Consumer spending sharply declined in January, signaling a potential economic slowdown, with retail sales dropping 0.9% after an upwardly revised gain in December. Excluding autos, sales fell 0.4%, impacting the “control” measure for GDP calculations. Despite concerns, some factors like bad weather and auto sales fluctuations suggest no cause for alarm, while inflation remains above the Fed’s target at 3% annually.
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Federal prosecutors to seek death penalty for accused CEO killer Luigi Mangione
Hours before his arraignment, federal prosecutors indicated they would seek the death penalty for Luigi Mangione if convicted of murdering United Healthcare CEO Brian Thompson, highlighting his intent to incite political resistance against the industry. Mangione is expected to plead not guilty to a four-count indictment, including murder via firearm. Prosecutors argued that his actions were designed to amplify an ideological message, while defense attorneys condemned the death penalty pursuit as a "barbaric" political stunt....
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