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US inflation ticked up last month as some price pressures remain persistent
Court Watch |
2024/12/08 10:12
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Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated.
Consumer prices rose 2.7% in November from a year earlier, up from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April. Core prices also rose 0.3% for a fourth straight month.
Wednesday’s inflation figures from the Labor Department are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates. The relatively mild November increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point. The probability of a rate cut next week, as envisioned by Wall Street traders, rose to 98% after Wednesday’s inflation report was released, according to futures pricing tracked by CME FedWatch.
“It’s generally in the ballpark of what the Fed would like to see,” said Jason Pride, chief investment strategist at Glenmede, a wealth management firm. Though sharp increases for such items as groceries and hotel rooms increased overall inflation last month, those categories are often volatile. Pride noted that the cost of services, such as rents, car insurance, and airline fares, cooled in November.
Last week, Fed Chair Jerome Powell suggested that with the economy generally healthy, the Fed could reduce its key rate slowly.
“We’re not quite there on inflation, but we’re making progress,” Powell said. “We can afford to be a little more cautious.”
With the job market cooling, growth in Americans’ paychecks has slowed from a nearly 6% annual pace in 2022 to about 4% now, a rate nearly consistent with inflation at the Fed’s 2% target. Powell has said he doesn’t think the current job market is a driver of higher prices.
Randy Carr, CEO of World Emblem, a maker of patches, labels and badges for companies, universities and law enforcement agencies, said he is providing smaller wage increases, in the 3% to 5% range, than his company did during the height of inflation.
“Things have kind of leveled off,” he said.
Carr’s customers, which include the company that makes emblems for UPS uniforms, generally won’t accept price hikes much more than 2% a year. So World Emblem aims to offset the cost of its higher wages through greater efficiencies in manufacturing.
In September, the Fed slashed its benchmark rate, which affects many consumer and business loans, by a sizable half-point. It followed that move with a quarter-point rate cut in November. Those cuts lowered the central bank’s key rate to 4.6%, down from a four-decade high of 5.3%.
Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source of public discontent that helped drive President-elect Donald Trump’s victory over Vice President Kamala Harris in November.
Grocery prices jumped last month, an uncomfortable reminder for consumers that food prices remain a big drag on households’ budgets. Beef prices leapt 3.1% just from October to November and are up 5% from a year earlier.
Egg prices, which have been volatile for more than two years, in part because of outbreaks of bird flu, soared 8.2% just last month. They are nearly 38% higher than a year ago.
Gas prices ticked up 0.6% from October to November, ending a string of declines. Still, gas is down more than 8% from a year earlier. Hotel prices leapt 3.2% from October to November and are 3.7% higher than a year ago.
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Court seems reluctant to block state bans on medical treatments for minors
Court News |
2024/12/04 12:05
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Hearing a high-profile culture-war clash, a majority of the Supreme Court seemed reluctant Wednesday to block Tennessee’s ban on gender-affirming care for minors.
The justices’ decision, not expected for several months, could affect similar laws enacted by another 25 states and a range of other efforts to regulate the lives of transgender people, including which sports competitions they can join and which bathrooms they can use.
The case is coming before a conservative-dominated court after a presidential election in which Donald Trump and his allies promised to roll back protections for transgender people.
In arguments that passed the two-hour mark Wednesday, five conservative justices voiced varying degrees of skepticism of arguments made by the Biden administration and lawyers for Tennessee families challenging the ban.
Chief Justice John Roberts, who voted in the majority in a 2020 case in favor of transgender rights, questioned whether judges, rather than lawmakers, should be weighing in on a question of regulating medical procedures, an area usually left to the states.
”The Constitution leaves that question to the people’s representatives, rather than to nine people, none of whom is a doctor,” Roberts said in an exchange with ACLU lawyer Chase Strangio.
The court’s three liberal justices seem firmly on the side of the challengers. But it’s not clear that any of the court’s six conservatives will go along. Justice Neil Gorsuch, who wrote the majority opinion in 2020, has yet to say anything.
Four years ago, the court ruled in favor of Aimee Stephens, who was fired by a Michigan funeral home after she informed its owner that she was a transgender woman. The court held that transgender people, as well as gay and lesbian people, are protected by a landmark federal civil rights law that prohibits sex discrimination in the workplace.
The Biden administration and the families and health care providers who challenged the Tennessee law are urging the justices to apply the same sort of analysis that the majority, made up of liberal and conservative justices, embraced in the case four years ago when it found that “sex plays an unmistakable role” in employers’ decisions to punish transgender people for traits and behavior they otherwise tolerate.
The issue in the Tennessee case is whether the law violates the equal protection clause of the 14th Amendment, which requires the government to treat similarly situated people the same.
Tennessee’s law bans puberty blockers and hormone treatments for transgender minors, but not “across the board,” lawyers for the families wrote in their Supreme Court brief. The lead lawyer, Chase Strangio of the American Civil Liberties Union, is the first openly transgender person to argue in front of the justices. |
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More than 3,000 fake Gibson guitars seized at Los Angeles port
Legal Interview |
2024/12/01 12:06
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More than 3,000 fake Gibson electric guitars shipped from Asia were seized by U.S. Customs and Border Protection agents at the Los Angeles-Long Beach Seaport, authorities said.
Had the guitars been authentic, they would have been worth $18 million, U.S. Customs and Border Protection said in a statement. The agency said Gibson confirmed the guitars that were intercepted were counterfeit.
