President-elect Donald Trump will reportedly name Howard Lutnick, the co-chair of his transition team, to the role of commerce secretary, according to multiple sources.
The October Consumer Price Index (CPI) report shows a 0.2% monthly rise in inflation, with a 2.6% year-over-year increase, slightly above September’s 2.4% rate.
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
The award of Nobel prizes in chemistry and physics to a small number of AI pioneers affiliated with Google has stirred debate over the company’s research dominance.
Mike Pyle, the former economic advisor to President Joe Biden, will be returning to the controversial multi-trillion dollar investment company BlackRock.
U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction.
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
CPI Data Is Out: Inflation rose 2.9% over the past year, signaling that price increases are slowing down.
Global stocks held steady and government bond yields retreated a touch on Wednesday after data showed U.S. consumer prices rose moderately in July.