President-elect Donald Trump’s impending inauguration has sparked a political dispute in Washington over federal aid for fire-ravaged Los Angeles, with House Speaker Mike Johnson suggesting consequences for California’s leadership during the wildfires. California Democrats criticized Johnson for politicizing the disaster, while Trump intensified his feud with the state by demanding the release of water and tying future wildfire funding to raising the debt ceiling. House Democrats rejected any conditions for disaster assistance, emphasizing the need to prioritize relief efforts over political leverage.
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Inflation Sped Up in December, a Fresh Challenge for the Fed
In December, consumer prices rose 0.4 percent from November, with the Consumer Price Index up 2.9 percent from a year earlier, driven by a sharp increase in grocery prices. Core inflation slowed slightly to 3.2 percent, but overall progress in fighting inflation has stalled, leading the Federal Reserve to consider holding interest rates steady amid concerns about President-elect Donald J. Trump's proposed policies impacting the economy. Full Article
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