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A tight U.S. labor market is still adding to inflationary pressures, though less so than it did in 2022 and 2023, according to research published on Monday by the San Francisco Federal Reserve. "Declines in excess demand pushed inflation down almost three-quarters of a percentage point over the past two years," San Francisco Fed economists Regis Barnichon and Adam Hale Shapiro wrote in the regional Fed bank's latest Economic Letter. The finding, based on an analysis of the relationship between inflation and labor market heat as measured by the ratio of job openings to job seekers, could help inform Fed policymakers as they weigh how much further and at what pace to reduce short-term borrowing costs.

(Bloomberg) -- US Gulf Coast refineries are running the hardest for this time of the year in more than three decades as they rush to take advantage of strong fuel demand from Mexico and Brazil.Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftParis to Replace Parking Spaces With TreesAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceA Bug’s Eye View of Mexico City’s Modernist ArchitectureNew York’s Transit Agency Approves $9 Congestion Prici

Tesla stock jumped after a report said Trump's transition team is prioritizing the creation of federal framework for fully autonomous cars.

(Bloomberg) -- US consumers had a tougher time accessing credit this year, with applications for auto loans and mortgage refinancing being turned down at the highest rates in more than a decade. Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftParis to Replace Parking Spaces With TreesAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceA Bug’s Eye View of Mexico City’s Modernist ArchitectureNew York’s Transit Agency Approves $9 Congestion Pri

(Bloomberg) -- Oil surged as simmering geopolitical tensions and the weakening dollar overshadowed bearish signals coming from internal market metrics.Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftParis to Replace Parking Spaces With TreesAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceA Bug’s Eye View of Mexico City’s Modernist ArchitectureNew York’s Transit Agency Approves $9 Congestion Pricing TollWest Texas Intermediate rose about

(Bloomberg) -- Colombia’s economy lagged expectations in the third quarter as mining and manufacturing output contracted, bolstering President Gustavo Petro’s argument that deeper interest rate cuts are needed. Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftParis to Replace Parking Spaces With TreesAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceA Bug’s Eye View of Mexico City’s Modernist ArchitectureNew York’s Transit Agency Approves $

(Reuters) -Tesla shares rose more than 5% on Monday after Bloomberg News reported that President-elect Donald Trump's transition team was planning to set up federal regulations for autonomous vehicles. The report comes days after Trump named the automaker's CEO, Elon Musk, as a co-head of the incoming administration's government efficiency department.