US Fed’s preferred inflation gauge rises, with more cost pressures expected

The US Federal Reserve’s preferred inflation measure edged up in August as tariffs filtered through the economy, while analysts warn of further cost pressures after President Donald Trump unveiled a slew of upcoming duties.But personal spending also rose last month, pointing to resilience in consumption — a key driver of the world’s biggest economy.The personal consumption expenditures (PCE) price index rose 2.7 percent last month on a year-on-year basis, up from July’s 2.6 percent, the Department of Commerce said Friday.But the PCE price index, when excluding the volatile food and energy sectors, increased at a rate of 2.9 percent, the same as in July.Trump told reporters Friday that the country had “virtually no inflation,” stressing that the economy was doing well.But both PCE figures are notably above the central bank’s longer-run inflation target of two percent, adding to pressure on the Fed as it adjusts interest rates.The Fed walks a tightrope between reining in inflation and maintaining the labor market’s health.This month, policymakers lowered rates for the first time in 2025 as employment weakened. But inflation continues to inch up, even if tariffs have had a relatively limited impact on costs for now — complicating the path forward.Trump this year slapped a sweeping 10-percent duty on imports from almost all trading partners, before hiking this to various steeper levels on dozens of economies.Businesses have been grappling with higher costs as a result, although they have not passed the burden on to consumers entirely — partly as they stocked up on inventory in anticipation of tariffs and also as they are wary of how much price hikes buyers will tolerate.- Shaky ground -“The PCE price indexes show inflation creeping higher as tariffs push up a range of goods prices,” said Oxford Economics’ deputy chief economist Michael Pearce in a statement.He estimates that about two-thirds of the tariff burden has fed through to consumers.But, he cautioned, “the range of new sectoral tariffs announced overnight mean further price pressures are likely on the way.”On Thursday, Trump announced in a series of social media posts that he would slap steep duties on imports of heavy trucks, kitchen cabinets and other furniture, as well as certain branded or patented pharmaceutical products come October 1.The range of tariff levels goes from 25 percent for trucks to 100 percent on branded pharmaceuticals — unless companies built their manufacturing plants in the United States.The recent spending momentum “lacks firm foundations,” warned economists Samuel Tombs and Oliver Allen of Pantheon Macroeconomics.The full effects of tariffs have yet to be seen, they said, while real after-tax income will likely remain stagnant through the end of the year, given weakness in the jobs market.For now, on a month-on-month basis, the PCE price index was up 0.3 percent in August, also picking up slightly from July’s level.Personal spending rose 0.6 percent in the month, up from 0.5 percent in July, the report showed.

Guaino demande une grâce présidentielle sur l’incarcération de Sarkzoy pour éviter “une humiliation”

L’ancien conseiller spécial de Nicolas Sarkozy, Henri Guaino, a demandé vendredi une grâce présidentielle sur l’incarcération de l’ancien chef de l’Etat qui n’est pas susceptible d’appel et est “une humiliation de l’Etat et des institutions”.”Une grâce n’efface pas la condamnation et elle peut être partielle. Donc il ne me paraîtrait pas absurde qu’il soit gracié sur la peine complémentaire, c’est à dire sur l’exécution provisoire (de l’incarcération) qui n’est pas susceptible de recours”, a jugé M. Guaino sur RTL. Sans “arrêter les recours par lesquels il veut prouver son innocence”, cette grâce “pourrait très bien éliminer cette décision (d’incarcération) qui est quand même une humiliation, non seulement de Nicolas Sarkozy, mais aussi de l’Etat et des institutions”, a-t-il suggéré.Au titre de l’article 17 de la Constitution, “le président de la République a le droit de faire grâce à titre individuel”.Elle entraîne la dispense d’exécution totale ou partielle d’une peine ou la commutation de celle-ci en une peine moins lourde. Elle ne s’applique qu’à une condamnation définitive et exécutoire, mais n’efface pas cette dernière qui continue à figurer au casier judiciaire avec la mention de la mesure gracieuse octroyée.Le sénateur Les Républicains Stéphane Le Rudulier a également demandé cette grâce “partielle” dans un courrier à Emmanuel Macron qu’il a partagé sur X.Il y demande une grâce “limitée à la suspension de l’exécution provisoire de sa peine, en particulier au mandat de dépôt”. Cela “relèverait d’un acte républicain, et préserverait l’honneur de nos institutions”, ajoute-t-il à l’adresse du président de la République. Dans l’affaire du financement libyen de sa campagne de 2007, Nicolas Sarkozy a été condamné jeudi à cinq ans d’emprisonnement par le tribunal correctionnel de Paris qui a ordonné sa prochaine incarcération pour association de malfaiteurs sans attendre son procès en appel. A l’unisson de la droite et de l’extrême droite depuis le jugement, M. Guaino a par ailleurs dénoncé “une sorte de coup d’Etat judiciaire”, “un mouvement de fond très dangereux pour les démocraties occidentales par lequel le pouvoir judiciaire est en train de prendre le pas sur le pouvoir politique”. Aux Etats-Unis, “les juges ont essayé de faire condamner Trump, ils ne sont pas arrivés à le faire à temps. Le résultat, c’est que les électeurs ont marché sur la justice et que la justice est la première victime de cette guerre” avec les représailles du président américain, a-t-il fait remarquer.

