President Donald Trump declared victory over the country's cost-of-living woes on Tuesday, telling the crowd at an event in Georgia, I've won affordability. Trump delivered remarks at a steel fabricator in Rome, Georgia, where he touted his economic record and a historically high stock market. After listing some of his second term achievments, the president claimed to have won the battle for affordability, a word Democrats had made the centerpiece of last year's elections and the upcoming midterms.
New York's minimum wage is set to increase effective Jan. 1. Starting on that date, the minimum wage statewide will increase by 50 cents an hour. In New York City, Westchester County and on Long Island, it will rise to $17 an hour. In the rest of the state, including the Syracuse area and Upstate New York, it will increase to $16 an hour. That's an increase of about 3% in the Downstate areas and 3.2% in the rest of the state.
"We doubt that US tariffs will significantly affect inflation in the rest of the world, but if anything, the effect could be mildly disinflationary," said Simon MacAdam and Ariane Curtis.
