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Apr 27, 2023

The economy is slowing, but inflation’s sticking around

Monetary policymakers’ fight against inflation has centered around hiking interest rates to cool off the economy, and today’s economic data shows just that — GDP growth slowed considerably last quarter. But core inflation, a measure of price rises among goods that aren’t as volatile, rose at the same time. We ask KPMG chief economist Diane Swonk what that means for the Fed’s inflation fight going forward. Plus, new studies show that popular melatonin gummies contained amounts of the hormone that differed significantly from what had been advertised. And, a look at Texas’s recent push to eliminate sales tax period products like tampons and pads.

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The economy is slowing, but inflation’s sticking around — Spencer Platt/Getty Images

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Segments From This Episode

Today's economic data is a bad sign for the Fed's inflation fight
Diane Swonk, chief economist at KPMG, explains why today’s GDP and core inflation data could signal further Fed rate hikes.
There’s a reason to lose sleep over mislabeled melatonin gummies
by Savannah Peters
Joe Raedle/Getty Images
A new study in the Journal of the American Medical Association looked at 25 melatonin gummies and found that some contained much more melatonin than advertised, or none at all.
Texas may be the next state to end the sales tax on period products
by Elizabeth Trovall
Elizabeth Trovall/Marketplace
Texas is poised to be the next state to eliminate the sales tax on tampons, pads and liners. It’s currently the most populous state taxing these products.