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Why the December inflation report could push back Fed rate cuts on January 11, 2024 at 4:52 pm Business News | The Hill
The consumer price index (CPI) inched upwards in December following a surprisingly strong jobs report for that month, potentially pushing back an expected March cut in interest rates by the Federal Reserve.
The CPI advanced 0.3 percent on the month, the Labor Department reported Thursday, up from 0.1 percent in November and no increase in October. Annually, the index advanced to a 3.4-percent increase from 3.1 percent in November, but still below recent highs around 3.7 percent reached in September and October.
“This uptick in CPI is a critical reminder of the unpredictable nature of economic recovery and the murkiness of the macro-economic data,” asset manager Jon Maier of Global X said in an analysis.
“It suggests that investors might need to temper their expectations and remain vigilant.”
Thursday’s CPI numbers also come in the wake of a surprisingly strong December jobs report.
The economy added 216,000 jobs in December and the unemployment rate held firm at 3.7 percent, the Labor Department said last week.
The hotter-than-expected inflation and jobs reports still keep the U.S. on track to see price growth fall without a recession — a feat known as a soft landing — despite earlier fears.
Even so, the data could push back the Fed’s plans to reduce interest rates and is dampening expectations on Wall Street of a March cut. Financial markets give the Fed a 69 percent chance of cutting rates at least once in March and are almost certain to see rates hold steady in January, according to the CME FedWatch tool.
Despite the monthly acceleration, headline inflation has fallen precipitously from its pandemic peak of a 9-percent annual increase in June, 2022.
“Core” inflation – which excludes the more volatile categories of energy and food, and is given greater attention by the Fed – was flat on the month and slowed to 3.9-percent annual increase from 4 percent in November.
Housing costs still nearly double the overall rate of inflation
Housing, a sector of the economy that’s particularly responsive to Federal Reserve interest rate hikes, is still trailing the decreases in headline inflation.
Housing costs remain the main driver of inflation at a 6.2-percent annual increase for December. Car insurance prices are also way above average at a 20.3 percent annual increase.
“Shelter and motor vehicle insurance continue to be the persistent trouble spots, extending the streak of outsized monthly increases,” Greg McBride, an analyst with Bankrate, wrote in a Thursday analysis.
“Shelter remains the largest contributor, responsible for more than half of this month’s increase in the headline CPI and more than two-thirds of the increase in core CPI over the past year,” he said.
Despite the level of inflation in housing, prices are still heading downward. They fell in December to a 6.2-percent annual increase from 6.5 percent in November, and they’re down from their peak of 8.2 percent in March of last year.
“Housing is the last mile on inflation and the only way to fight it is by increasing our housing supply. Instead, the Fed’s high interest rates are making this crisis worse by forcing potential buyers back into the rental market and tanking the construction of new housing,” Lindsay Owens, a director of the economic policy advocacy organization Ground Collaborative, said in a statement.
“A higher-for-longer interest rate environment is exactly the wrong approach to bringing down housing costs. Shelter inflation should give the Fed even more incentive to cut rates,” she wrote.
Austin Schaul, an analyst with investment company Avantax, wrote that yields on government bonds could increase with the expectation of fewer cuts this year. That could boost mortgage rates, even as the Fed plans cuts eventually.
“There’s reason to believe the shelter component of inflation should start to weaken, but in the absence of an economic slump or substantial disinflation during the coming months, we may see Treasury yields continue to drift higher as markets curtail their expectations for the easing of monetary policy,” he wrote.
Energy costs are down across the board
Changes in energy costs measured annually were in negative territory for December in every category except electricity.
Gasoline was down 1.9 percent, household gas was down 13.8, and energy as a whole deflated 2 percent.
The average price of a gallon of gasoline nationally is down to $3.07, down from $3.26 a year ago and far below the post-pandemic highs around $5 a gallon, according to the automotive company AAA.
Food prices are lower, but still rising
Food inflation in December was lower than headline inflation at a 2.7-percent annual increase.
Fresh fruit and vegetables have deflated 0.5 percent on the year while fresh seafood deflated 2.5 percent. Eggs were 23.8 percent cheaper than they were in December, 2022.
But food price hikes remain a risk for consumers.
“The last few years of commodity price volatility have coincided with a period of record profit growth by global energy and food traders. In the area of food trading, the four companies that conservatively account for about 70 per cent of the global food market share registered a dramatic rise in profits during 2021 – 2022,” U.N. economists wrote in an October report.
Business, Economy, Consumer Price Index, CPI, federal reserve, Federal Reserve interest rates, Food prices, Housing, inflation The consumer price index (CPI) inched upwards in December following a surprisingly strong jobs report for that month, potentially pushing back an expected March cut in interest rates by the Federal Reserve. The CPI advanced 0.3 percent on the month, the Labor Department reported Thursday, up from 0.1 percent in November and no increase in…
Business
How Epstein’s Cash Shaped Artists, Agencies, and Algorithms

