Here's why inflation may look like it's easing but is still a huge problem

Fed has an important interest rate decision to make at its Nov. 6-7 policy meeting.

The high price of goods and services across the U.S. economy continues to pose a burden for individuals, businesses and policymakers.

So far, rising debt hasn't proved to be a major problem, but it's getting there. The current debt delinquency rate is at 2.74% , the highest in nearly 12 years .

Consumer spending is up 19% from when inflation started spiking in Q1 of 2021 .

Consumer debt is up $3.25 trillion , the biggest increase since Q3 of 2022 .

Retail sales increased a larger-than-expected 0.4% in September , but year-over-year spending increased just 1.7% .

The Fed has an important decision to make at its Nov. 6-7 policy meeting.

That leaves folks like the young man who Daly , the San Francisco Fed president, encountered uneasy about the future and hinting whether the Fed perhaps is making a policy mistake. "I think we can move towards [a world] where people have time to catch up and then get ahead," Daly said during her talk in New York . "That is, I told the young father on the sidewalk, my version of victory, and that's when I will consider the job done.".