Inflation (Slightly) Eases |
US inflation rose 7.7% year-over-year in October, down from 8.2% in September and lower than the 7.9% analysts had expected. The figure, released in government data yesterday, represents the smallest 12-month increase since January. See data breakdown here and historical data in charts here.
The decline in the consumer price index, a proxy for inflation that tracks the price of a basket of goods and services, is primarily driven by price decreases for used vehicles (-2.4%), apparel (-0.7%), and medical care (-0.6%). The core consumer price index, which removes volatile food and energy prices, rose 6.3% year-over-year in October, compared to 6.6% year-over-year in September.
The inflation rate, however, remains above the Federal Reserve\'s 2% target (see 101). Analysts expect the Fed to likely opt for a smaller 0.50% increase in interest rates next month to continue to curb inflation.
US stock markets rose the most since 2020 on the news (S&P 500 +5.5%, Dow +3.7%, Nasdaq +7.4%). |
Sunday will mark the 40th anniversary of the dedication of the Vietnam Veterans Memorial. More than 58,000 names of every US service member who died or went missing in the Vietnam War have been read this week leading up to a Veterans Day Observance at the memorial today.
The wall, consisting of two 200-foot-long sections of black granite listing the names in chronological order, was designed by then-21-year-old Yale student Maya Lin and cost $8.4M to construct. More than 5 million people each year visit the wall, making it one of the most visited memorials on the National Mall. See some of the items that have been left at the wall.
Today, the country honors those who served and are serving in military. Veterans Day became an official federal holiday in 1938, marking the recognized end of World War I on the eleventh hour of the 11th day of the 11th month.
Watch Veterans Day ceremonies at Arlington National Cemetery here. |
Doctors have successfully prevented the symptoms of a rare genetic childhood disease via treatments delivered while the child was still in the womb, a first-of-its-kind achievement that raises the potential for new in-utero therapies for deadly conditions.
Pompe disease arises from a genetic mutation that prevents the body from properly breaking down glycogen, a sugar used for energy (see 101), resulting in weak heart and skeletal muscles. Most infants begin receiving treatments immediately after birth but suffer irreversible and often fatal organ damage during fetal development.
The patient, now a toddler named Ayla—who had two siblings die from the disease—began receiving infusions of the needed enzyme at 24 weeks via injections into her mother\'s umbilical vein. Doctors say Ayla will require regular infusions throughout her life, but otherwise shows no signs of the disease.
Doctors say the approach may be used to treat other deadly inherited diseases, including alpha thalassemia, which can cause severe anemia and death in infants. |
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