Wreckage strews deserted Madagascar capital after violent protestsFri, 26 Sep 2025 15:06:34 GMT

The streets were largely deserted in Madagascar’s capital Friday as residents took stock of the damage from a day of violent protests over frequent power cuts and water shortages.The protest in Antananarivo, led by hundreds of mostly young demonstrators, was met with a heavy police response, with rubber bullets and tear gas used to disperse …

Wreckage strews deserted Madagascar capital after violent protestsFri, 26 Sep 2025 15:06:34 GMT Read More »

Livre sur la DGSI: procès ordonné pour un journaliste et deux ex-policiers

Auteur en 2019 d’un livre sur la Direction générale de la sécurité intérieure (DGSI), le journaliste Alex Jordanov a été renvoyé en correctionnelle pour des atteintes au secret défense, tout comme deux ex-policiers présentés comme ses sources.Selon l’ordonnance de renvoi du 10 septembre dont l’AFP a eu connaissance vendredi, Alex Jordanov, 66 ans, et les deux anciens policiers des services de renseignement, âgés de 47 ans et 61 ans, seront jugés devant le tribunal correctionnel de Paris pour des infractions au secret défense, au secret professionnel, et pour révélation d’informations permettant l’identification d’une source, entre 2015 et 2022.La justice reproche au journaliste, brièvement otage en Irak en 2004, d’avoir dangereusement levé le voile, dans son livre “Les Guerres de l’ombre de la DGSI” (Nouveau Monde Editions), sur la cuisine interne du principal service de renseignement travaillant sur la sécurité intérieure de la France. Mais aussi d’avoir rendu possible l’identification de certaines sources humaines de la DGSI, ce qui les aurait mises en danger.Six mois après la publication de l’ouvrage, la DGSI avait signalé à la justice ce livre à cause du “préjudice important” qu’il aurait causé.L’enquête pénale s’est appuyée sur des éléments contenus dans un cahier de notes, retrouvé trois ans avant la publication du livre et qui aurait été égaré par M. Jordanov, et a tiré le fil d’anecdotes de l’ouvrage pour incriminer les trois protagonistes, mis en examen fin juin 2022.Le journaliste a alors reçu le soutien de Reporters sans frontières, du Syndicat national des journalistes ou de l’Association confraternelle de la presse judiciaire.Au cours de l’instruction, Alex Jordanov a défendu avoir voulu raconter une “aventure humaine d’agents du renseignement”, assuré qu’il ne s’était jamais servi de documents classifiés et que son travail était du journalisme d’investigation, d’intérêt public.Les juges d’instruction rappellent avoir dû “réaliser une balance des intérêts en présence”, sachant que “la protection du secret des sources des journalistes doit être tempérée par l’objectif de sécurité nationale (…) et ne constitue pas une cause d’irresponsabilité pénale”.Pour les magistrats, le contenu du livre a “porté une atteinte importante à la sécurité nationale” et n’avait pas “d’utilité publique”, car il porte surtout selon eux sur les “critiques” émises par d’ex-membres de ces services quant à leur évolution.- Une “victime collatérale” -Les avocats d’Alex Jordanov, Me Marie Cornanguer et Me William Bourdon, ont saisi la cour d’appel de Paris d’un recours.”Il est strictement nécessaire à la défense de pouvoir contrôler l’existence d’une décision préalable de classification d’une information ou d’un support” évoqués dans le livre “puisque, sans cela, le délit de divulgation d’informations couvertes par le secret de la défense nationale ne peut s’appliquer”, souligne Me Cornanguer. “En tout état de cause, la relaxe sera demandée”, ajoute Me Bourdon, car “Alex Jordanov est la victime collatérale d’une opération de la DGSI visant à intimider les journalistes d’investigation et les agents publics, dont l’indignation face à des graves illégalités les conduit à les révéler aux média.”Les juges reprochent aussi à M. Jordanov un passage du livre concernant une ancienne source syrienne des services de renseignement français, dans une opération appelée “Ratafia”, des informations pourtant déjà publiées précédemment par Le Monde. Ladite source aurait été “arrêtée, interrogée pour espionnage puis exécutée”, affirme l’ordonnance des juges.Selon les magistrats, cela a créé un “dysfonctionnement majeur sans précédent” et mis “à mal pour plusieurs années la relation de la DGSI avec un partenaire étranger”.”Des éléments en notre possession, nous n’avons aucune raison de valider une telle spéculation”, conteste Me Bourdon.Me Emmanuel Daoud indique lui que son client, le plus jeune des deux anciens policiers, “expliquera au tribunal l’état d’esprit qui était le sien à l’époque où il subissait un véritable harcèlement de la part de sa hiérarchie au sein de la DGSI, objet d’une instruction à Nanterre”. Son client n’avait pas “la volonté et l’intention de compromettre le secret de la défense nationale”, assure Me Daoud.L’avocate de l’autre policier n’a pas répondu à l’AFP.

