US data agency cancels October inflation report as Fed considers whether to cut rates

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The US federal government will not publish official data on inflation for October, depriving policymakers at the Federal Reserve of key information as they consider whether to cut interest rates.The Bureau of Labor Statistics canceled the release of the closely watched consumer price index (CPI) for October, citing the government shutdown – the longest in history, before it ended earlier this month – and stating it could not “retroactively collect” the data required for the report.The decision, announced on Friday, heightens uncertainty around the strength of the US economy.Jerome Powell, the Fed chair, had already likened the central bank’s task of guiding the economy, without standard data on its performance, to “driving in the fog”.Price growth remains above typical levels, according to recent CPI releases.

Donald Trump, who for months denied inflation was still high, has in recent weeks taken several steps to tackle concerns around affordability.Fed officials, under pressure from persistent demands from Trump, are meanwhile weighing whether to cut interest rates.The central bank raised rates aggressively in 2022 and 2023 to combat inflation, and started cautiously cutting them late last year.Powell has made clear he planned to tread carefully in the absence of important information on the economy’s strength and direction.“We’re going to collect every scrap of data we can find, evaluate it and think carefully about it,” he said last month.

“What do you do if you’re driving in the fog? You slow down.”That said, a speech by one Fed policymaker lifted expectations of another rate cut in December.John Williams, the president of the Federal Reserve Bank of New York, said on Friday that he still saw “room for a further adjustment in the near term” to rates.The latest jobs report, for September, was a mixed bag, with 119,000 jobs added, but the unemployment rate ticked up to its highest level since 2021, and growth estimates for the preceding months were revised lower.The September jobs report was also disrupted by the shutdown, and released more than a month later.

The complete October report will not be released at all, although data on the number of jobs created or lost in that month will be published alongside the full report for November – a week after the next Fed meeting,
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Seth Meyers on Epstein files: ‘It’s obvious why Trump fought so hard to stop this bill from passing’

Late-night hosts reacted to the congressional vote sending the bill to release all files related to late pedophile Jeffrey Epstein to the desk of his former friend Donald Trump.It was a tough Tuesday for Trump, who lost his months-long battle to stop the release of the Epstein files on Tuesday after Congress passed a bill forcing the justice department publish them. “So now Trump is doing a 180,” said Seth Meyers on Wednesday’s Late Night.“He says he’ll sign the bill that forces him to release the files he could’ve released on his own but wouldn’t, thus requiring a bill to force him to do the thing he didn’t want to do that he’ll now be forced to do because of the bill he was against that he will now sign.”“It’s obvious why Trump fought so hard to stop this bill from passing,” Meyers later added

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My cultural awakening: I moved across the world after watching a Billy Connolly documentary

I was 23 and thought I had found my path in life. I’d always wanted to work with animals, and I had just landed a job as a vet nurse in Melbourne. I was still learning the ropes, but I imagined I would stay there for years, building a life around the work. Then, five months in, the vet called me into his office and told me it wasn’t working out. “It’s not you,” he said, “I just really hate training people

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Jimmy Kimmel on Epstein files congressional vote: ‘Make no mistake – this isn’t over’

Late-night hosts celebrated the congressional votes to release the Epstein files and decried Donald Trump’s warm meeting with the Saudi crown prince, Mohammed bin Salman.Tuesday was “a very big day” in Washington DC, said Jimmy Kimmel on Tuesday evening, as both the House and Senate voted near unanimously to authorize the justice department to release investigative files related to the late pedophile Jeffrey Epstein.“Ultimately even [speaker] Mike Johnson voted yes on releasing the files,” Kimmel noted, meaning that the bill now heads to the White House, where it will probably66 be signed by Trump.“The goal was to have the bill pass by such a large margin that Trump can’t put his little orange thumb on the scale and give it the old Cheeto veto,” he explained. “But make no mistake: this isn’t over

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British Museum ends ‘deeply troubling’ sponsorship from Japanese tobacco firm

The British Museum has ended a controversial sponsorship deal with a Japanese tobacco firm after reports that the government had raised questions about the deal, which some critics said was “deeply troubling”.The Guardian understands that the museum’s board chose to not renew the 15-year partnership with Japan Tobacco International (JTI), which ended in September.The pressure group Culture Unstained submitted a freedom of information request earlier this year, which it says revealed correspondence sent in January in which the government raised questions about the details of the deal.The Times reports that the Department of Health and Social Care told the Department for Culture, Media and Sport that the deal could be a breach of the World Health Organization’s framework convention on tobacco control (FCTC).The framework bars states from advertising and promoting smoking products

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Why don’t Conservatives get credit for culture funding? | Letter

Helen Marriage, a hugely respected cultural leader, writes that “there is no political party that will commit to the kind of investment needed to keep a living art and culture ecology alive” (Durham’s Lumiere festival was a beacon of hope and togetherness – we cannot let the lights go out on the rest of the arts, 11 November). But she also places the responsibility on all of us. She wants the culture sector to make a better case. But can it?As commissioner for culture in the last government, I remain surprised that large funding decisions directed at culture have been forgotten, devalued and ignored, perhaps because the sources were then from a Conservative government.During Covid, culture was the only economic sector to receive its own rapid, specially designed, comprehensive rescue package

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Jon Stewart on Trump’s Epstein files flip-flop: ‘This dude is flailing’

Late-night hosts tore into the next chapter of Donald Trump’s never-ending Jeffrey Epstein scandal.Jon Stewart ripped into Trump on Monday evening after the president abruptly changed tack and called on House Republicans to authorize the justice department’s release of files related to Epstein, a convicted sex offender – files which Trump himself could order to be released.“If he had nothing to hide, he could have declassified and released these files himself at any time,” the Daily Show host explained. “How do I know this? A legal expert named Donald Jurisprudence Trump said so.”Stewart then played footage of Trump from 2022 in which he insisted that the president can declassify anything, at any time, just by saying so or “even by thinking about it”