News Wrap: Inflation mostly steady in December as prices rose 2.7% over previous year

Amna Nawaz:

In the day's other headlines: Inflation held mostly steady last month, as the economy wrapped up a year marked by President Trump's tariffs and ongoing concerns about rising prices.

Consumer prices rose 2.7 percent in December when compared to a year before. That was due largely to gains in grocery prices and airline fares. The figure was mostly in line with expectations and still above the Federal Reserve's preferred rate of 2 percent.

In Detroit today, President Trump insisted that today's report is further evidence that the Fed should be cutting rates more aggressively.

President Donald Trump:

In the old days, when you had good numbers, interest rates would go down. When you had good numbers, the market would go through the roof. That's the way we're going to make it again. That's the old-fashioned way. That's the right way.

Today, if you announce great numbers, they raise interest rates to try and kill it. So you can never really have the kind of rally you should have.

Amna Nawaz:

This comes as central bankers from around the world issued a statement today saying they -- quote -- "stand in full solidarity with Fed Chair Jerome Powell."

That's part of a broader backlash to news that the Justice Department had launched a criminal investigation into Powell.

Bill and Hillary Clinton are refusing to testify in a congressional investigation of the late sex offender Jeffrey Epstein. In a letter to the Republican head of the House Oversight Committee, James Comer, the former president and former secretary of state said they will not comply with the House subpoena, calling it legally invalid.

They add about Comer -- quote -- "You are on the cusp of bringing Congress to a halt to pursue a rarely used process literally designed to result in our imprisonment, and we will forcefully defend ourselves."

Comer told reporters today that he will begin contempt of Congress proceedings next week.

Rep. James Comer (R-KY):

They spent a lot of time together while Bill Clinton was president and post-presidency. And, again, no one's accusing the Clintons of any wrongdoing. We just have questions.

Amna Nawaz:

Comer also indicated that the Oversight Committee would not try to compel President Trump to testify since he is in office. Both Trump and Bill Clinton had well-documented friendships with Epstein decades ago. Neither has been accused of any wrongdoing.

In Gaza, hospital officials say at least four people are dead after strong winds knocked over walls and destroyed makeshift shelters. The wind reportedly lifted some tents into the air while others lay in muddy water as families tried to save what they could.

Aid groups say the living conditions are far from sufficient for the harsh Gaza winter, with a 1-year-old boy dying of hypothermia overnight. Separately, Salim Shreir tells the "News Hour" that his 10-year-old niece, Samira, died instantly when a neighboring house collapsed.

Salim Shreir, Displaced Gazan (through interpreter):

The situation was very bad. She was a martyr. The house is part of a building with several floors, mostly destroyed. May God be with all the people who are staying in places that can't handle the heat of summer or the frigidity of winter.

Amna Nawaz:

Also today, U.N. officials said at least 100 children have died in Gaza since a cease-fire took effect last October. A UNICEF spokesperson says those fatalities were due to Israeli military operations, including airstrikes and the use of live ammunition.

Ukrainian officials say Russia targeted their country's power grid overnight, even as Ukraine deals with frigid temperatures. Firefighters in the Eastern region of Kharkiv worked through the night to put out the flames and rescue those trapped in the rubble. At least four people were killed.

Ukraine's President Volodymyr Zelenskyy said the barrage included nearly 300 drones across eight regions, plus missiles. The attack knocked out power for hundreds of thousands of households in the Kyiv region, forcing residents to gather in emergency shelters to stay warm.

The Trump administration is ending temporary protected status for hundreds of immigrants from Somalia. The protections are provided to those coming from countries impacted by things like natural disasters or conflict.

Homeland Security Secretary Kristi Noem posted on social media today that: "Temporary means temporary. Country conditions in Somalia have improved to the point that it no longer meets the law's requirement for temporary protected status." The termination is effective March 17.

The State Department currently lists Somalia with a do-not-travel warning due to crime, terrorism and civil unrest. This comes amid a Trump administration crackdown in Minneapolis, where many Somali immigrants live.

On Wall Street today, stocks drifted lower following recent gains. The Dow Jones industrial average fell nearly 400 points on the day. The Nasdaq slipped more than 20 points and the S&P 500 also ended in negative territory.

And Scott Adams, creator of the comic strip "Dilbert," has died. His satirical take on office culture first appeared in 1989 and went on to run in 2,000 newspapers worldwide. But, in 2023, "Dilbert" was abruptly dropped from syndication after he referred to Black people as members of a hate group. Adams relaunched "Dilbert" on a subscription basis and hosted a podcast where he discussed political and social issues.

Today, President Trump remembered him as a great influencer. Last year, Adams revealed that he had prostate cancer. He was 68 years old.

And civil rights pioneer Claudette Colvin has died. At just 15 years old, Colvin was arrested for refusing to give up her seat on a segregated bus in Montgomery, Alabama, in 1955. The incident occurred just nine months before Rosa Parks gained international fame for refusing to give up her seat.

The boycott that followed led to a federal lawsuit that outlawed racial segregation on Montgomery's buses with Colvin serving as a plaintiff and star witness. She spoke in 2018 about her actions on that fateful day.

Claudette Colvin, Civil Rights Activist:

Most people ask, why didn't you get up when the bus driver asked you to get up? I tell them, I could not move because history had me glued to the seat.

Amna Nawaz:

Colvin spent decades in relative obscurity working as a nurse's aide in New York City, but then saw a renewed focus on her role in the civil rights movement later in life. The foundation that bears her name announced her passing today. Claudette Colvin was 86 years old