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NYT > Economy

The Consumer Price Index for October will show how price pressures are trickling through the U.S. economy. See more of our coverage in your search results. Colby Smith covers the Federal Reserve. U.S. inflation has accelerated this year as the war with Iran, along with an artificial intelligence investment boom, have stoked price pressures across the country. Data released by the Bureau of Labor Statistics on Tuesday will show just how potent those pressures continue to be. Economists broadly expect a reprieve in October, with overall prices as measured by the Consumer Price Index rising 0.3 percent for the month after a 0.6 percent jump in September. "Core" prices, which strip out volatile food and energy items, are forecast to have risen just 0.2 percent. But don't expect a year-over-year comparison. The agency will not release one given that it was unable to collect data during last year's government shutdown, which ran from Oct. 1 through Nov. 12. The trajectory of inflation is being closely watched by the Federal Reserve. Tuesday's C.P.I. report will be the last before the central bank meets for its final gathering of the year on Dec. 8 and 9. November's report comes out the day after the meeting. Policymakers have broadly signaled that they will raise rates next month as they seek to stamp out price pressures that have pushed inflation further away from their goal.


Here's why last year's government shutdown will haunt October's inflation data.

NYT > Economy

The Consumer Price Index for October will show how price pressures are trickling through the U.S. economy. See more of our coverage in your search results. Colby Smith covers the Federal Reserve. U.S. inflation has accelerated this year as the war with Iran, along with an artificial intelligence investment boom, have stoked price pressures across the country. Data released by the Bureau of Labor Statistics on Tuesday will show just how potent those pressures continue to be. Economists broadly expect a reprieve in October, with overall prices as measured by the Consumer Price Index rising 0.3 percent for the month after a 0.6 percent jump in September. "Core" prices, which strip out volatile food and energy items, are forecast to have risen just 0.2 percent. But don't expect a year-over-year comparison. The agency will not release one given that it was unable to collect data during last year's government shutdown, which ran from Oct. 1 through Nov. 12. The trajectory of inflation is being closely watched by the Federal Reserve. Tuesday's C.P.I. report will be the last before the central bank meets for its final gathering of the year on Dec. 8 and 9. November's report comes out the day after the meeting.


The Unfinished Business of American Socialism

The New Yorker

Can American Socialism Survive Its Success? The movement has often seen its ideas flourish as its organizations withered. Will today's resurgence follow the same course? In 1912, more than a thousand socialists held office in the United States. Their ambitions ranged from lowering trolley fares to abolishing the Senate. It was American socialism's best year ever. In 1912, the Socialist Party of America tallied a hundred and twenty thousand members, and newsstands groaned under the weight of some three hundred socialist papers and magazines, including the Kansas-based, which had three-quarters of a million subscribers and was committed to the belief that "socialism is not just a theory--it is a destiny."


Top Gulf official offers glimmer of hope on Trump-Iran nuclear talks as threat of war hangs over region

FOX News

A senior UAE official says he is cautiously optimistic about U.S.-Iran nuclear talks through Qatari mediation, even as missile and drone attack threats persist in the Middle East.


The Tide Could Be Turning on Global Climate Cooperation

TIME - Tech

The idea that climate action has slowed down ignores the fact that countries continue to make progress on issues that have long divided them, writes Laurence Tubiana, CEO of the European Climate Foundation.


Tech stock rout, driven by US AI fears, continues in Asian trading

Al Jazeera

A tech stock rout that began overnight in the United States has persisted in Asian trading. Market authorities in South Korea paused trading on Friday as prices plunged across the region. Global markets have been rattled by a sharp fall in the trading price of tech stocks, which is driven by fears that the Democrats' victory in the US midterm elections will increase regulatory scrutiny of AI and slow the country's data centre build-out. Indices in South Korea and Taiwan plunged more than 8 percent after the opening bell, before cutting losses as authorities scrambled to stem the selling. Wall Street's volatility "fear gauge" soared overnight on Thursday and the tech-focused Nasdaq sank 5.5 percent, wiping $3 trillion off S&P 500 firms, as investors fretted that the Democrats could put the brakes on the AI boom being encouraged by President Donald Trump.


Polymarket Halted International Trading After Hackers Drained Accounts

WIRED

The company says an unnamed third-party provider was compromised. Trading has resumed, and Polymarket says affected traders will be made whole. Trading has resumed on Polymarket's flagship international platform after a hack that drained money from the wallets of some traders. A third-party vendor based in the United Kingdom was breached, not the prediction market's website itself. Law enforcement in the UK have been notified of the incident, the company said.


How the War in Iran Could Escalate

TIME - Tech

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Team USA's Olympic hockey heroes reunite as Jack Hughes' Devils land goalie Connor Hellebuyck in blockbuster

FOX News

Fans are sick and tired of the NFL's obsession with flags, anthem fatigue is real & UGA football is too smart! France's top soccer team obeys police order to move Sunday match; Saints, Steelers owners meet with Macron AOC says she supports men in women's sports because she's a girl's girl Did Texas use artificial intelligence to call fourth-down play against Florida? LeBron James doubles down with sneaky golf hip turns during national anthem after Trump's'total disgrace' dig Drake Maye's end-zone interception proves costly as Patriots fall 30-24 to Bears in primetime Rhamondre Stevenson's miraculous 48-yard touchdown stuns Bears as clock expires in first half Todd Benzinger, who caught the final out of the Reds' 1990 World Series sweep, dead at 63 Super Bowl champion Marshall Faulk says he is living with Parkinson's disease NBA legend Charles Barkley says he won't'burn every bridge' like Aaron Rodgers as he considers retirement Enes Kanter Freedom says he was treated like a'criminal' at WNBA game President Trump touts his administration's border security at midterm rally in Florida Data shows Iran's shadow tanker fleet has run out of oil Court documents reportedly list Rep. Ilhan Omar under different name OutKick Team USA's Olympic hockey heroes reunite as Jack Hughes' Devils land goalie Connor Hellebuyck in blockbuster US Olympic hockey teams are celebrated for achieving a historic milestone as both the men's and women's teams won gold medals. The victories over Canada included an overtime thriller for the men's team featuring a golden goal by Jack Hughes and 41 saves by MVP Connor Hellebuyck. Women's key contributors Abbey Murphy and Joy Dunne were also honored for their historic championship run.


Palmer Luckey Made a Genetically Modified Military Dog Startup

WIRED

Warhound came out of stealth on Wednesday with $200 million in funding and a mission to create elite working dogs equipped with advanced body armor. A new startup launched today with the definitely not terrifying mission of creating genetically enhanced dogs for the United States military, law enforcement, and emergency first responders. The startup has raised $200 million to "rebuild America's domestic supply of elite working dogs" and reduce dependency on European dog breeders for military canines. Lamm tells WIRED that Warhound is in the process of gene-editing its first batch of dogs. The startup has already collected blood samples from specific top-performing" military, police, and first responder dogs in the United States, and its goal is to clone them.