Kansas City Fed president Jeff Schmid said Thursday he thinks inflation remains too high and cutting interest rates could drive it higher, eclipsing any benefit to the job market. "Right now, I see an economy that is showing momentum and inflation that is too hot,

Prices rose 2.7% in December from a year ago, a sign that inflation continues rising but in line with the pace seen in recent months.

CNN was grilled on X Tuesday after users called out a perceived disparity in how the outlet framed inflation under President Donald Trump versus former President Joe Biden.

President Donald Trump said December inflation data supports his calls for Federal Reserve Chair Jerome Powell to cut interest rates after CPI showed 2.7% annual price growth.

Inflation in metro Phoenix fell below the national rate in December as housing costs cooled, but groceries, energy and health care stayed high.

Inflation is rising to a greater degree in the Bay Area than nationwide. The nation’s consumer price index rose at a yearly pace of 2.7% in December, the Bureau of Labor Statistics reported.

Interest rates set by the Bank of England should continue to fall as inflation is likely to settle ​around the central bank's 2% target soon, BoE policymaker ‌Alan Taylor said on Wednesday.

Stocks are holding near their records on Wall Street following the latest update on inflation, one that could keep the door open for the Federal Reserve to cut interest rates further later this year.