Inflation rose in November at the fastest pace in four months, marking the second straight month of acceleration. The Department of Labor reported Wednesday that the consumer price index (CPI) increased by 2.7% over the past year, matching economists' forecasts. Core inflation, which excludes food and energy prices, climbed 3.3% year-over-year.
Contrasting views on U.S. immigration policy came into sharp focus on Tuesday during separate congressional hearings addressing the incoming Trump administration’s stance on deportations and border security.
During a Senate Judiciary Committee hearing on Tuesday, Republican Sen. Josh Hawley of Missouri confronted American Immigration Council senior fellow Aaron Reichlin-Melnick over the economic impact of illegal immigration on the American workforce.
As President-elect Donald Trump signals renewed efforts to enforce mass deportations, recipients of the Deferred Action for Childhood Arrivals (DACA) program remain uncertain about their future.
Despite a challenging year for Argentina and President Javier Milei, the payoff from his tough economic reforms is becoming evident. His popularity is rising domestically and earning recognition among conservatives globally.
The U.S. economy added 227,000 jobs in November, surpassing economists’ forecast of 215,000, the Department of Labor reported Friday. The unemployment rate edged up slightly to 4.2%, as more individuals entered the workforce.
All three major U.S. stock indexes closed at record highs on Wednesday, fueled by a strong rally in technology shares and encouraging comments from Federal Reserve Chair Jerome Powell. Salesforce’s positive earnings report and upbeat market sentiment contributed to the surge, while Powell’s remarks on the economy provided an additional boost.
President-elect Donald Trump has reaffirmed his opposition to the proposed $14.9 billion acquisition of U.S. Steel by Japanese company Nippon Steel. Trump pledged to block the deal, continuing the stance taken by the Biden administration earlier this year. He proposed stronger tariffs and tax incentives to reinvigorate the iconic steel company and prevent it from relocating its operations out of Pittsburgh.
The corruption trial of former Illinois House Speaker Michael Madigan continues to unfold with significant testimonies and evidence presented by federal prosecutors. Madigan, along with co-defendant Michael McClain, faces 23 counts of bribery, racketeering, and official misconduct tied to an alleged scheme referred to as the "Madigan Enterprise."
