Inflation fell markedly in January, according to latest data

Noel Hendrickson/Getty Images

(NEW YORK) — Consumer prices rose 3.1% in January compared to a year ago, slowing markedly from the previous month but missing expectations of an even larger cooldown, a report from the Bureau of Labor Statistics released on Tuesday showed.

Still, the falling inflation offered welcome news for the Federal Reserve as it weighs interest rate cuts.

Core inflation — a closely watched measure that strips out volatile food and energy prices — increased 3.9% over the year ending in January, matching the cooldown from the prior month.

The report from the U.S. Bureau of Labor Statistics follows a slight acceleration of price increases in December.

That jump in inflation had complicated the Federal Reserve’s plans to deescalate its inflation fight with a series of interest rate cuts this year.

Fewer than two weeks ago, the central bank decided to leave interest rates unchanged, opting to observe further economic performance before reversing a near-historic series of rate increases that began last year.

The slowdown of inflation in January amounts to a positive sign for the Fed ahead of its next rate decision in March.

Inflation has fallen dramatically from a peak last year, but it remains nearly a percentage point above the Fed’s target.

The U.S. economy has largely defied the central bank’s efforts to slow the economy by raising borrowing costs for households and businesses.

The economy far exceeded expectations by adding 353,000 jobs last month while holding the unemployment rate steady at 3.7%, a historically low figure, according to data released by the U.S. Bureau of Labor Statistics earlier this month.

Gross domestic product performed much better than expected at the end of last year, a report this month showed, while consumer sentiment soared in January.

The blockbuster performance, however, could pose a challenge for the inflation fight taken up by policymakers at the Federal Reserve.

The Fed risks a rebound of inflation if it cuts interest rates too quickly, since stronger consumer demand could lead to an acceleration of price increases.

Speaking in Washington, D.C., late last month, Fed Chair Jerome Powell celebrated the steady decline of inflation over recent months and welcomed the robust hiring occurring alongside it. However, he cautioned about the risks posed by an economy that runs too hot.

“We’re not looking for a weaker labor market,” Powell said. “We’re looking for inflation to continue to come down, as it has been coming down for the last six months.”

“We’re not declaring victory at this point,” he later added. “We think we have a ways to go.”

Copyright © 2024, ABC Audio. All rights reserved.

In Brief: New Karate Kid cast, Adam Sandler’s new Netflix film, and more

Ben Wang, best known for his role in the Disney+ series American Born Chinese, has been tapped to star as the new Karate Kid in the latest installment of the beloved franchise, according to The Hollywood Reporter. He’ll join Jackie Chan and Ralph Macchio reprising their characters from previous Karate Kid films. The new film will take place on the East Coast and follow “a teen from China who finds strength and direction via martial arts and a tough but wise mentor (or maybe even two),” per the outlet. The original movie, starring Macchio and the late Pat Morita, spawned three sequels, as well as the Netflix series Cobra Kai. A 2010 revival starred Chan and Jaden Smith. The films have earned over $618 million globally, while the series has earned several Emmy nominations …

Adam Sandler is working on a new Netflix comedy special, directed by Josh Safdie, according to Variety. The yet-to-be-titled project is the latest in a long string of projects for the streaming service — including Leo, You Are So Not Invited to My Bat Mitzvah and Hustle — and his second special, following 2018’s 100% Fresh. Safdie is also known for co-directing films with his brother Ben, including Daddy Longlegs and Good Time

Netflix has dropped the first trailer for Scoop, a dramatization of Prince Andrew‘s infamous BBC Newsnight interview with Emily Maitlis in which he was grilled about his relationship with disgraced millionaire Jeffrey Epstein and allegations he had sex with Virginia Roberts — now Virginia Giuffre — when she was 17. Gillian Anderson and Rufus Sewell play Maitlis and Prince Andrew, respectively. Scoop drops April 5 …

Copyright © 2024, ABC Audio. All rights reserved.