Trump hopes more opponents to be charged after ‘dirty cop’ Comey

US President Donald Trump called Friday for more of his political opponents to face criminal charges as he cheered the indictment of former FBI director James Comey and branded him a “dirty cop.”The Republican’s comments step up an extraordinary, undisguised campaign of retribution against those who oppose him that defies decades of norms in US politics.”Frankly I hope there are others,” Trump told reporters at the White House when asked about Comey’s indictment on Thursday.”It’s not revenge. It’s also about the fact that you can’t let this go on.”Presidents have historically bent over backward — at least in public — to show clear separation between the White House and the Justice Department. Trump has smashed that precedent, making clear he intends to influence Comey’s case — and others.Comey was charged with making false statements and obstruction of justice in connection with the probe he conducted into whether Trump colluded with Russia to win the 2016 election.”He’s a dirty cop, he’s always been a dirty cop,” Trump told reporters about Comey, echoing an earlier post on his Truth Social network in which he declared him guilty.The charges against the former FBI chief came days after Trump publicly urged Attorney General Pam Bondi to take action against Comey and others he sees as enemies.They included Leticia James, who as New York’s state prosecutor brought a civil fraud case against Trump, and California Senator Adam Schiff, who led the prosecution at the president’s first impeachment in 2019.Asked who would be next for prosecution, Trump said: “It’s not a list, but I think there will be others.”Trump has used his office since returning to power in January to pressure a huge variety of individuals and institutions that either opposed him in the past or, as in the case of several media outlets, had sought to maintain their independence from him.Current FBI chief Kash Patel on Friday denied accusations from Democrats that the Comey charges were politically linked.”The wildly false accusations attacking this FBI for the politicization of law enforcement comes from the same bankrupt media that sold the world on Russia Gate — it’s hypocrisy on steroids,” Patel posted on X.- ‘Not afraid’ -The charges against Comey are the most dramatic instance yet of Trump’s retribution drive.Comey faces up to five years in prison if convicted, according to federal prosecutor Lindsey Halligan, who was appointed by Trump just days ago to pursue the case. A former personal lawyer to the president, she has no experience as a prosecutor.In a video posted on Instagram, Comey said “I’m not afraid” and denied any wrongdoing.Comey has been prominent during Trump’s second term, as a critic of what he says are the Republican’s efforts to weaponize the justice system for his own political use.But Trump’s feud with Comey goes back to the early days of his tumultuous first term when Comey was the director of the FBI.Trump fired Comey in 2017 amid a probe into whether any members of the Trump campaign had colluded with Moscow to sway the 2016 presidential vote — an issue that dogged the Republican throughout his first term.Trump has vowed to take revenge on all who investigated him in the affair, which he brands the “Russia hoax.” And his intelligence chiefs have issued reports casting the original probes as politically motivated and flawed.But the case against Comey has been criticized as deeply flawed from the start.The five-year statute of limitations on his alleged lying to Congress expires Tuesday, forcing prosecutors to rush to indict. The chief prosecutor for the Eastern District of Virginia declined to press charges but then left her job under pressure from Trump — and was replaced by the inexperienced Halligan.

