

    Although President Biden has yet to sign the bill that was passed last weekend to upgrade roads, bridges, airports and railways, sea ports were authorized to use funds for other projects to meet the urgent demand, and $4 billion more is on the way in the months to come.

    SEE IF SUPPLY CHAINS WILL IMPROVE BY THE HOLIDAYS
Markets
DJIA 36,319.98 -0.31%
S&P 500 4,685.25 -0.35%
Nasdaq Composite 15,886.54 -0.60%
Japan: Nikkei 225 29,197.00 -0.30%
UK: FTSE 100 7,274.04 -0.36%
Crude Oil Futures 84.23 0.10%
Gold Futures 1,829.40 -0.08%
Yen 112.88 0.00%
Euro 1.16 -0.09%
* As of market close
GOP feeling the heat from Jan. 6 Committee

While Democrats can't seem to get out of their own way in an internal debate over their social spending bill, Republicans are starting to take sides over another battle on Capitol Hill -- the riot on Jan. 6. Investigators are turning up the heat on those who had a hand in trying to overturn the 2020 presidential election results, and GOP members are at odds over it.

The case saw several developments Tuesday that don't look good for Trump allies. A federal judge ruled against Trump's executive privilege assertion to withhold documents detailing his actions on Jan. 6, 13 members of Trump's inner-circle were found in violation of the Hatch Act, and more Trump associates are fighting subpoenas to testify to Congress.

FIND OUT WHY THE JUDGE RULED AGAINST TRUMP'S REQUEST

Did Biden break methane emissions policy?

In what is being called the "fart heard 'round the world," President Joe Biden stands accused of, shall we say, cutting the cheese in front of British royalty. According to multiple reports, Biden released a "long and loud fart" in front of the Duchess of Cornwall that still has her aghast. 

As the airy tale goes, Biden was attending a swanky affair at the COP26 summit in Glasgow (the same place where he announced a reduction in methane emissions) when he let one rip in front of Camilla. She was so struck by the break in decorum that she is airing out Biden's dirty laundry.

HEAR THE DUCHESS' DESCRIBE HER FLATULENCE ENCOUNTER

There are 8 money types; which one are you?

You've heard people claim to be either good or bad at money, as if saving and spending are acquired traits. While that may be the case for high-stakes investors and gamblers, for most consumers it's an extension of their personalities and as much of a part of who they are as their DNA.

With this in mind, there are eight money types that define how we save, spend and investor our money -- or don't. While you may find yourself fitting into multiple categories at times depending on recent purchases or investments, everyone belongs to one group at their core. Identifying which one describes your money habits can help form your financial plan.

FIND OUT WHICH ONE OF THE 8 MONEY TYPES BEST FITS YOU

Marine milestone

The U.S. Marine Corps celebrates its 246th birthday today, making it one year older than the nation. Name the city and venue where it was formed.

Tuesday's answer: Krispy Kreme's IPO of $17 a share raised $500 million in July. That's a lot of dough(nuts), but far below the $2.7 billion valuation.
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