Inflation bites everyone

Welcome to The Money, where we break down financial news and provide the TL;DR version of how decisions by the Federal Reserve, government and companies impact you.

Inflation isn't just on the minds of adults. Teens are citing rising costs as a concern as they do their holiday shopping, according to a new survey.

Junior Achievement's annual JA Teens & Holiday Spending survey reveals that more than two thirds of teens or 70% are concerned about the impact of inflation on this year’s holiday shopping season . That is nearly the same as results from last year's survey response of 71%.

And guess what? More teens actually want to shop in-person, the survey says.

Can Trump control inflation?

Americans’ deep-seated frustration over inflation propelled Donald Trump to victory in the presidential race early this month.

But will Trump’s policies ease inflation? Or could they make it worse?

Here’s a look at inflation and where economic forecasters say it’s likely headed, and whether Trump realistically has a shot a lowering prices for Americans through his tax plans .

Tick-tock

Public sector workers are on tenterhooks , hoping sometime in the next six weeks the Senate will pass a bill to allow them to receive Social Security benefits they feel they’re entitled to.

Last week, a bipartisan majority of the U.S. House passed the?Social Security Fairness Act to eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) , which reduce Social Security benefits for certain retirees who also receive pension income. The bill now awaits a Senate vote for a chance to become law, but only has until Dec. 31 before it dies.

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