At an annual rate of 3. 4 in april, down from 3. 5 in march. It doesnt sound much of a drop, but it was the first time this year that inflation has fallen as expected, suggesting the fed could finally be winning the battle against soaring prices. Heres erin delmore in new york. A banner day on wall street with all three major indexes closing at record highs. Thats right the dow, the s p 500 and the nasdaq all hit their highest levels ever. The catalyst wednesdays Consumer Price index report which showed inflation rising less rapidly in april than wed seen in the first three months of the year. Fed Chairjerome Powell had said just a day earlier that fed officials were surprised by this years higher than expected readouts. Traders keenly watch Inflation Figures for clues on how the fed will move forward on Interest Rates. Any news of price increases easing raises their hopes the Interest Rates will be cut sooner rather than later. Now more investors expect the fed to make its first rate
Negotiations are going on right now to get these things passed . Guest what has happened so far is that the senate has pushed for this trade bill and got an advance only with lastminute maneuvering on the Chamber Floor yesterday. You had a band of senators who really want to get the Exportimport Bank passed and that also has a time sensitive deadline at the end of next month. And mcconnell got these senators on board and that bill was advance. Now they are tried to push through today and bunch of amendments and maybe final passage of this trade promotion authority, which would pave the way for future trade pacts by limiting congressional debate that congress will not be able to tinker too much with these major trade deals that are coming down the line. After that, it is going to be this big debate on the nsas bulk collection of telephone metadata. There are two Different Things that are going to go through. There is going to be a vote on the house nsa freedom act. That passed overwhelm
The incident happened in baltimore, more than half the people there are unemployed. This is an area of town that doesnt have a single grocery store. Theres not a single restaurant in the area. Not even a fast food joint. So you have high unemployment. You have very few opportunities for people and its not surprising that theres a certain hopelessness and despair and frustration that sets in so that when theres an incident like freddie gray, it lights a spark and everything goes off. The question then becomes how do you tamp this down . How do you solve the problems that beset an area like that . How do you give people less or more hope, more opportunity, the chance to get out from under the conditions theyre living insome well, after the riots people thought about it politicians in particular thought about it for about ten seconds, and then immediately came up with their answer, which is that we need to spend more money. That we heard over and over again. We need to invest in our inner