Retail gross sales decline: Retail gross sales for November within the U.S. declined 0.6% from October, in response to a Commerce Department report launched this morning. The gross sales totaled $689.4 billion. Despite the month to month decline, November’s gross sales had been 6.5% greater than the gross sales that came about in November 2021.

More rate of interest hikes doubtless: Federal Reserve Chairman Jerome Powell signifies that the Fed will proceed elevating rates of interest by means of 2023. Powell spoke at a information convention yesterday afternoon shortly after the Fed introduced one other one-half level hike in rates of interest. The Fed is utilizing rates of interest hikes as a instrument to attempt to tame inflation and produce it right down to about 2% a yr from the present 7.1%. Powell mentioned, “Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run. The historical record cautions strongly against prematurely loosening policy.”

Russia warns U.S.: Russia at this time issued a warning to the U.S. to not go forward with plans for the U.S. to provide anti-missile missiles to Ukraine. The Kremlin mentioned that if the U.S. offers the Patriot defensive missile techniques to Ukraine any U.S. servicemen who’re despatched to Ukraine to coach Ukrainians of their use would turn into targets for the Russian navy.

Biden pledges assist to Africa: At a summit assembly of African leaders held in Washington, President Biden pledged billions of {dollars} in assist to assist construct Africa’s future. Biden mentioned that the U.S. is pledged to serving to African nations construct their infrastructure, enterprise, know-how and public well being.

Musk sells extra Tesla inventory: According to filings this week with the Securities and Exchange Commission, Tesla head Elon Musk has bought not less than $3.95 billion of his shares of Tesla inventory since he purchased Twitter for $44 billion. That’s on prime of about $15 billion in Telsa inventory that Musk beforehand bought. Tesla inventory dropped greater than 60% in worth throughout 2022.

DePape trial: At a preliminary listening to in San Francisco yesterday, a police investigator testified that David DePape, the person accused of attacking Paul Pelosi, husband of House Speaker Nancy Pelosi, mentioned he was trying to assault Nancy Pelosi as a result of she was in line for the presidency after the vp. A decide dominated that there’s sufficient proof to proceed with placing DePape on trial for the assault.

Cover photograph courtesy of The White House