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Shoppers During Holiday Retail Season
A shopper on Stockton Street in San Francisco, Calif. on Nov. 29.David Paul Morris / Bloomberg via Getty Images, file

Friday’s Mini-Report, 12.23.22

Today’s edition of quick hits.

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Today’s edition of quick hits.

* Encouraging news on inflation: “A measure of inflation closely watched by the Federal Reserve slowed last month, another sign that a long surge in consumer prices seems to be easing. Friday’s report from the Commerce Department showed that prices rose 5.5% in November from a year earlier, down from a revised 6.1% increase in October and the smallest gain since October 2021.”

* It sure does look like the supply chain is back to normal: “The Covid-19 pandemic might not be gone, but the global supply-chain crisis it spawned has abated. Goods are moving around the world again and reaching companies and consumers, despite some production snarls and Covid outbreaks inside China. Gone are the weekslong backlogs of cargo ships at large ports. Ocean shipping rates have plunged below prepandemic levels.”

* The right call from the FDA: “The Food and Drug Administration on Friday significantly changed the information that will be in every box of the most widely used emergency contraceptive pills to make clear that they do not prevent a fertilized egg from implanting in the womb. The agency explained in an accompanying document that the products cannot be described as abortion pills.”

* Putin’s rhetorical shift: “After nearly 10 months of war, but referring to the brutal invasion of Ukraine instead as ‘a special military operation,’ Russian President Vladimir Putin on Thursday finally called it a ‘war’ for the first time, setting off an uproar among antiwar Russians who have been prosecuted for merely challenging the Kremlin-approved euphemism.”

* Kim Jong Un wants attention again: “North Korea fired two ballistic missiles towards the sea off its east coast on Friday, the South Korean military said, the latest in an unprecedented number of missile tests this year. ... The launch comes five days after the isolated country fired two mid-range missiles in what it called an ‘important’ test for the spy satellite program it intends to complete by April.”

* A good move in the Garden State: “Gov. Phil Murphy signed legislation Thursday that will sharply limit where guns can be carried in New Jersey, a direct response to the U.S. Supreme Court’s summer ruling that expanded gun-carry rights.”

* A sedition trial we’re watching: “Jury selection for the seditious conspiracy trial of former Proud Boys leader Enrique Tarrio and four lieutenants will resume in early January after a holiday break, according to court records.”

* For those wondering where Trump’s tax returns are: “The returns had been expected to be released this week, but Ways and Means Committee Chair Richard Neal, D-Mass., told reporters Thursday they might not be released for the ‘next couple of days’ because staffers were still redacting sensitive personal information from the documents.”

Have a safe holiday weekend.