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This is why we fight. i m adam schiff, and i approve this message. quite more americans buckling under the weight of mounting credit card debt. there is a new report showing credit card delinquency is have surpassed pre-pandemic levels. these rising delinquencies are coming at a time when debt is especially painfully expensive. interest rates are the highest they have ever been in two decades. vanessa joins us now, what is behind the delinquency is? excesses concerning, but not altogether surprising, because we know consumers have been spending very robustly and they have been putting that spending on credit cards, but in the ....
From the federal reserve. that trickles down into what people are paying for their car loans, for their student loans and on credit cards. it s important for people to realize when we talk about inflation cooling, we re not talking about cheaper prices. we re not going to see the prices we saw in 2019. however, cooling inflation means prices are rising slower. that is good news. we are headed in the right direction. we ll be bumpy. that 2% target in sight right now. good to see you, vanessa. thank you so much. coming up, today s news sending shock waves across the sports world, at least the nfl. the head coach of the new england patriots, bill belichick stepping down after 24 years. more on this news from our chief patriots correspondent john berman, when we return. ....
Interiin interiin interjected. back to you, kate. the final inflation numbers are out for 2023, showing consume confidence closed out the year for a 4.3% increase. what does that mean for the roller coaster that was the 2023 economy? this final report tells us what, vanessa? that s we ve had a bumpy road. inflation up 3.4% in the past four months and up about .3% in december. that was higher than analysts were projecting. look where we came from. we came from inflation at 9.1% in june of 2022 and in december of last of 2022 it was 6.5%. it s like if you set a weight loss goal and you want to lose ....
The consumer price index rose 3.4% for the year, nearly cut in half, compared to 2022. real wages also grew in 2022 for the first time in years. vanessa, what does this final report tell us? it tells us that there is going to be a little bit of a bumpy road to the finish line. we are saying that last year, prices rose 3.4%, and in december, we saw prices rise, a little hotter than what analysts were predicting, but not alarming. it is sort of like if you are trying to lose weight, the fed has set a target goal, people set target weight spritz the first few pounds it may come off easily, but it is the last little bit that can be tough, and that s exactly where we are right now. but we have come down dramatically from the high inflation we saw in the summer of 2022. you can see about 9.1% could then december 2022, we were at ....
Prices coming down pretty dramatically over the last year and a half. and i think the big question is what is the fed in all of this? analysts have predicted we could see the fed start to cut rates in march of this year. this report might change things a little bit. there might be more of a pause in march as opposed to a cut, but we are clearly on the road to recovery, to that 2% target, but we do have a ways to go. people still feeling the pain of higher prices, but the fight continues and moving in the right direction, guys. the fight continues, vanessa, thank you so much. we have heard about the way that tell us that can impact the economy is in major cities when she comes to town, now she is being asked to use her influence of her political elections. we will explain. [ music ] ....