KukriKhan wisely chooses beer as a reference for spending power comparisons.

Another comparison: In my area, $3.10 will buy you 1 US Gallon (3.785 Liters) of gasoline, or $0.82 a Liter.

IANAE, but I'm leery of the Fed lowering rates any more than they already have. They may as well be printing money. As a country, we need to suck it up and deal with the recession coming, not making it worse by piling inflation on top of it.