House Republicans are planning to vote on a bill to fund the government for three months, including disaster relief and farm aid, in order to avoid a shutdown before the midnight deadline. The bill will require significant Democratic support to pass the full House and have a realistic path to approval in the Senate. Speaker Mike Johnson is committed to ensuring federal employees receive paychecks over the holidays and has expressed confidence in garnering enough Democratic votes to pass the bill.
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Key Fed inflation measure shows 2.4% rate in November, lower than expected
In November, prices remained stable but still exceeded the Federal Reserve's target compared to a year ago, with the personal consumption expenditures price index showing a 0.1% increase from October and a 2.4% inflation rate annually. Core PCE also rose 0.1% monthly and 2.8% from a year ago, below expectations. Fed officials view core inflation as a better indicator, with goods prices falling 0.4% and services rising 3.8% over 12 months, while housing inflation increased...
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