Jeffrey Epstein’s money did more than buy private jets and legal leverage. It flowed into the same ecosystem that decides which artists get pushed to the front, which research gets labeled “cutting edge,” and which stories about race and power are treated as respectable debate instead of hate speech. That doesn’t mean he sat in a control room programming playlists. It means his worldview seeped into institutions that already shape what we hear, see, and believe.
The Gatekeepers and Their Stains
The fallout around Casey Wasserman is a vivid example of how this works. Wasserman built a powerhouse talent and marketing agency that controls a major slice of sports, entertainment, and the global touring business. When the Epstein files revealed friendly, flirtatious exchanges between Wasserman and Ghislaine Maxwell, and documented his ties to Epstein’s circle, artists and staff began to question whose money and relationships were quietly underwriting their careers.

That doesn’t prove Epstein “created” any particular star. But it shows that a man deeply entangled with Epstein was sitting at a choke point: deciding which artists get representation, which tours get resources, which festivals and campaigns happen. In an industry built on access and favor, proximity to someone like Epstein is not just gossip; it signals which values are tolerated at the top.
When a gatekeeper with that history sits between artists and the public, “the industry” stops being an abstract machine and starts looking like a web of human choices — choices that, for years, were made in rooms where Epstein’s name wasn’t considered a disqualifier.
Funding Brains, Not Just Brands

Epstein’s interest in culture didn’t end with celebrity selfies. He was obsessed with the science of brains, intelligence, and behavior — and that’s where his money begins to overlap with how audiences are modeled and, eventually, how algorithms are trained.
He cultivated relationships with scientists at elite universities and funded research into genomics, cognition, and brain development. In one high‑profile case, a UCLA professor specializing in music and the brain corresponded with Epstein for years and accepted funding for an institute focused on how music affects neural circuits. On its face, that looks like straightforward philanthropy. Put it next to his email trail and a different pattern appears.
Epstein’s correspondence shows him pushing eugenics and “race science” again and again — arguing that genetic differences explain test score gaps between Black and white people, promoting the idea of editing human beings under the euphemism of “genetic altruism,” and surrounding himself with thinkers who entertained those frames. One researcher in his orbit described Black children as biologically better suited to running and hunting than to abstract thinking.
So you have a financier who is:
- Funding brain and behavior research.
- Deeply invested in ranking human groups by intelligence.
- Embedded in networks that shape both scientific agendas and cultural production.
None of that proves a specific piece of music research turned into a specific Spotify recommendation. But it does show how his ideology was given time, money, and legitimacy in the very spaces that define what counts as serious knowledge about human minds.

How Ideas Leak Into Algorithms
There is another layer that is easier to see: what enters the knowledge base that machines learn from.
Fringe researchers recently misused a large U.S. study of children’s genetics and brain development to publish papers claiming racial hierarchies in IQ and tying Black people’s economic outcomes to supposed genetic deficits. Those papers then showed up as sources in answers from large AI systems when users asked about race and intelligence. Even after mainstream scientists criticized the work, it had already entered both the academic record and the training data of systems that help generate and rank content.
Epstein did not write those specific papers, but he funded the kind of people and projects that keep race‑IQ discourse alive inside elite spaces. Once that thinking is in the mix, recommendation engines and search systems don’t have to be explicitly racist to reproduce it. They simply mirror what’s in their training data and what has been treated as “serious” research.
Zoomed out, the pipeline looks less like a neat conspiracy and more like an ecosystem:
- Wealthy men fund “edgy” work on genes, brains, and behavior.
- Some of that work revives old racist ideas with new data and jargon.
- Those studies get scraped, indexed, and sometimes amplified by AI systems.
- The same platforms host and boost music, video, and news — making decisions shaped by engagement patterns built on biased narratives.
The algorithm deciding what you see next is standing downstream from all of this.
The Celebrity as Smoke Screen
Epstein’s contact lists are full of directors, actors, musicians, authors, and public intellectuals. Many now insist they had no idea what he was doing. Some probably didn’t; others clearly chose not to ask. From Epstein’s perspective, the value of those relationships is obvious.
Being seen in orbit around beloved artists and cultural figures created a reputational firewall. If the public repeatedly saw him photographed with geniuses, Oscar winners, and hit‑makers, their brains filed him under “eccentric patron” rather than “dangerous predator.”
That softens the landing for his ideas, too. Race science sounds less toxic when it’s discussed over dinner at a university‑backed salon or exchanged in emails with a famous thinker.
The more oxygen is spent on the celebrity angle — who flew on which plane, who sat at which dinner — the less attention is left for what may matter more in the long run: the way his money and ideology were welcomed by institutions that shape culture and knowledge.

What to Love, Who to Fear
The point is not to claim that Jeffrey Epstein was secretly programming your TikTok feed or hand‑picking your favorite rapper. The deeper question is what happens when a man with his worldview is allowed to invest in the people and institutions that decide:
- Which artists are “marketable.”
- Which scientific questions are “important.”
- Which studies are “serious” enough to train our machines on.
- Which faces and stories are framed as aspirational — and which as dangerous.
If your media diet feels saturated with certain kinds of Black representation — hyper‑visible in music and sports, under‑represented in positions of uncontested authority — while “objective” science quietly debates Black intelligence, that’s not random drift. It’s the outcome of centuries of narrative work that men like Epstein bought into and helped sustain.
No one can draw a straight, provable line from his bank account to a specific song or recommendation. But the lines he did draw — to elite agencies, to brain and music research, to race‑obsessed science networks — are enough to show this: his money was not only paying for crimes in private. It was also buying him a seat at the tables where culture and knowledge are made, where the stories about who to love and who to fear get quietly agreed upon.

A Challenge to Filmmakers and Creatives
For anyone making culture inside this system, that’s the uncomfortable part: this isn’t just a story about “them.” It’s also a story about you.
Filmmakers, showrunners, musicians, actors, and writers all sit at points where money, narrative, and visibility intersect. You rarely control where the capital ultimately comes from, but you do control what you validate, what you reproduce, and what you challenge.
Questions worth carrying into every room:
- Whose gaze are you serving when you pitch, cast, and cut?
- Which Black characters are being centered — and are they full humans or familiar stereotypes made safe for gatekeepers?
- When someone says a project is “too political,” “too niche,” or “bad for the algorithm,” whose comfort is really being protected?
- Are you treating “the industry” as a neutral force, or as a set of human choices you can push against?
If wealth like Epstein’s can quietly seep into agencies, labs, and institutions that decide what gets made and amplified, then the stories you choose to tell — and refuse to tell — become one of the few levers of resistance inside that machine. You may not control every funding source, but you can decide whether your work reinforces a world where Black people are data points and aesthetics, or one where they are subjects, authors, and owners.
The industry will always have its “gatekeepers.” The open question is whether creatives accept that role as fixed, or start behaving like counter‑programmers: naming the patterns, refusing easy archetypes, and building alternative pathways, platforms, and partnerships wherever possible. In a landscape where money has long been used to decide what to love and who to fear, your choices about whose stories get light are not just artistic decisions. They are acts of power.
Business
New DOJ Files Reveal Naomi Campbell’s Deep Ties to Jeffrey Epstein

In early 2026, the global conversation surrounding the “Epstein files” has reached a fever pitch as the Department of Justice continues to un-redact millions of pages of internal records. Among the most explosive revelations are detailed email exchanges between Ghislaine Maxwell and Jeffrey Epstein that directly name supermodel Naomi Campbell. While Campbell has long maintained she was a peripheral figure in Epstein’s world, the latest documents—including an explicit message where Maxwell allegedly offered “two playmates” for the model—have forced a national re-evaluation of her proximity to the criminal enterprise.

The Logistics of a High-Fashion Connection
The declassified files provide a rare look into the operational relationship between the supermodel and the financier. Flight logs and internal staff emails from as late as 2016 show that Campbell’s travel was frequently subsidized by Epstein’s private fleet. In one exchange, Epstein’s assistants discussed the urgency of her travel requests, noting she had “no backup plan” and was reliant on his jet to reach international events.

This level of logistical coordination suggests a relationship built on significant mutual favors, contrasting with Campbell’s previous descriptions of him as just another face in the crowd.
In Her Own Words: The “Sickened” Response
Campbell has not remained silent as these files have surfaced, though her defense has been consistent for years. In a widely cited 2019 video response that has been recirculated amid the 2026 leaks, she stated, “What he’s done is indefensible. I’m as sickened as everyone else is by it.” When confronted with photos of herself at parties alongside Epstein and Maxwell, she has argued against the concept of “guilt by association,” telling the press:
She has further emphasized her stance by aligning herself with those Epstein harmed, stating,
“I stand with the victims. I’m not a person who wants to see anyone abused, and I never have been.””

The Mystery of the “Two Playmates”
The most damaging piece of evidence in the recent 2026 release is an email where Maxwell reportedly tells Epstein she has “two playmates” ready for Campbell.
While the context of this “offer” remains a subject of intense debate—with some investigators suggesting it refers to the procurement of young women for social or sexual purposes—Campbell’s legal team has historically dismissed such claims as speculative. However, for a public already wary of elite power brokers, the specific wording used in these private DOJ records has created a “stop-the-scroll” moment that is proving difficult for the fashion icon to move past.
A Reputation at a Crossroads
As a trailblazer in the fashion industry, Campbell is now navigating a period where her professional achievements are being weighed against her presence in some of history’s most notorious social circles. The 2026 files don’t just name her; they place her within a broader system where modeling agents and scouts allegedly groomed young women under the guise of high-fashion opportunities. Whether these records prove a deeper complicity or simply illustrate the unavoidable overlap of the 1% remains the central question of the ongoing DOJ investigation.
Business
Google Accused Of Favoring White, Asian Staff As It Reaches $28 Million Deal That Excludes Black Workers

Google has tentatively agreed to a $28 million settlement in a California class‑action lawsuit alleging that white and Asian employees were routinely paid more and placed on faster career tracks than colleagues from other racial and ethnic backgrounds.
- A Santa Clara County Superior Court judge has granted preliminary approval, calling the deal “fair” and noting that it could cover more than 6,600 current and former Google workers employed in the state between 2018 and 2024.

How The Discrimination Claims Emerged
The lawsuit was brought by former Google employee Ana Cantu, who identifies as Mexican and racially Indigenous and worked in people operations and cloud departments for about seven years. Cantu alleges that despite strong performance, she remained stuck at the same level while white and Asian colleagues doing similar work received higher pay, higher “levels,” and more frequent promotions.
Cantu’s complaint claims that Latino, Indigenous, Native American, Native Hawaiian, Pacific Islander, and Alaska Native employees were systematically underpaid compared with white and Asian coworkers performing substantially similar roles. The suit also says employees who raised concerns about pay and leveling saw raises and promotions withheld, reinforcing what plaintiffs describe as a two‑tiered system inside the company.
Why Black Employees Were Left Out
Cantu’s legal team ultimately agreed to narrow the class to employees whose race and ethnicity were “most closely aligned” with hers, a condition that cleared the path to the current settlement.

The judge noted that Black employees were explicitly excluded from the settlement class after negotiations, meaning they will not share in the $28 million payout even though they were named in earlier versions of the case. Separate litigation on behalf of Black Google employees alleging racial bias in pay and promotions remains pending, leaving their claims to be resolved in a different forum.
What The Settlement Provides
Of the $28 million total, about $20.4 million is expected to be distributed to eligible class members after legal fees and penalties are deducted. Eligible workers include those in California who self‑identified as Hispanic, Latinx, Indigenous, Native American, American Indian, Native Hawaiian, Pacific Islander, and/or Alaska Native during the covered period.
Beyond cash payments, Google has also agreed to take steps aimed at addressing the alleged disparities, including reviewing pay and leveling practices for racial and ethnic gaps. The settlement still needs final court approval at a hearing scheduled for later this year, and affected employees will have a chance to opt out or object before any money is distributed.
H2: Google’s Response And The Broader Stakes
A Google spokesperson has said the company disputes the allegations but chose to settle in order to move forward, while reiterating its public commitment to fair pay, hiring, and advancement for all employees. The company has emphasized ongoing internal audits and equity initiatives, though plaintiffs argue those efforts did not prevent or correct the disparities outlined in the lawsuit.
For many observers, the exclusion of Black workers from the settlement highlights the legal and strategic complexities of class‑action discrimination cases, especially in large, diverse workplaces. The outcome of the remaining lawsuit brought on behalf of Black employees, alongside this $28 million deal, will help define how one of the world’s most powerful tech companies is held accountable for alleged racial inequities in pay and promotion.
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