The Philadelphia Caller
Philadelphia News, Spots and More WASHINGTON DC. - Federal government funding hangs in the balance as a government shutdown deadline looms at midnight tonight. The U.S. House of Representatives, under the leadership of Speaker Mike Johnson, is racing to pass a new spending bill to extend funding until mid-March. This urgent action follows the failure of a previous proposal, which faced bipartisan opposition, highlighting the significant partisan divisions within Congress.
UNITED STATES - The latest November PCE Price Index report, released on December 20, 2024, revealed cooler-than-expected inflation data, sending positive signals through financial markets. The core PCE, which excludes volatile food and energy prices, rose a mere 0.1% month-over-month, below the forecasted 0.2%. Year-over-year, the core PCE inflation came in at 2.8%, below the anticipated 2.9%. This news triggered an immediate positive reaction, with stock indices like the S&P 500 and Dow Jones Industrial Average experiencing gains in pre-market trading.