New White House Press Secretary Karoline Leavitt urged members of Congress to confirm Trump's nominees to address problems like the U.S. egg shortage and the cost of living crisis.

U.S. stocks ended lower on Friday, with indexes losing ground after the White House said U.S. President Donald Trump will implement on Saturday tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods.

The personal consumption expenditures (PCE) price index rose 0.3 per cent last month after an unrevised 0.1 per cent gain in November, the Commerce Department's Bureau of Economic Analysis said on Friday.

Survey finds tariffs, tax cuts and immigration policy could weigh on price outlook for next two years.

Despite the 2024 campaign rhetoric, Joe Biden is leaving Donald Trump a healthy economy that may be better off left alone.

Trump will probably seek to ease inflation and lower prices by drilling for more oil, loosening regulations, reducing federal spending, experts say.

The Republican has promised strong growth, high tariffs, income tax cuts and booming oilfields. But despite the solid job market and low 4.1% unemployment rate, he has to contend with headwinds like inflation, a budget deficit, increased tensions over trade, the fallout from his plans to curtail immigration and a persistent wealth gap.

The Bureau of Economic Analysis said Friday that personal consumption expenditures rose 2.6% in December, in line with expectations. Core PCE, omitting food and energy, was 2.8%.

Trump is banking on voters giving him a pass and continuing to blame former President Joe Biden for high prices.

LONDON (Reuters) - Investors are snapping up crude oil futures as a hedge against the risk that U.S. President Donald Trump's threatened trade tariffs will cause a resurgence in global inflation, adding momentum to a recent rally in oil prices sparked by a tightening of sanctions on Russia.

Gold price is battling $2,800, sitting at its highest level on record early Friday. Renewed US Dollar selling and US President Donald Trump’s tariff threats help keep Gold price afloat ahead of the US core Personal Consumption Expenditures (PCE) Price Index release.

U.S. prices increased in December while consumer spending surged, suggesting that the Federal Reserve could delay cutting interest rates for some time this year.