Calling it “the worst day of his political life,” Sen. Al Franken said Thursday he will resign from the U.S. Senate following a wave of sexual misconduct allegations against him that ranged from groping to forcibly trying to kiss women.
Franken, who said that some of the compaints against him were “simply not true” and that he remembers others “differently,” also took a parting shot at President Trump.
Consumer prices jump much more than forecast, sparking inflation fears in some
U.S. consumer prices rose considerably more than expected in January, fueling fears that inflation is about to turn dangerously higher.
The Consumer Price Index rose 0.5 percent last month against projections of a 0.3 percent increase, the Labor Department reported Wednesday. Excluding volatile food and energy prices, the index was up 0.3 percent against estimates of 0.2 percent.
The report indicated that price pressures were “broad-based,” with rises in gasoline, shelter, clothing, medical care and food.
Markets reacted sharply to the news. The Dow opened more than 100 points lower, but reversed those losses after the first half-hour of trading. Government bond yields also turned higher, with the benchmark 10-year note most recently trading near 2.88 percent, a gain of about 3.8 basis points.
Investors also began to price in the likelihood that the Federal Reserve will raise interest rates at least three times this year.