Forgetting dates doesn’t mean President Biden’s decision-making or cognitive fitness is failing: Doctors

Official White House Photo by Adam Schultz

(NEW YORK) — In a special council report released last week, President Joe Biden was described as an “elderly man with a poor memory,” but doctors say it’s impossible to use isolated examples to diagnose a memory problem, as memories can be impacted by more than aging, and memories don’t solely determine a person’s cognitive fitness.

The president has a team of medical professionals from a number of subspecialties including neurology who evaluated him last year and deemed him “fit to successfully execute the duties of the Presidency.”

“There are different variables that have to be taken into account when you try and understand whether a slip up is worrisome or not,” Dr. Leah Croll, board-certified neurologist, and assistant professor of neurology at Temple University, told ABC News.

This report has since sparked criticism of Biden’s memory, to which Biden has responded in an interview that, “my memory is fine.” Adding that the most recent interviews with the special council were also in the immediate aftermath of the Oct. 7 Hamas terror attack in Israel when Biden said he was “in the middle of handling an international crisis.”

ABC News spoke to several doctors in the field of medicine, neurology and psychiatry to understand how memory, aging and executive functioning relate, and they all agree that simply forgetting dates or timelines in the past does not imply anything specific about a person’s level of cognitive fitness, decision-making, judgement or executive functioning.

Doctors say a number of factors influence memory, independent of aging

“There are so many different factors that affect how well your memory and cognition are working in any given moment,” Croll said.

These include things like stress, sleep, hunger, multi-tasking and situational circumstances that can act against someone’s memory, independent of their age.

“When we think about how someone’s memory and cognition function in any given moment, the reality is that they don’t function at a constant level,” Croll said. “They’re always changing and fluctuating depending on what factors or variables are on board at that time.”

Dr. Louise Aronson, board-certified geriatrician, and professor of medicine at UCSF, told ABC News that internal processing functions like recalling specific memories naturally decline to an extent with age but can also be impaired by high-pressure situations.

Dr. Yalda Safai, a board-certified psychiatrist, told ABC News that memory lapses are different that memory problems and even in cases where memory problems exist, this cannot be used alone to determine cognitive fitness.

“Just because somebody has problems remembering things from the past, it doesn’t mean they don’t have the ability to make good decisions or it doesn’t mean that their executive function is impaired with aging,” Safai said.

Memory and cognitive evaluation require more extensive assessments

Doctors say isolated examples of memory lapses can’t replace more in-depth assessments of memory and cognitive functioning, and it’s more than just one assessment at one point in time and there is no one test to determine if a person is fit to hold office.

“If we could [just use isolated examples] we wouldn’t need the detailed neurocognitive testing,” Aronson said.

These assessments are extensive, may take multiple visits to fully complete and require a detailed history to fully understand and assess someone’s level of function.

Dr. Richard Isaacson, a preventive neurologist at the Institute of Neurodegenerative Diseases Florida, told ABC News, “it’s impossible to accurately judge whether a brain change may be due to the normal aging process versus compared to a neurodegenerative disease or just due to a disease without a formal evaluation, examination, cognitive assessments, and when needed, brain imaging.”

In these assessments, doctors are evaluating for any warning signs that show patterns of behavior or memory lapses that prevent them from carrying out their daily responsibilities.

“Things like being unable to do your finances and stay on top of your monthly bills or consistently having a pattern of memory problems that pose safety concerns,” Croll said.

Doctors say there are some cognitive benefits of aging

“When people are younger, [in their] 20s and 30s, they often have worse impulse control and ability to integrate information,” Aronson said.

Doctors say as people age, impulse control tends to improve, and they may better integrate more information into their decision-making.

“As we age, there are aspects of cognitive function, specifically related to judgment and wisdom that actually improve over time. And you know, when a person is seasoned and has experience dealing with complex problems, that experience may come in handy when either dealing under pressure or having to make a decision,” Isaacson said.

“These [traits] can manifest as having a better handle on your reactions to various situations and being able to think before you act which can be extremely useful as we get older,” Croll said. “Having wisdom from many lived experiences, of course, is another form of knowledge and cognitive fitness.”

