US seniors to get an 8.7% increase in their social security payments & next week’s FOMC

by Mason-Harder

In January, US seniors will get an 8.7% increase in their social security payments – the highest in more than 40 years. While I’m glad for them, it sounds inflationary to me. Do we think JPOW is thinking about this in advance of next week’s FOMC?

https://www.cnn.com/2022/10/13/business/money/social-security-cost-of-living-adjustment-cola-increase/index.html