Welcome back tonight. We are talking about cooling costs across the nation and how they could impact more than just prices at the register. And luckily we brought in our expert Peter Shaw joins us now, Professor Emeritus of Business Administration at Tidewater Community College. Peter. Great to have you with us tonight. Good, glad to be here. So, let's talk about the consumer price index report. The most recent numbers that we got. We learned inflation is actually at its lowest level in three years. Just how close is it to where it needs to be though. Well, if the target the fed wants Federal Reserve wants is 2%. So they're within a half a point and I believe they're gonna get there by no later than early 2025. So we're very close. They're close enough now where the feds can start cutting the rates because they, they can see light at the end of the tunnel and they're gonna do it incrementally. Uh My guess is you're gonna see minimum 225 point cuts, two quarter point cuts uh between now and the end of the year. Uh optimistically, it would be, be three, but I think it's probably gonna be two going into 2025. You're gonna see several more incremental cuts probably by next June bringing it way down. I do believe they're gonna pause right now. Their interest rates at 5.5%. Ok. When they get to 3% I think they're gonna pause. So we know the feds very data dependent and they have their meeting next week, they're gonna announce, you know, what, what rate cut we're expecting. You mentioned, you're thinking 25 as opposed to 50. But what exactly does that mean for everyday Virginians? How will they be impacted by that decision next week? It'll be a signal to them. There's help on the way it will have a major financial impact to them immediately. Not really. I mean, if you've got, you know, whatever your interest rates you're paying now, they're probably gonna come down a quarter point, but they know it's gonna be consistent and probably well into 2025 they're gonna see consistent cuts, which is gonna be a relief. And also we want to start seeing the mortgage rates come down in October. It was last October, it was 7.8% as of yesterday, 6.2. So it's come down a whole lot. I am convinced once they get it down and break the 5% barrier, you're gonna see a massive shift of people putting their houses on the market because their mortgages is in that 4 to 5% range, majority of them they can afford to come off the sidelines. Um, so the buyers will have a double deal. First deal will be decreased in um, mortgage rates. Second thing is with that flood of houses on the market, you're going to see prices come down. So it's gonna be, it's a domino effect and you are gonna learn a lot more next week with the Feds decision. So, Peter, thank you so much for coming on tonight. My pleasure. All right, Dana.