Copyright © 2024, ABC Audio. All rights reserved.

Patrick Mahomes expects to celebrate a fourth Super Bowl win at Disney World next season

ABC News

(NEW YORK) — Kansas City Chiefs quarterback Patrick Mahomes knows what it takes to win a Super Bowl.

The 28-year-old notched his third Super Bowl victory in seven seasons on Sunday in a thrilling 25-22 overtime win against the San Francisco 49ers — the second team in NFL history to win in overtime since the New England Patriots defeated the Atlanta Falcons in Super Bowl LI.

With the three-time Super Bowl MVP on pace to rewrite the NFL record books, Mahomes took a moment to reflect on the win, his team and his future with ABC News’ Good Morning America.

“Obviously we’ve had a great start, a great run. And we’ve done a lot of great things, but we’ve still got a long ways to go,” Mahomes told ABC News’ Will Reeve at Disneyland. “If I can have the mindset to continue to get better every single day when I’m done playing, people will be able to put whatever title they want to put on me.”

He went on, “You have to compete with yourself — that’s the first person you compete with every single day, trying to be the best person, to be the best player that you can be, be the best teammate, the best father.”

Mahomes, feted as a hero after taking home the Super Bowl title last year, told GMA in a 2023 interview from Disneyland that he would be back in the same spot at the end of this season.

“I’m gonna try to try to do whatever I can to work my tail off to win another Super Bowl and then we’ll meet again,” Mahomes told Reeve at the time, rightly predicting his present situation.

But the back-to-back Super Bowl wins didn’t come easily at Allegiant Stadium in Las Vegas. Mahomes stayed in the driver’s seat for all 74 minutes and 57 seconds of the game — the longest Super Bowl ever.

“We prepare for those moments,” he said, referring to the plays in overtime. “The only time I felt like I was a little nervous was maybe that fourth down play — we’re about to go out there and get it, but at the same time you just go back to your fundamentals.”

Passing to wide receiver Mecole Hardman Jr. for the winning touchdown, Mahomes led Kansas City to their Super Bowl 58 title.

“It’s almost all emotion — I was just running and then I didn’t know where to go. So I had to lay down somewhere and I did some type of tumble on the ground. And it’s a moment that I’ll never forget,” Mahomes said of the scene immediately after.

He added, “Winning the Super Bowl in Vegas — it was going to be a long night, but we’re at Disneyland now and we’re enjoying every bit of it.”

His teammate, tight end Travis Kelce, who recorded nine receptions for 93 yards on Sunday, enjoyed the post-game celebrations alongside girlfriend Taylor Swift, his brother and Eagles center Jason Kelce.

“Those two brothers, man. They’re the life of the party wherever they go,” Mahomes said. “Travis Kelce’s had a great, great couple years, I’ll say that.”

And Mahomes is ready as ever to keep the fairy tale streak alive with his sights already set on a meeting at Disney World this time next year.

“We have the Super Bowl in New Orleans, a little flight over, let’s do it,” he said with a smile.

Mahomes, who was selected 10th overall by the Kansas City Chiefs in the 2017 draft, finished 34 of 46 for 333 yards and two touchdowns in this Super Bowl appearance.

Copyright © 2024, ABC Audio. All rights reserved.

“I want to see the world”: Katy Perry says she’s leaving ‘American Idol’ after this season

Disney/Art Streiber

Katy Perry has been teasing a new album and a possible tour, and now it appears that she’s clearing her schedule in advance of a full-fledged return to her music career.  In other words, bye-bye, American Idol.

Appearing on ABC’s Jimmy Kimmel Live! on Monday night, Katy said, “I think this probably will be my last season [for American Idol]. I love Idol so much, it’s connected me with the heart of America. But I feel like I need to go out to feel that pulse of my own beat, y’know what I’m saying, Jimmy?”

Asked what her co-judges Luke Bryan and Lionel Richie have to say about her decision, Katy laughed, “Well, they’ll find out tonight!”  When Jimmy asked, “Do they really not know?” she admitted, “Well, they know I have some things planned for this year. It’s going to be a very, very exciting year.”

