Obama Imposes New Sanctions On North Korea
February 21, 2016
Obama imposes new sanctions on North Korea, specifically targeting the regime for its nuclear and missile tests and suspected cyber-hacking incidents; U.S. Consumer Prices Flat in January but CPI Inflation posts biggest year-over-year gain since October 2014.
- Obama imposes new sanctions on North Korea. On Thursday, President Barack Obama signed new sanctions on North Korea into law, specifically targeting the regime for its nuclear and missile tests as well as for suspected cyber-hacking incidents. North Korea recently conducted its fourth nuclear test in January and recently launched a satellite into space. Congress overwhelmingly passed the measure earlier this month. The measure is intended to compel American allies to enact similarly tough restrictions on North Korea to further isolate the country and stop it from further launching nuclear tests and satellites. In addition, the United Nations Security Council have held up new multilateral sanctions. The unilateral U.S. sanctions that Obama approved would freeze the assets of anyone doing business related to North Korea’s nuclear or weapons program or is involved in human rights abuses in the country. [CNN]
Economic Indicators & News
- U.S. Consumer Prices Flat in January but CPI Inflation posts biggest year-over-year gain since October 2014. U.S. consumer prices were unchanged in January but rose over the past year at its fastest rate since October 2014, at 1.4%. Core prices rose 2.2% in January from a year earlier, the most since June 2012. This may demonstrate that inflation may be firming despite a strong dollar and the lowering in energy prices. The consumer-price index measures what Americans pay for everything from cereal to car insurance and was flat in January after falling 0.1% the previous month, according to the Labor Department on Friday. Excluding the volatile food and energy categories, so-called core prices rose 0.3%, the biggest monthly increase in more than four years. Economists surveyed by the Wall Street Journal had expected overall prices to fall 0.1% and core prices to rise 0.2%. Though falling prices for gasoline and groceries held back overall prices last month, Friday’s report showed gains in core prices were broad-based and mostly driven by higher shelter and medical care costs, and rising prices for apparel, new and used cars and food at restaurants and bars. The Federal Reserve is carefully monitoring inflation as they weigh whether the economy is healthy enough to raise short-term interest rates again. [WSJ]