US inflation ticks up slightly, clouding pace of 2025 interest rate cuts

Inflation remains stubborn in the United States, with a monthly indicator showing consumer prices rose slightly in October. With inflation still above the US Federal Reserve’s inflation target of 2 per cent, economists are betting the pace of US rate cuts in 2025 will be slower than expected. Also, Donald Trump nominates China hawk Jamieson Greer to be US Trade Secretary to enforce his planned tariffs on Canada, Mexico and China.