Eurovision : vote début novembre à l’UER sur la participation d’Israël

Les membres de l’Union Européenne de Radio-Télévision (UER) se réuniront début novembre pour voter sur la participation d’Israël à l’Eurovision, après les appels de plusieurs pays européens au boycott, a indiqué l’organisation vendredi.”Une lettre (…) a été envoyée aux directeurs généraux de tous nos membres pour les informer qu’un vote sur la participation au concours Eurovision de la Chanson 2026 aura lieu”, a indiqué à l’UER, à l’AFP.Ce vote se tiendra lors d’une “réunion extraordinaire de l’Assemblée générale de l’UER, qui se tiendra en ligne début novembre”, a précisé l’organisation, qui est la première alliance mondiale de médias de service public.Dans cette lettre, vue par l’AFP, la présidente de l’UER, Delphine Ernotte Cunci, explique que le Conseil exécutif de l’organisation “a reconnu qu’il existe une diversité de points de vue sans précédent concernant la participation de KAN”, le diffuseur israélien du concours.Le Conseil exécutif estime que l’UER défend “l’inclusion et un dialogue culturel ouvert” mais reconnaît l’impossibilité de parvenir à un consensus concernant la participation israélienne, indique-t-elle.”Étant donné que l’Union n’a jamais été confrontée à une situation de division comme celle-ci auparavant, le Conseil a convenu que cette question méritait une base démocratique plus large pour qu’une décision soit prise” afin que tous les membres puissent “avoir la possibilité de s’exprimer”, a-t-elle ajouté.Les pays européens sont divisés sur le sujet.L’Autriche, pays hôte de l’Eurovision en 2026, a regretté les appels de plusieurs pays européens au boycott si Israël participe à la prochaine édition. Le ministre allemand de la Culture Wolfram Weimer a également fustigé ces appels, affirmant qu'”exclure Israël aujourd’hui, c’est aller à l’encontre de cette idée fondamentale et transformer en tribunal une fête d’entente entre les peuples”.L’Espagne, l’Irlande, la Slovénie, l’Islande et les Pays-Bas ont annoncé qu’ils n’enverraient pas de représentant au concours à Vienne en mai prochain si Israël est autorisé à participer.D’autres pays comme la Belgique, la Suède et la Finlande réfléchissent également à un boycott.L’association de l’audiovisuel public néerlandaise Avrotros avait justifié sa décision par les “sérieuses violations de la liberté de la presse” commises par les Israéliens à Gaza. Elle accuse aussi Israël d’avoir commis “des interférences prouvées lors de la dernière édition, se livrant à une instrumentalisation politique de l’événement”. La chanteuse israélienne Yuval Raphael, survivante de l’attaque du 7 octobre, était arrivée seconde au concours 2025, portée par le vote du public.L’Eurovision est régulièrement le théâtre d’oppositions géopolitiques. La Russie a été exclue à la suite de l’invasion de l’Ukraine en 2022. Le Bélarus l’avait été un an plus tôt après la réélection contestée du président Alexandre Loukachenko.

The nations and firms threatened by Trump’s pharma tariffs

Donald Trump has shocked the global drug industry by announcing 100-percent tariffs on all branded, imported pharmaceutical products — unless companies are building manufacturing plants in the United States.With just five days left until the US president is set to impose the harshest measures yet in his global trade war, analysts have been racing to figure out which nations, firms and drugs could be affected.While plenty of uncertainty remains, there do appear to be some exemptions. Major exporter the European Union says a previous trade deal shields the bloc from the tariffs.- Which products will be hit? -Trump announced late Thursday he would impose a 100-percent tariff on “any branded or patented Pharmaceutical Product” unless the company has started construction on a manufacturing plant by October 1.The statement indicates that generic medicines — cheaper versions of drugs produced once patents expire — are exempt.Neil Shearing, an economist at Capital Economics, said this exemption would have limited impact because while “90 percent of US drugs consumption volumes go toward generic drugs”, they account for “just 10 percent or so of spending values”.Kathleen Brooks, research director at XTB, said that “most of the big pharma producers already produce their drugs for the American market in the US”.However there are many popular exceptions — such as the blockbuster weight-loss drugs Wegovy and Mounjaro — as well as some cancer treatments that are all made in Europe, she added.Last year, the US imported nearly $252-billion worth of drugs and other pharma products, making it the second-largest import in value after vehicles, according to the Department of Commerce.- Which countries could be spared? -The EU said Friday that a trade deal sealed with the US in July shielded the bloc.”This clear all-inclusive 15 percent tariff ceiling for EU exports represents an insurance policy that no higher tariffs will emerge for European economic operators,” EU trade spokesman Olof Gill said.Tariffs on medicine “would create the worst of all worlds” by increasing costs, disrupting supply chains and preventing patients from getting life-saving treatment, Nathalie Moll of the European Federation of Pharmaceutical Industries and Associations said in a statement to AFP.Macro Angel Talavera from Oxford Economics said the July trade deal should in principle protect EU companies– but it remains “far from clear”.Switzerland — which is home to pharma giants Roche, Novartis and AstraZeneca — was likely most at risk because the country is not a member of the EU, he said. Denmark, where Ozempic and Wegovy producer Novo Nordisk has a major impact on the national economy, was also under threat, he added.The pharma sector in Ireland — whose exports to the US represent roughly 12 percent of GDP, according to Shearing — was among the European groups calling for urgent talks to avert the looming tariffs. A British government spokesperson said the UK was “actively engaging with the US and will continue to do so over the coming days”.In Asia, Japan and South Korea are thought to be shielded by trade deals, while India mostly exports generic drugs, according to Louise Loo at Oxford Economics.”Singapore, focused on high-value patented drugs, faces the greatest risk,” she added.- What are pharma firms doing? -Trump had previously threatened even steeper tariffs of 200 percent on pharmaceuticals in July.Aiming to protect themselves from Trump’s protectionist policies, pharma giants have announced around $300 million in investments in the US in recent months. “Although many pharma companies have pledged to build plants in the US, construction may not have started yet, as these plants are complex to build,” Brooks said.However Trump was clear that he defined building as “breaking ground” on construction sites.Swiss pharma giant Novartis said on Friday that “we have ongoing construction and expect to announce five new sites to be under construction before end of year”.A spokesperson for Bayer said the German company was “assessing the situation”. Other major firms contacted by AFP have yet to respond.

