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US inflation edges up as Trump renews criticism of Fed chief
US inflation edges up as Trump renews criticism of Fed chief
by  AFP

The US Federal Reserve's preferred inflation measure logged a mild uptick Friday while spending weakened, triggering another tirade by President Donald Trump against the central bank chair for not cutting interest rates sooner. But central bank officials have not rushed to slash interest rates, saying they can afford to wait and learn more about the impact of Trump's recent duties.

UK govt climbs down on welfare cuts in latest U-turn
UK govt climbs down on welfare cuts in latest U-turn
by  AFP

The UK government backed down Friday on controversial plans to slash disability and sickness benefits after a major rebellion by MPs, dealing a blow to Prime Minister Keir Starmer's authority. The prime minister has a massive majority of 165 MPs, meaning he should be able to force whatever legislation he wants through parliament.

US Fed's preferred inflation gauge picks up as tariff effects loom
US Fed's preferred inflation gauge picks up as tariff effects loom
by  AFP

The US Federal Reserve's preferred measure of inflation edged up in May while spending weakened, government data showed Friday, with policymakers monitoring the effects of President Donald Trump's tariffs in the coming months. But central bank officials have said they expect to learn more about the impact of tariffs over the summer, meaning they will be scrutinizing data in the coming months.