“I’ve been in the studio for a while so they figured something was up,” she said of Luke and Lionel.

Katy noted that the new season of Idol, which starts on February 18 on ABC, will be the seventh season that she, Lionel and Luke have done the show. That matches the run of the show’s three original judges: Simon Cowell, Paula Abdul and Randy Jackson.

“I love the show so much but I want to see the world and maybe bring new music,” she teased. “Maybe I’ll come back if they have me one day!”

Copyright © 2024, ABC Audio. All rights reserved.

Jimmy Eat World hints at 25th anniversary ’Clarity’ plans: “Stay tuned”

Capitol Records

The 25th anniversary of Jimmy Eat World‘s 1999 album Clarity is coming up, and “The Middle” outfit is hinting at plans to celebrate.

In a Facebook post, the band writes, “Clarity is turning 25…stay tuned for more to come!”

Clarity was the third Jimmy Eat World album and is considered by some among the most influential releases of the ’90s emo scene. The group followed Clarity with their mainstream breakout album, 2001’s Bleed American, which spawned the hit “The Middle.”

Meanwhile, Jimmy Eat World is prepping to hit the road with Fall Out Boy. The trek kicks off February 28 in Portland.

Jimmy Eat World will also be playing the 2024 When We Were Young festival in October, during which they’re performing Bleed American in full.

Copyright © 2024, ABC Audio. All rights reserved.

What is Temu, the company made famous in Super Bowl ads?

Jakub Porzycki/NurPhoto via Getty Images

(NEW YORK) — Super Bowl viewers could hardly miss an ad blitz from e-commerce company Temu promising low prices that allow customers to “shop like a billionaire.”

The company’s app vaulted to second place among the most downloaded free apps on Apple devices, Apple rankings showed Monday.

The platform sells competitively priced versions of everything from sneakers to jewelry to drones. However, Temu has faced concerns of customer dissatisfaction, data risks and lax oversight over the potential use of forced labor in its supply chain.

Temu did not immediately respond to ABC News’ request for comment.

On its website, the company says it “cares deeply” about data privacy. “Temu does not ‘sell’ personal information in the traditional sense,” the company adds, acknowledging that it does share some data with third parties to improve service.

In a statement to Time in 2022 about its operations, the company said its low prices are made possible by a “deep network of merchants, logistic partners and [Pinduoduo’s] established ecosystem built over the years.”

Temu is a United States-based offshoot of Chinese e-commerce giant Pinduoduo, which boasts one of that country’s most popular apps, selling a wide range of products to more than 750 million users each month, according to a 2022 earnings report.

Launched in 2022, Temu mimics the business model of its sister company, offering just about everything at discounted prices. Even more, customers earn store credit for promoting the company on social media or playing games hosted on its website.

A four-pack of “Oprah-style reading glasses” costs $13.97; a men’s collared shirt bearing the American flag runs $8.90; and a pair of hook earrings costs $3.14, according to the company’s website.

Since many of Temu’s suppliers operate overseas, the company offers standard shipping times of up to 23 days, Temu says on its website. Express shipping, which costs an extra $12.90, promises delivery within 12 days.

Since local carriers may handle a portion of the delivery process, customer tracking may not be available for every step of the shipping period, Temu says.

The Better Business Bureau slapped Temu with a C+ rating, noting 1,625 customer complaints closed in the past 12 months.

Since Temu is privately owned, the company does not regularly disclose details about performance, such as its scale and revenue.

The company ships tens of millions of packages to the U.S. each year from roughly 80,000 sellers who list products on its website, according to a report in June 2023 from the U.S. House Select Committee on the Chinese Communist Party.

The House report also raised concerns about the potential use of forced labor in the company’s supply chain.

Temu’s delivery network includes more than 80,000 suppliers, the report found. The company told House investigators it does not explicitly prohibit sellers on the platform from using suppliers based on their origin in the Xinjiang Autonomous Region, an area known for the exploitation of Muslim-minority Uyghurs in forced labor.

