Inflation closed out 2024 strong, with the personal consumption expenditures price index increasing 2.6% year-over-year in December, meeting expectations and above the Fed’s 2% target. Core PCE also came in at 2.8%, signaling elevated inflation levels. Fed Governor Michelle Bowman expects inflation to decelerate in 2025 but suggests keeping interest rates on hold until clear signs of improvement are seen.
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Trump offers $50M for Venezuela president arrest
The Trump administration has increased the reward for the arrest of Venezuelan President Nicolás Maduro to $50 million, accusing him of narco-trafficking and involvement with cartels in flooding the U.S. with fentanyl-laced cocaine. Despite previous indictments and a significant bounty, Maduro remains in power, with Venezuelan officials dismissing the reward as political propaganda. Want More Context? 🔎
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