Inflation in the United States cooled in January, according to the Department of Labor, with the consumer price index rising by 2.4% over the 12 months, the slowest pace since May, according to BBC Business. Simultaneously, the US government ended Temporary Protected Status (TPS) for over 1,000 Yemeni refugees and asylum seekers, as reported by Al Jazeera, while former Canadian Prime Minister Mark Carney paid tribute to school shooting victims, as detailed by The Guardian. Also, former US President Donald Trump stated that regime change in Iran "would be the best thing that could happen," as reported by Sky News.
The easing of inflation, driven by falling prices for energy and used cars, could bolster arguments that the central bank is in a position to cut interest rates, according to BBC Business. However, some analysts have warned that progress toward the Federal Reserve's 2% target could stall if companies pass on tariff costs or if labor shortages push up prices, BBC Business reported.
The US government's decision to end TPS for Yemen, as reported by Al Jazeera, mandates that the refugees and asylum seekers must leave the country within 60 days or face arrest and deportation. This action was part of a broader immigration crackdown by the Trump administration, impacting those who fled war-torn countries, according to Al Jazeera.
In Canada, Mark Carney, the former Canadian Prime Minister, paid tribute at a makeshift memorial following the mass shootings in Tumbler Ridge, The Guardian reported. He told residents, "the country is with you, and we will always be with you," during a candlelight vigil, according to The Guardian.
Meanwhile, former President Trump, speaking at Fort Bragg in North Carolina, justified the deployment of a second US aircraft carrier to the Middle East, stating "we'll need it" if a deal isn't struck with Iran, Sky News reported. When asked if he wanted to see a change in government in Iran, Trump responded that it "would be the best thing that could happen," according to Sky News.
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