Mike Tyson unveils new website to help combat inflation

Group 1: Federal Reserve and Inflation - Kansas City Fed President Jeff Schmid dissented against a quarter-point interest rate cut due to concerns over high inflation, which he believes could be exacerbated by cheaper borrowing costs [1] - Consumer prices increased by 3% in September on an annualized basis, remaining above the Federal Reserve's target of 2% [2] Group 2: Chuching Platform and Price Competition - Former heavyweight boxing champion Mike Tyson is collaborating with a website called Chuching, which allows merchants to compete for the best prices, returning a portion of the price to consumers [3][4] - The platform aims to address inflation by providing consumers with access to the best prices across various merchants, highlighting significant price discrepancies for the same products [10][22] - Chuching currently has 25,000 merchants competing in the North American e-commerce market, covering over 99% of it [15] Group 3: Consumer Empowerment and Pricing Transparency - The Chuching platform enables consumers to make informed decisions by displaying a pricing table for every seller of a product, allowing them to choose based on trust, shipping costs, and other factors [22] - The platform's competitive process allows merchants to offer the best possible prices in real-time, which can lead to substantial savings for consumers [14][21]