The nations and firms threatened by Trump’s pharma tariffs

Donald Trump has shocked the global drug industry by announcing 100-percent tariffs on all branded, imported pharmaceutical products — unless companies are building manufacturing plants in the United States.With just five days left until the US president is set to impose the harshest measures yet in his global trade war, analysts have been racing to figure out which nations, firms and drugs could be affected.While plenty of uncertainty remains, there do appear to be some exemptions. Major exporter the European Union says a previous trade deal shields the bloc from the tariffs.- Which products will be hit? -Trump announced late Thursday he would impose a 100-percent tariff on “any branded or patented Pharmaceutical Product” unless the company has started construction on a manufacturing plant by October 1.The statement indicates that generic medicines — cheaper versions of drugs produced once patents expire — are exempt.Neil Shearing, an economist at Capital Economics, said this exemption would have limited impact because while “90 percent of US drugs consumption volumes go toward generic drugs”, they account for “just 10 percent or so of spending values”.Kathleen Brooks, research director at XTB, said that “most of the big pharma producers already produce their drugs for the American market in the US”.However there are many popular exceptions — such as the blockbuster weight-loss drugs Wegovy and Mounjaro — as well as some cancer treatments that are all made in Europe, she added.Last year, the US imported nearly $252-billion worth of drugs and other pharma products, making it the second-largest import in value after vehicles, according to the Department of Commerce.- Which countries could be spared? -The EU said Friday that a trade deal sealed with the US in July shielded the bloc.”This clear all-inclusive 15 percent tariff ceiling for EU exports represents an insurance policy that no higher tariffs will emerge for European economic operators,” EU trade spokesman Olof Gill said.Tariffs on medicine “would create the worst of all worlds” by increasing costs, disrupting supply chains and preventing patients from getting life-saving treatment, Nathalie Moll of the European Federation of Pharmaceutical Industries and Associations said in a statement to AFP.Macro Angel Talavera from Oxford Economics said the July trade deal should in principle protect EU companies– but it remains “far from clear”.Switzerland — which is home to pharma giants Roche, Novartis and AstraZeneca — was likely most at risk because the country is not a member of the EU, he said. Denmark, where Ozempic and Wegovy producer Novo Nordisk has a major impact on the national economy, was also under threat, he added.The pharma sector in Ireland — whose exports to the US represent roughly 12 percent of GDP, according to Shearing — was among the European groups calling for urgent talks to avert the looming tariffs. A British government spokesperson said the UK was “actively engaging with the US and will continue to do so over the coming days”.In Asia, Japan and South Korea are thought to be shielded by trade deals, while India mostly exports generic drugs, according to Louise Loo at Oxford Economics.”Singapore, focused on high-value patented drugs, faces the greatest risk,” she added.- What are pharma firms doing? -Trump had previously threatened even steeper tariffs of 200 percent on pharmaceuticals in July.Aiming to protect themselves from Trump’s protectionist policies, pharma giants have announced around $300 million in investments in the US in recent months. “Although many pharma companies have pledged to build plants in the US, construction may not have started yet, as these plants are complex to build,” Brooks said.However Trump was clear that he defined building as “breaking ground” on construction sites.Swiss pharma giant Novartis said on Friday that “we have ongoing construction and expect to announce five new sites to be under construction before end of year”.A spokesperson for Bayer said the German company was “assessing the situation”. Other major firms contacted by AFP have yet to respond.