Final inflation report before voters go to polls comes amid widespread anger over cost of living under Trump

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Republicans are entering the midterm elections with the highest rate of inflation since the spring, according to a government report released on Wednesday.

US price increases reached an annual rate of 3.7% in September, according to the latest data from the Bureau of Labor Statistics, up from 3.4% in August. This final inflation report before the pivotal midterm elections comes amid polls showing widespread dissatisfaction with the Trump administration over the cost of living.

US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional

Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, the US Federal Reserve governor, over allegations that she committed mortgage fraud, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional.

Trump said a committee will consult with justice department officials to decide whether there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to consider the allegations against Cook, which will be closed to the public but transcribed and published. Cook will be able to submit a written statement to present her own evidence and will be subject to examination from White House and her own legal counsel.

Suit says AI tool allows independently owned franchises to exchange nonpublic price and sales information

McDonald’s is facing a lawsuit in federal court over its alleged use of an AI tool to determine pricing across independent franchises, which prosecutors say violates antitrust laws and has unfairly inflated menu prices for Americans.

The vast majority of McDonald’s US stores are independently owned and are said to individually decide on prices under company policy. Antitrust laws require businesses to set prices independently from their competitors, as coordinating prices can stifle market competition and push up costs for consumers.

Final jobs report before the midterm elections also shows the US unemployment rate rose slightly to 4.2%

US employers added just 29,000 jobs in September, a sharp drop from last month’s gains, and unemployment rose slightly to 4.2%, a sign of a cooling labor market in the final jobs report before the midterm election.

The numbers were under half of economists’ expectations of just under 70,000 new jobs. Most job gains were concentrated in the healthcare industry, which added 17,000 new jobs, while the information, financial and professional industries saw losses, according to the latest data from the US Bureau of Labor Statistics.