The SPDR S&P 500 (NYSE: SPY) is on the rise Thursday morning after the Bureau of Economic Analysis reported a 6% increase in the personal consumption expenditures price index in October.
As the Federal Reserve continues to grapple with historically high inflation, new data shows that wage growth may finally be headed lower after accelerating for nearly two years.
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Wharton Professor of Finance Jeremy Siegel is anticipating a 0.50% rate hike from the Federal Reserve next month, but anything further and a recession is all but gu