By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices were unchanged for a third straight month in January, leading to the smallest annual increase in inflation in more than 1-1/2 years, which could allow the Federal Reserve to hold interest rates steady for a while. The Labor Department's report on Wednesday supported the Fed's recent description of price pressures being "muted." In a policy statement last month, the U.S. central bank kept rates unchanged, pledged to be "patient" before tightening monetary policy further and discarded promises of "further gradual increases" in borrowing costs. "Inflation still appears to be well in check," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan. "That should be enough for the Fed to take time to evaluate the gradual effects of its prior rate hikes and move more slowly and thoughtfully in administering rate policy in the months ahead." The Consumer Price Index last month was held down … [Read more...] about Lower gasoline prices restrain U.S. consumer inflation
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Watch the new CBSN Originals documentary, "Families in Crisis: Illegal Immigration," in the video player above. The full hour-long special premieres on CBSN Sunday, Jan. 20, at 8 p.m., 11 p.m. and 2 a.m. ET. When U.S. consumers are calling about a hotel reservation or an airline flight, there's a good chance a deportee in El Salvador is on the other end of the line. Call centers are a thriving business in El Salvador. In office buildings lined with cubbies, employees sit at computers wearing a phone headset and responding to callers' questions in clear, American-accented English. Some foreign firms, including U.S. companies, run these call centers, and they find a ready pool of English-speaking workers in the community who've been deported from the United States. The pay isn't much, but 45-year-old Rafa Arturo doesn't have any better options. He was born in El Salvador, but his parents brought him to California as a young child and he spent most of his life in the U.S., growing … [Read more...] about Deported from the U.S., now answering your calls
WASHINGTON (Reuters) - The U.S. economy is taking a larger-than-expected hit from the partial government shutdown, White House estimates showed on Tuesday, as contractors and even the Coast Guard go without pay and talks to end the impasse seemed stalled. FILE PHOTO: U.S. Coast Guards display part of the 1280 kg (2822 pounds) of cocaine, worth an estimated $37 million, seized in a routine patrol during a media presentation in San Juan, May 6, 2014. REUTERS/Ana Martinez/File Photo The longest such shutdown in U.S. history dragged into its 25th day with neither Trump nor Democratic congressional leaders showing signs of bending on the topic that triggered it - funding for a wall Trump promised to build along the border with Mexico. Trump insists Congress shell out $5.7 billion for wall funding this year, as about 800,000 federal workers go unpaid during the partial shutdown. He has refused to support legislation providing money for a range of agencies to operate until he gets … [Read more...] about Shutdown bites economy, U.S. Coast Guard, as talks to end impasse…
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily. Overall, the report from the Labor Department on Friday pointed to moderate inflation, which could support recent statements by Federal Reserve officials for caution about raising interest rates this year. "The Fed will take this as further proof that price pressures are building more slowly than some have feared based on the strong growth of late and tight labour market," said James McCann, senior global economist at Aberdeen Standard Investments. "It certainly seems to justify the Fed's message about being more patient on rate increases." The Consumer Price Index dipped 0.1 percent last month, the first drop and weakest reading since March. The CPI was unchanged in November. In the 12 months through December, the CPI rose 1.9 percent … [Read more...] about U.S. consumer prices post first drop in nine months on gasoline
Melissa Nann Burke The Detroit News Published 11:21 AM EDT Nov 1, 2018 In a relatively sleepy race, two Marine veterans of different generations are vying for the U.S. House seat representing northern Michigan and the Upper Peninsula. Freshman Rep. Jack Bergman, a retired three-star general from Watersmeet, has rarely split with President Donald Trump, embracing his tariffs, border wall and the GOP tax reform bill. He wants to repeal the federal health care law and scale back regulations. Democrat Matt Morgan of Traverse City, an Iraq veteran and political newcomer, has campaigned on single-payer universal health care, infrastructure upgrades and immigration reform. He says Trump's tax reform has had no "meaningful" effect on worker wages. "People often say, he's a Marine, you're a Marine. What's the difference between the two of you? The biggest difference is who's funding our campaigns," Morgan said. "He accepts corporate political … [Read more...] about Marine veterans vie for U.S. House seat in northern Michigan, U.P.