Happy Friday! To end the week, we thought we'd share a "hodgepodge" of newsy items that came across our desk. Think of it as the financial equivalent of cleaning out your junk drawer—you never know what you'll find! Enjoy the beautiful fall weather (while our elected officials enjoy beautiful fall gridlock).
September Inflation Data
The Consumer Price Index (CPI) measure of inflation was released this morning at 8:30 AM EST and showed an increase of 0.09% from the August measure, marking the 5th consecutive month of rising inflation data. However, before you panic-buy canned goods, the September datapoint came in below consensus expectations—so we'll take our wins where we can get them.
Energy provided a bright spot, with energy commodities down 6.22% year-over-year and 0.37% from August to September. Translation: filling up your gas tank should hurt slightly less, which is especially welcome news for consumers who've been feeling the pinch.
Government Shutdown Continues
We are now in the longest full government shutdown in history (the previous record was 16 days in October 2013). Today reportedly marks the first missed payday for roughly 1.5 million civilian federal workers—which is about as fun as it sounds. Concerns about funding for WIC and SNAP programs are taking center stage, and there's talk this could extend into November or even through Thanksgiving.
Nothing says "pass the turkey" quite like a prolonged congressional standoff. Both Democrats and Republicans appear locked in a war of attrition, so we're hoping for a resolution sooner rather than later.
Updated Tax Brackets for 2026
In a rare display of productivity (shutdown or not), the IRS announced updated income tax brackets for 2026. The 10% and 12% brackets increased by 3.9%, while the remaining five brackets received a 2.3% bump. For married couples filing jointly, this means you'll stay in the 12% tax bracket on your first $100,800 of taxable income.
Other updates include:
- The SALT deduction (state and local taxes) increased by 1% to $40,400
- The standard deduction rose from $31,500 to $32,200 for married couples filing jointly
- The estate-tax exclusion jumped from $13.99 million to $15 million (because nothing says "planning ahead" like estate tax adjustments during a shutdown)
As always, please feel free to reach out with any questions, comments or concerns!
Gordon Asset Management, LLC