An Inflation Curveball

Your unbiased daily news brief

August 15, 2025

Good Friday morning. Today's summit between President Donald Trump and Russian President Vladimir Putin is scheduled to begin at 3:30 p.m. ET in Alaska. Have a great weekend.

In Today’s Brief

  • Costco: Abortion pill

  • Haiti: Mercenary surge

  • California: Maps plan

  • Intel: Federal stake

  • NCAA: Michigan ruling

... and more

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The Top Tip

Unexpectedly hot

The interest rate cut outlook just got a bit foggier.

  • The news: July's Producer Price Index was up 0.9% MoM, a surprise given projections expected a 0.2% increase. PPI was up 3.3% YoY, the highest since February, and core producer prices saw the biggest MoM increase since 2022.

  • Next steps: The hot inflation data has created some doubt after many analysts predicted the Federal Reserve would cut rates next month -- as President Trump and his administration have been demanding for months. There will also be questions about whether the report is the first sign of tariff-created economic strains.

  • On Wall Street: The markets took the news in stride. Major indexes closed mixed, but the S&P 500 notched another record close (Dow -0.02%, S&P 500 +0.03%, Nasdaq -0.01%).

Quick Tips

U.S. News

  • Costco will not sell mifepristone at its pharmacies. The pill is used for medical abortions; the warehouse club chain said there is little demand at its locations because most patients receive it from medical providers (More)

  • Parents in a New Jersey town could face jail time or fines if their kids cause a "public disturbance." Gloucester Township, a Philadelphia suburb, passed a new ordinance last month (More)

  • A man who faked his death and fled to Scotland was convicted of rape in Utah. Nicholas Rossi faces five years to life in prison with a second rape trial pending in the state; he claimed to be an orphaned Irish businessman after printing a false obituary to evade authorities (More)

World News

  • Europe's Iron Rhine railway may be revived. The line, which runs through Germany, the Netherlands and Belgium, has strategic value for boosting NATO mobility on the continent (More)

  • Blackwater founder Erik Prince's new security firm will deploy 200 military contractors to Haiti. Vectus Global has signed a 10-year contract to assist the war-torn nation's government in its battle with gangs; it will also help collect taxes (More)

  • Turkey has made a defense pact with Syria. Ankara will provide the new government in Damascus with equipment, weapons and logistical support (More)

Political News

  • California will put new congressional maps on the ballot this fall. Gov. Gavin Newsom, a Democrat, said the move is designed to counter controversial Republican efforts to redraw district lines in Texas (More)

  • Former North Carolina Gov. Roy Cooper, a Democrat, has an eight-point lead on state GOP chairman Michael Whatley in an early 2026 Senate poll. Republican Sen. Thom Tillis is not seeking re-election next year (More)

  • 'Fight the Trump Takeover' events will be held nationwide tomorrow. It is the latest of several mass protest dates since the president returned to office; about 200 events are currently scheduled (More)

Business & Markets

  • The Trump Administration may take a stake in Intel. The government would invest to help the struggling chipmaker build a planned complex in Ohio (More)

  • Target and Ulta will end their in-store partnership next year. The beauty brand has a shop inside 600+ locations of the big box chain nationwide (More)

  • Lyft's co-founders will step down from its board. Logan Green and John Zimmer have completed the rideshare provider's two-year transition period to new CEO David Risher (More)

Entertainment & Sports

  • The NCAA will rule on the Michigan football sign-stealing case today. The Wolverines were charged with 11 violations, including six Level 1 infractions -- the collegiate sports governing body's most serious (More)

  • LL Cool J will host the 2025 MTV Video Music Awards. The event will be held Sept. 7 at New York's UBS Arena; the hip-hop artist previously co-hosted the program in 2022 (More)

  • The 2028 Los Angeles Olympics will sell naming rights for competition venues, breaking with precedent. Comcast and Honda have already agreed to deals with organizers (More)