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Tariff-driven price increases broaden across US, wage growth higher: Fed

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Tariff-driven price increases have spread more broadly through the U.S. economy, though on balance inflation has risen at a modest pace in most parts of the country, the Federal Reserve said on Wednesday in its latest report on the economy

The U.S. central bank’s “Beige Book” report, a snapshot of the economy gleaned from discussions with business contacts in the Fed’s 12 districts in the weeks through November 26, also said that the economy appeared to be growing modestly to moderately. Labor markets tightened across a broad range of industries, and wage growth “tended to the higher side of a modest to moderate pace.”

The Fed is widely expected to raise interest rates at the close of its Dec. 18-19 policy meeting. Policymakers have said the United States’ strong economy could stoke higher inflation if they do not raise borrowing costs further.

At the same time, Fed Chairman Jerome Powell has signaled the Fed’s three-year tightening cycle is drawing to a close and central bankers are looking for signs a global growth slowdown and a U.S.-China trade war might be weighing on the U.S. economy.

Recent Beige Book reports have detailed business worries about rising tariffs, including reports by U.S. factories that they were raising prices because tariffs were making input costs more expensive.

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Reporting by Jason Lange and Howard Schneider in Washington and by Ann Saphir in San Francisco; Editing by Andrea Ricci


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‘Absolutely disastrous’: Progressives furious as fellow Democrats push funding cut for health clinics that serve 30 million Americans

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"If Democrats were serious about protecting every American's right to healthcare, this plan wouldn't even be on the table."

Progressive members of Congress are raising alarm and publicly calling out Democratic colleagues who are pushing legislation that would significantly cut funding to community health centers, which currently provide essential care to around 30 million primarily poor and rural Americans.

As the Washington Post's Jeff Stein reported Wednesday, Rep. Frank Pallone Jr. (D-N.J.) is advancing a bipartisan measure that "would provide flat levels of federal funding for hundreds of community health centers nationwide, at about $4 billion for the next four years."

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Trump falsely claims he stopped his supporters from chanting ‘Send her back!’

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On Wednesday night, President Donald Trump held a rally in Greenville, North Carolina, where he singled out Rep. Ilhan Omar (D-MN), accusing her and the other Democratic congresswomen known as "the Squad" of not loving America.

In response, the crowd began to shout "Send her back!"

Trump allowed the crowd to continue the chant for a full 12 seconds before continuing his speech.

The next day, amidst criticism that he was riling up his fans to dangerous levels, Trump claimed that he had indeed shut down the chant, in direct contradiction to the video. New York Times journalist Peter Baker reported Trump's claim on Twitter.

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Hope Hicks may have lied under oath that she wasn’t present when Trump and Cohen discussed Stormy Daniels

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Newly unsealed documents in the campaign finance case where Michael Cohen pleaded guilty may provide evidence that Hope Hicks lied to Congress under oath.

According to the court documents, President Donald Trump, Hope Hicks and Cohen were all in communication about the hush-money payments to adult film star Stormy Daniels. Not only did Hicks discuss the payments with both men, she exchanged text messages and emails on the topic.

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