Gibson, founded in 1894 and based in Nashville, Tennessee, has the top market share in premium electric guitars and all its guitars are handcrafted in Nashville and Bozeman, Montana.
“These fraudulent guitars may look and feel legitimate for unsuspecting consumers buying them from third party online sources, street markets, unauthorized retailers, and person-to-person transactions,” said Cheryl M. Davies, CBP director of field operations in Los Angeles. “As we approach the busy Holiday shopping season, consumers should pay attention on where they are buying these goods and how much they are paying, and if is too good to be true it probably is.”
Gibson guitars have been such a fixture in music history that rock-and-roll visionary Chuck Berry was laid to rest with his instrument, blues musician B.B. King affectionately named his “Lucille,” and rock guitarist Eric Clapton borrowed one from George Harrison to play the solo on the Beatles’ song “While My Guitar Gently Weeps.”
“This is really emotional and personal for us not only because of the protection of our players, but because of our Gibson team at large, including the artisans at our craftories in Nashville, TN and Bozeman, MT, who are generations of American families that have dedicated their entire lives to handcrafting Gibson instruments,” Beth Heidt, chief marketing officer at Gibson, said in a statement.
Authorities announced the seizure Tuesday but didn’t say when the guitars were taken, which country they came from, or who made them.
The investigation involving the U.S. Customs and Border Protection, Homeland Security and the Los Angeles County Sheriff’s Department is ongoing.
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Romanian court orders a recount of presidential election first round
Legal Interview |
2024/11/28 11:22
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A top Romanian court on Thursday asked the official electoral authority to recount and verify all of the ballots cast in the first round of the presidential election, which was won by a far-right outsider candidate, sending shockwaves through the political establishment.
The Constitutional Court in Bucharest approved the recounting of the more than 9.4 million ballots, and said its decision was final. The Central Election Bureau is expected to meet on Thursday afternoon to discuss the request.
Calin Georgescu, a little-known, far-right populist and independent candidate, won the first round, beating the incumbent prime minister. Georgescu was due to face reformist Elena Lasconi, the leader of the Save Romania Union party, in a Dec. 8. runoff.
Georgescu’s unexpected success has prompted nightly protests by people concerned with previous remarks he made in praising Romanian fascist and nationalist leaders and Russian President Vladimir Putin, and believe he poses a threat to democracy.
Without naming Georgescu, Romanian President Klaus Iohannis’ office said following a Supreme Council of National Defense meeting in Bucharest on Thursday that an analysis of documents revealed that “a presidential candidate benefited from massive exposure due to preferential treatment granted by the TikTok platform.”
Earlier this week, Romania’s National Audiovisual Council asked the European Commission to investigate TikTok’s role in the Nov. 24 vote. Pavel Popescu, the vice president of Romania’s media regulator Ancom, said he would request TikTok’s suspension in Romania if investigations find evidence of “manipulation of the electoral process.”
The vote recount was prompted by a complaint made by Cristian Terhes, a former presidential candidate of the Romanian National Conservative Party who garnered 1% of the vote. Terhes alleged that Lasconi’s party had urged people to vote before some diaspora polls had closed on Sunday, saying it violated electoral laws against campaign activities on polling day.
After Thursday’s court ruling, Terhes’ press office posted on Facebook that the court ordered the recount “due to indications of fraud,” and alleged that valid votes cast for Ludovic Orban — who had dropped out of the race but remained on the ballot — had been reassigned to Lasconi.
It is the first time in Romania’s 35-year post-communist history that the country’s most powerful party, the Social Democratic Party, did not have a candidate in the second round of a presidential race. Prime Minister Marcel Ciolacu resigned as party leader after he narrowly lost to Lasconi by just 2,740 votes. |
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Court backs Texas over razor wire installed on US-Mexico border
Court Watch |
2024/11/25 11:22
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A federal appeals court Wednesday ruled that Border Patrol agents cannot cut razor wire that Texas installed on the U.S.-Mexico border in the town of Eagle Pass, which has become the center of the state’s aggressive measures to curb migrant crossings.
The decision by the 5th U.S. Circuit Court of Appeals is a victory for Texas in a long-running rift over immigration policy with the Biden administration, which has also sought to remove floating barriers installed on the Rio Grande.
Texas has continued to install razor wire along its roughly 1,200-mile (1,900 kilometers) border with Mexico over the past year. In a 2-1 ruling, the court issued an injunction blocking Border Patrol agents from damaging the wire in Eagle Pass.
“We continue adding more razor wire border barrier,” Republican Gov. Greg Abbott posted on the social platform X in response to the ruling. A spokesperson for the Department of Homeland Security did not immediately respond to an email seeking comment Wednesday.
Some migrants have been injured by the sharp wire, and the Justice Department has argued the barrier impedes the U.S. government’s ability to patrol the border, including coming to the aid of migrants in need of help. Texas contended in the lawsuit originally filed last year that federal government was “undermining” the state’s border security efforts by cutting the razor wire.
The ruling comes ahead of President-elect Donald Trump returning to office and pledging a crackdown on immigration. Earlier this month, a Texas official offered a parcel of rural ranchland along the U.S.-Mexico border to use as a staging area for potential mass deportations.
Arrivals at the U.S.-Mexico border have dropped 40% from an all-time high in December. U.S. officials mostly credit Mexican vigilance around rail yards and highway checkpoint. |
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