“American consumers should know that there is an extremely high risk that Temu’s supply chains are contaminated with forced labor,” the report said.

Copyright © 2024, ABC Audio. All rights reserved.

Winter storm live updates: Fast-moving storm to slam Northeast on Tuesday

ABC News

(NEW YORK) — A major winter snowstorm is hitting the northeastern United States on Tuesday and could wreak havoc on roadways from New York City to Boston.

The fast-moving storm is expected to last only from Tuesday morning to Tuesday afternoon, but it could bring up to 1 foot of snow to parts of the Northeast.

Here’s how the news is developing:

Feb 13, 7:12 AM
Over 1,000 flights canceled

More than 1,000 flights have been canceled Tuesday, with airports in New York City and Boston hit the hardest.

Feb 13, 5:52 AM
50 million Americans on alert for heavy snow

Some 50 million Americans are on alert for heavy snow in the northeastern United States on Tuesday, as a storm is forecast to hit the region in the morning hours before exiting by the afternoon.

It’s the first time in two years that the National Weather Service has issued a winter storm warning for New York City.

Rain began changing to snow early Tuesday and much of New York City was already under snow by 5 a.m. ET. The freezing line hadn’t quite made it to Philadelphia at that time but was expected to soon.

Since this is a wet snow falling into temperatures that are generally at or above freezing, the initial accumulation on the ground will melt before it starts to stick.

Snowfall rates are expected to be moderate, from 1 to 2 inches per hour, with heavier bands mixed in at times.

Winds are forecast to gust 20 to 40 miles per hour, blowing the snow and reducing visibility. However, due to the wet nature of the snow, blizzard-like conditions were generally not expected and should only be short-lived if they occur at all.

Coastal flooding was also expected to be an issue from Washington, D.C., to Delaware to New Jersey and Long Island and then from Cape Cod to Boston and Portland.

Feb 13, 4:00 AM
New York City, Boston close schools

New York City’s public schools, the largest system in the country, will be closed Tuesday, with classes moving to remote learning, Mayor Eric Adams announced.

This marks the first time in two years that New York City has been under a winter storm watch.

Boston Public Schools will also be closed Tuesday.

Copyright © 2024, ABC Audio. All rights reserved.

Senate passes aid bill for Israel, Taiwan, Ukraine

Michael Godek/Getty Images

(WASHINGTON) — A bipartisan group of U.S. senators has passed a $95 billion foreign aid bill for Israel, Taiwan and Ukraine, setting up a showdown in the House of Representatives where Republican leaders have resisted such legislation.

The Senate voted 70-29 to approve the bill early Tuesday, with 22 Republican senators supporting the final passage. Senate Majority Leader Chuck Schumer, D-N.Y., praised the upper chamber of Congress for approving “one of the most historic and consequential bills to have ever passed the Senate.”

“These past few months have been a great test for the U.S. Senate, to see if we could escape the centrifugal pull of partisanship and summon the will to defend Western Democracy when it mattered most,” Schumer said in brief remarks on the floor of the Senate in Washington, D.C. “This morning, the Senate has resoundingly passed the test.”

Senate Minority Leader Mitch McConnell, R-Ky., who voted alongside 21 of his GOP colleagues to advance the bill, issued a statement praising the passage as an affirmation “reaffirming a commitment to rebuild and modernize our military, restore our credibility, and give the current Commander-in-Chief, as well as the next, more tools to secure our interest.”

“History settles every account,” McConnell added. “And today, on the value of American leadership and strength, history will record that the Senate did not blink.”

The successful vote in the Senate follows months of wrangling over if and how to approve more overseas funding, with conservatives initially saying U.S. President Joe Biden’s request for that money had to be tied to an overhaul of border and immigration policy.

However, a deal in the Senate that was negotiated between Democrats and Republicans to seriously tighten border security along with the new aid was quickly criticized by some in the GOP as insufficient and weakened by loopholes. Instead, the Senate then moved forward with the current legislation, which removed the immigration provisions.

