Intro

This Halloween, we’re looking at some new inflation data that’s got the Federal Reserve in good spirits. Its preferred inflation measure shows inflation fell to 2.1% last month, moving ever-so-closer to the Fed’s 2% target. We’ll get into why core inflation complicates the Fed’s good news. And, we’ll unpack why some Meta investors were spooked when CEO Mark Zuckerberg said the company will amp up its artificial intelligence spending. Plus, Starbucks is getting a brand makeover, and the Los Angeles Dodgers pulled off a World Series win.

Here’s everything we talked about today:

• “Meta posts Q3 earnings beat, but stock falls on heavy spending plans” from Yahoo Finance
• “What Today’s Inflation Data Will Mean for Next Week’s Fed Meeting” from CNBC
• “Inflation Cooled Further in September, PCE Index Shows” from The New York Times
• “7 ways Starbucks CEO Brian Niccol plans to change the coffee chain” from NBC Chicago
• “Los Angeles Dodgers defeat New York Yankees in five games to win World Series” from NBC News

Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.