Inflation data advances view of Federal Reserve interest-rate cuts
CBSN
Inflation rose at a temperate pace in July, cementing thoughts of interest-rate cuts by the Federal Reserve, according to economic data released on Friday.
Wall Street applauded the development, with stock futures added to their gains after the core personal consumption expenditures price index increased 0.2% from June. The tally, which excludes volatile food and energy prices, is up 2.6% from a year ago, according to the Bureau of Economic Analysis.
Adjusted for inflation, consumer spending advanced 0.4% last month, up from June.
Secretary of State Marco Rubio is expected to testify in federal court Tuesday in the ongoing criminal trial of former Florida Congressman David Rivera, who is accused of secretly lobbying for the Venezuelan government during the first Trump administration.
A U.S. Park Police officer was seriously wounded Monday evening in a shooting in Washington, law enforcement officials said.
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The Defense Department said Monday it will remove media outlets' office spaces from the Pentagon after a federal judge sided with The New York Times in a lawsuit challenging limits on reporters' access to the building. In:
Washington — The Senate confirmed Markwayne Mullin as secretary of the Department of Homeland Security on Monday, finalizing President Trump's shakeup of DHS following months of scrutiny of Kristi Noem's leadership.
A civil jury in California found Monday that Bill Cosby was liable for drugging and sexually assaulting a woman in 1972 and awarded her $19.25 million. In:
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House Republicans announced Monday that Congress will mount an investigation into "rampant hospice fraud," alleging that potentially tens of millions in taxpayer funds may have been lost in improper payments to Southern California companies. In:
Polymarket is moving to quash insider trading as prediction markets face scrutiny over whether some users draw on classified or other closely held information to gain an edge in betting on events. Edited by Alain Sherter In:
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Elon Musk, famously a man with big ideas, is building a semiconductor plant vast enough to power those ambitions. Edited by Alain Sherter In: