Consumer price inflation reached 4.2% in May, the highest mark in three years, boosted largely by higher energy prices that have spiked because of the Iran war. (Photo by Niki Kelly/Indiana Capital Chronicle) Consumer price inflation reached 4.2% in May, the highest mark in three years, boosted largely by higher energy prices that have spiked because of the Iran war, according to federal numbers released on Wednesday. The higher year-over-year inflation rate was expected. But at more than double the Federal Reserve’s target rate of 2%, the new numbers dimmed hopes for a cut in the interest rate. The so-called core inflation rate, which excludes volatile food and fuel costs, was 2.9%. Apparel costs were up 4.8% and the cost of transportation services increased by 4.1%. Even before today’s report, the conservative-leaning American Enterprise Institute said that “Trump’s war of choice in Iran, coupled with his reckless budget and import tariff policies, offer strong arguments against ...
On June 10, 2026, President Donald Trump signed into law a bill providing $70 billion for immigration enforcement and detention activites over the next three years. In this photo, a U.S. Immigration and Customs Enforcement agent watches a crowd of protesters at Delaney Hall in Newark, N.J., on May 25, 2026. (Photo by Ben Ackman/New Jersey Monitor) WASHINGTON — President Donald Trump significantly bolstered funding for immigration enforcement Wednesday when he signed into law a nearly $70 billion package that will keep key federal agencies operating without any new restrictions. Democrats pressed for guardrails after immigration officers shot and killed two U.S. citizens in Minneapolis in January. But when talks broke down, Republican lawmakers drafted their own bill without any additional constraints. “The bill provides crucial funding for domestic law enforcement investigations and combating child exploitation, continuing our work to restore law and order across our nation, a...