U.S. Inflation Rate Hits 3-Year Low as Fed Prepares Rate Cut [Video]

In May of 2024, Emory Conrad graduated high school, and quickly saw an opportunity to be an entrepreneur.

Boston Mayor Michelle Wu has a busy year ahead. She's due to give birth to her third child in January and then will face a reelection campaign."I am running," Wu announced during an interview for Sunday's episode of "On The Record."She said a formal launch of her reelection campaign will come later "at the right moment."Wu, 39, was first elected to the Boston City Council in November 2013, becoming the first Asian American woman to serve on the council. She was unanimously chosen by her colleagues to serve as president of City Council in January 2016, becoming the first woman of color to serve as council president a role she held for two years.The Harvard College and Harvard Law School graduate was elected mayor in November 2021 and took the oath of office a few days later, instead of the usual transition in January, because she was replacing an interim mayor. Wu is no stranger to serving in public office as a new mother. Both of her sons were born while she was on the City Council. Wu told OTR that she is preparing to work from home more after the birth of her baby girl."I look forward to having the baby, resting for a little bit and then getting right back out there," she said.In the wake of an election dominated by Republican victories on the national scale, Wu leads a left-leaning city in a deep blue state. "This is a consequential time. I feel so lucky and grateful every day to live in a city where people are always ready to roll up their sleeves and get to work," she said. "We have a lot more work to do."At this early stage, the slate of candidates who may be seeking the mayor's office in 2025 is unclear. "The big question in this race, now that we know the mayor's in it because she said it here, is: Do (Councilor) Ed Flynn and Josh Kraft have the courage to get into this race against her?" Republican political analyst Rob Gray said.Democratic political analyst Mary Anne Marsh pointed to dominant election wins in Boston for Vice President Kamala Harris, Sen. Elizabeth Warren and Rep. Stephen Lynch as signs that the progressive incumbent is likely to fare well against those potential challengers. "If either one of them, who are more conservative than Michelle, I mean, the numbers I just cited show there's not appetite for that in Boston," Marsh said.Wu said she would welcome other candidates."This is a job that is, I would say, the best job in the world. And it's not an easy one," Wu said. "I've run now, five, six citywide campaigns, been involved in city issues for well over a decade. And I welcome anyone who wants to contribute to the conversation."

Officials at the Federal Reserve have been noncommittal publicly about what a Trump presidency means for the economy. Behind the scenes, they may already be discussing what the second Trump era will look like.

President-elect Donald Trump on Tuesday said Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new Department of Government Efficiency" which is not, despite the name, a government agency.The acronym DOGE is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House advice and guidance and will partner with the Office of Management and Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before. He added that the move would shock government systems.It's not clear how the organization will operate. It could come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.Federal employees are generally required to disclose their assets and entanglements to ward off any potential conflicts of interest, and to divest significant holdings relating to their work. Because Musk and Ramaswamy would not be formal federal workers, they would not face those requirements or ethical limitations.Musk posted on X: Department of Government Efficiency. The merch will be (fire emojis). Later he added: Threat to democracy? Nope, threat to BUREAUCRACY!!!Musk has been a constant presence at Mar-a-Lago since Trump won the presidential election.The president-elect has often said he would give Musk a formal role overseeing a group akin to a blue-ribbon commission that would recommend ways to slash spending and make the federal government more efficient. Musk at one point suggested he could find more than $2 trillion in savings nearly a third of total annual government spending.Trump had made clear that Musk would likely not hold any kind of full-time position, given his other commitments.I dont think I can get him full-time because hes a little bit busy sending rockets up and all the things he does, Trump said at a rally in Michigan in September. He said the waste in this country is crazy. And were going to get Elon Musk to be our cost cutter.Ramaswamy suspended his campaign in January and threw his support behind Trump.Trump said in his statement the two will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."