Morning Brew Daily Inflation Needs to Chill & How Fake Parts Got In Airplanes
Oct 13, 2023
Inflation is shaking up markets, with a recent report showing a 3.7% rise due to housing costs. Tensions are high as the U.S. and Qatar work to prevent Iran from accessing $6 billion amidst scamming scandals. Fraudulent airplane parts pose serious safety risks, highlighting regulatory failures. Meanwhile, Delta Airlines navigates industry strikes, and TikTok faces a legal battle in Montana. Plus, a fascinating look at cutting-edge tech and citizen science revealing ancient texts from the Vesuvius eruption.
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Inflation Remains Sticky
- Inflation remains high at 3.7%, exceeding the Federal Reserve's 2% target.
- Housing costs, especially rent, are the primary inflation driver, impacting mortgage rates.
Corporate Price Hikes
- Several corporations, including Chipotle, Netflix, Disney, and Pepsi, have raised prices.
- These price hikes reflect real-world inflation and contribute to its persistence.
Iran Funds Blocked
- Following the Hamas attack, the US and Qatar blocked Iran from accessing $6 billion in frozen funds.
- The Biden administration faced pressure to block the funds due to Iran's support of Hamas.