Inflation slowdown? Not in some cities, where consumer prices still top 12%

Phoenix, Atlanta see highest inflation among US cities 

Megan Henney / FOXBusiness

 

IInflation is finally beginning to show signs of slowing down in the U.S., but any financial relief that Americans may have felt hinged on where they lived.  

The Labor Department reported on Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 7.7% in October from a year ago, the slowest pace since January.

But in some parts of the country, the pace of inflation was much higher. 

Several Mountain states have become a hotbed for inflation, with the region — which includes Arizona, New Mexico, Colorado, Utah, Nevada, Wyoming, Idaho and Montana — reporting that prices soared 9.3% in October.

Herschel Walker Rakes In Over $3 Million As Georgia Senate Runoff Takes Off

Sarah Arnold / Townhall Tipsheet

Republican Georgia Senate candidate Herschel Walker is picking up speed as the race heads into a runoff against Democrat opponent Raphael Warnock. 

Just one day after the election went into a runoff, Walker raised $3.3 million as his new campaign kicks off. 

The following day, Walker brought in, even more, raising $4.3 million. 

During Tuesday’s election, the Republican brought in 35,000 votes short, putting Warnock in the lead. 

Sources say that Walker will focus his energy rallying in large-populated areas where turnout happens, to energize supporters of former President Donald Trump ‘soft Republicans and independents to vote in the runoff contest.”

Despite GOP Messaging Failure on Abortion, Rubio and DeSantis Proved to Be Pro-Life 'Role Models'

Rebecca Downs / Townhall Tipsheet

Tuesday's midterm elections did not produce the Republican victories that many were expecting and hoping for, though members of Republican leadership still sought to pat themselves on the back. One bright exception to that is in Florida, where both Gov. Ron DeSantis and Sen. Marco Rubio ran away with their reelection campaigns, trouncing their Democratic opponents by double digits. All of this could be specifically applied to the abortion issue specifically as well.

Susan B. Anthony Pro-Life America held a press call on Wednesday morning, during which their president, Marjorie Dannenfelser and Frank Cannon, a political strategist for the organization, highlighted the "political malpractice" committed by many Republicans. 

A memo from Dannenfelser referred to this in terms of the "ostrich strategy." This applied to Republican leadership, as well as Republican Senate nominee for Pennsylvania, Dr. Mehmet Oz, who conceded on Wednesday morning to his Democratic opponent, Senator-elect John Fetterman.

'What the Hell Was That Today?': Republicans React to Trump's Latest Statement

Spencer Brown / Townhall Tipsheet

On Thursday night, with midterm races still yet to be called in key states that will determine the balance of power in Congress, former President Donald Trump issued a statement targeting Florida Governor Ron DeSantis who walloped Democrat Charlie Crist in one of the few clear GOP victories of what was supposed to be a national "red wave" night in repudiation of President Biden's agenda. 

Trump's lengthy statement began by using his new nickname for DeSantis — for whom he voted in Florida this week — "DeSanctimonious," and called him "an average REPUBLICAN Governor with great Public Relations" who "has the advantage of SUNSHINE." Trump also claimed "people from badly run States up North would go [to Florida] no matter who the Governor was, just like I did."

The 45th president continued his attack on DeSantis by claiming the popular governor's first campaign had "completely fallen apart" before Trump stepped in to endorse him, hold rallies on his behalf, and "fixed" his campaign while stopping the "election from being stolen." Trump's accusatory statement continued...Read more and see tweets here. 

 Happy Veterans Day to all who served...we honor and we thank you.

 

Fed may need to hike interest rates above 6% to crush inflation, Larry Summers says

Summers: Little evidence of 'inflation restraint' so far despite higher interest rates

Megan Henney / FOXBusiness

 

Stubbornly high inflation could force the Federal Reserve to aggressively raise interest rates above 6%, the highest in more than two decades, according to former Treasury Secretary Larry Summers. 

The U.S. central bank has embarked on one of the fastest courses in history to raise borrowing costs and slow the economy. Policymakers have already increased the benchmark federal funds rate from near-zero in March to a range of 3.75% to 4%, the highest since the 2008 financial crisis. 

Despite the steeper interest rates, inflation is still running near a 40-year high, with the Labor Department reporting that the consumer price index rose 8.3% in September on an annualized basis. 

The unrelenting rise in consumer prices may ultimately give the Fed no choice but to hike interest rates above the projected peak rate of 4.6% next year, Summers said during an interview on Bloomberg TV. Read more and see video here.

Disturbing: Women Can Now Get An Abortion At Nine Months In California 

Sarah Arnold / Townhall Tipsheet

How Gov. Gavin Newsom survived a recall election and then sailed through to victory in Tuesday’s midterm elections is a whole other issue to be discussed.

Right now, Americans need to worry about what the passing of Proposition 1 means for unborn babies’ lives in California. 

Nearly two-thirds of California voters approved a measure on the ballot to preserve the “right” to abortion and contraception in the state constitution. 

Prop 1., would allow women to receive an abortion up until the time of birth, or when the baby is viable, meaning there are no limitations for when an unborn baby’s life could be cut off.