A new report says that inflation in the United States moved slightly higher last month. The spike was fueled by higher costs for hotel rooms and groceries. Consumer prices rose 2.7% in November from last year. The inflation figures are the final major data piece officials from the Federal Reserve will consider before they meet next week to decide on interest rates. Research fellow on Monetary Policy and the Federal Reserve System at George Mason University, Patrick Horan, joins to put these numbers into context for us, and tell us why inflation remains high and where consumers are seeing and feeling it the most. As stated, the inflation numbers are the final piece before the Federal Reserve meets next week to decide on what to do with interest rates. Horan discusses what these findings signal to him and what it means to consumers. On another note, Horan explains how the economy has reacted to the return of President-elect Donald Trump to the White House and what he makes of some of his economic proposals.
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