It’s unclear what fate the bill will face in the lower chamber of Congress, which recently tried and failed to pass stand-alone legislation just to send aid to Israel in its war against Hamas, the Palestinian militant group that rules the neighboring Gaza Strip. House Speaker Mike Johnson, R-La., has suggested the Senate proposal is not likely to get a vote or even be brought up for debate in his chamber.

Copyright © 2024, ABC Audio. All rights reserved.

House Republicans, with Scalise returning, to try again to impeach Mayorkas

Homeland Security Secretary Alejandro Mayorkas speaks about security during a news conference ahead of Super Bowl LVIII at Allegiant Stadium in Las Vegas, Nevada on Feb. 7, 2024. (Patrick T. Fallon/AFP via Getty Images)

(WASHINGTON) — House Majority Leader Steve Scalise plans to return to Capitol Hill this week in time to help his fellow Republicans try again on Tuesday to impeach Homeland Security Secretary Alejandro Mayorkas — after an embarrassing failed vote last week to impeach him over what they say is his failure to enforce the law on the southern border.

Scalise, who was undergoing treatment for blood cancer, was absent from last week’s vote to impeach Mayorkas — one of the reasons the GOP-led effort failed.

Scalise’s office said in a statement Thursday that he “successfully completed his autologous stem cell treatment and has been medically cleared to resume travel.” The Louisiana Republican is in “complete remission,” the statement said — clearing the way for Scalise to vote with the fellow Republicans to impeach Mayorkas, a historic move.

With Scalise, Republicans could finally have the votes they need to impeach Mayorkas, whom they accuse of “willful and systemic refusal to comply with the law” and “breach of public trust” amid a surge in unauthorized migrant crossings, according to the articles of impeachment. The vote failed last week with a final tally of 214-216 — a crushing defeat for House Republicans.

The impeachment vote is scheduled for Tuesday night, but could change if member attendance is poor.

If the vote is put off, another potential curveball could come with Tuesday’s special election to fill the vacancy left by former Rep. George Santos, R-N.Y., in New York’s 3rd Congressional District.

If former Rep. Tom. Suozzi, D-N.Y., prevails over Republican Mazi Pilip for the seat and is sworn in before a second impeachment vote, the impeachment effort is likely to fail again, provided all lawmakers are present and vote the same as last week.

Last week, Republican Rep. Ken Buck of Colorado voted against Mayorkas’ impeachment, telling ABC News’ Jay O’Brien that the secretary had “not committed a high crime or misdemeanor.”

“There is a policy difference,” he said.

Buck was joined by fellow GOP defectors Reps Tom McClintock and Mike Gallagher, who announced over the weekend he won’t run for re-election. They are still expected to vote against impeaching Mayorkas.

If the vote succeeds, it would mark just the second time in U.S. history a Cabinet official has been impeached. The issue would then have to go to trial in the Democrat-controlled Senate, where a two-thirds majority vote would be needed to convict.

On NBC’s Meet the Press on Sunday, Mayorkas repeated that the Republicans’ allegations to impeach him are “baseless.” He said the flood of migrants has been a problem for years and that legislative action is needed to fix the system.

“The system has not been fixed for 30 years. A bipartisan group of senators have now presented us with the tools and resources we need — bipartisan group — and yet, Congress killed it before even reading it,” Mayorkas said.

This past December, there were 302,000 encounters along the southwest border — the highest monthly total ever recorded.

Moderator Kristen Welker pressed Mayorkas on whether he bears the responsibility for the flood of migrants crossing the border — something President Joe Biden called a “crisis.”

“It certainly is a crisis, and, well, we don’t bear responsibility for a broken system, and we’re doing a tremendous amount within that broken system. But, fundamentally, fundamentally, Congress is the only one who can fix that,” Mayorkas said.

Last week, the Senate’s vote to advance a bipartisan foreign aid bill with major border provisions failed — a blow to the Senate negotiators who worked for months with Mayorkas to develop the border deal.

Copyright © 2024, ABC Audio. All rights reserved.