The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – The United States and France are working together to confront a variety of global challenges, President Barack Obama said Tuesday at the start of a White House visit by France’s Francois Hollande.

“More nations must step up and meet the responsibilities of leadership, and that’s what the United States and France are doing together,” Obama said in opening remarks, Hollande by his side.

This story will be updated.

AFP Photo/Mandel Ngan

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

For a long time, inflation has been the phantom of the American economy: often expected but never seen. But the latest Consumer Price Index, which showed that prices rose by five percent from May of last year to May of this year, raises fears that it is breaking down the front door and taking over the guest room.

The price jump was the biggest one-month increase since 2008. It appears to support the warning of former Treasury Secretary Larry Summers, who wrote in February that President Joe Biden's budget binge could "set off inflationary pressures of a kind we have not seen in a generation." Senate Republican leader Mitch McConnell charged last month that the administration has already produced "raging inflation."

Keep reading... Show less

Close