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Month: January 2023

Prices rose at a slower pace last month, the Fed’s favored inflation gauge shows

By Alicia Wallace, CNN The Federal Reserve’s preferred inflation gauge showed prices rose at a slower pace last month, indicating further progress in the central bank’s battle with higher prices. The Personal Consumption Expenditures price index, or PCE, rose by 5% in December, compared to a year earlier, the Commerce Department reported Friday. In December

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Biden formally announces Ron Klain is stepping down as White House chief of staff and will be replaced by Jeff Zients

By Allie Malloy and Jeremy Diamond, CNN President Joe Biden announced White House chief of staff Ron Klain will step down next week and will be replaced by Jeff Zients, the former Obama administration official who ran Biden’s Covid-19 response operation. Biden said there will be an “official transition” event at the White House next

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