In our news wrap Friday, economic data shows inflation is easing at the start of the year, the Trump administration is suing Harvard University, federal authorities are investigating whether two ICE agents lied under oath about shooting an immigrant in the leg and a top lawyer at Goldman Sachs is resigning after emails showed her close relationship with Jeffrey Epstein.
William Brangham:
In the day’s other headlines, new economic data out today showed inflation easing to start the year. Prices rose just 2.4 percent last month compared to a year ago. It is a welcome sign for consumers, even as prices remain stubbornly high.
As anyone who has gone grocery shopping or filled up their gas tank knows, inflation surged as the COVID pandemic took hold. It peaked near 10 percent before a steady decline to where we are today, near a five-year low.
Speaking to troops today at Fort Bragg, President Trump celebrated today’s data.
President Donald Trump:
We just had fantastic reports on inflation, way down, cost of products, way down. We inherited a mess, total mess, and now it’s really coming along.
William Brangham:
In fact, inflation still remains above the Federal Reserve’s 2 percent target rate and consumers remain frustrated by high prices. But economists say today’s better-than-expected numbers are likely to boost the chances of rate cuts moving forward.
The Trump administration is suing Harvard University, saying it refused to provide admissions records that officials have demanded. A lawsuit filed today alleges that Harvard — quote — “thwarted the Justice Department’s efforts to investigate potential discrimination related to affirmative action at the school.”
Harvard insists that it is in compliance with the law. This is just the latest legal battle between the two, with Harvard saying today that it will — quote — “continue to defend itself against these retaliatory actions by the Trump administration.”
In Minneapolis, federal authorities are investigating whether two ICE agents lied under oath about an incident in which one of them shot a Venezuelan immigrant in the leg. ICE Acting Director Todd Lyons announced the joint probe with the Justice Department after video evidence revealed what Lyons called untruthful statements in their testimony.
The shooting in mid-January kicked off hours of tense protests in the city after agents initially claimed that they were assaulted by two men with a broom and a shovel. The officers have been put on administrative leave. It comes after a federal judge dropped all charges against the two immigrants involved.
Teachers in San Francisco reached a tentative deal with the school district to end their strike and get back to class. Roughly 6,000 educators walked off the job earlier this week in the city’s first such strike in nearly 50 years. Some 50,000 students were affected. Today’s deal addresses teacher demands for higher wages and better benefits.
But the district superintendent warns that more belt tightening will be needed in the future.
Maria Su, Superintendent, San Francisco Unified School District:
We also want to be clear about our path to fiscal stability. We stretched our resources to the limit to get this agreement done.
William Brangham:
San Francisco School District faces 100 million dollar deficit. Officials say after today’s deal schools are set to reopen to staff on Friday and students will return next Wednesday.
There has been more fallout from the recent release of millions of documents related to Jeffrey Epstein, both here and overseas. The top lawyer at Goldman Sachs, Kathy Ruemmler, says she will step down after e-mails showed her close relationship with the late sex offender. Ruemmler also worked as White House counsel for President Obama. She once described Epstein as — quote — “another older brother.”
Former Israeli Prime Minister Ehud Barak says he regrets his yearslong relationship with Epstein. And one of the world’s largest logistics companies, DP World, replaced its chairman after e-mails linked him to Epstein. None of those individuals are accused of any crimes.
The Bangladesh Nationalist Party has claimed victory in the country’s first election since a student movement toppled the last government. Party leader Tarique Rahman is set to be prime minister. He’s a member of one of the nation’s political dynasties and has been living in exile for nearly 20 years.
The result comes after a student-led uprising forced the previous prime minister out of office back in 2024. While final results have yet to be announced, the U.S., India and Pakistan have all congratulated the BNP on its victory.
On Wall Street today, stocks ended mixed following that January inflation data. The Dow Jones industrial average posted a small gain of just under 50 points. The Nasdaq lost ground, giving back 50 points of its own. The S&P 500 closed mostly flat on the day.
And a new crew is on its way to the International Space Station. They will replace the astronauts who returned to Earth a month early in NASA’s first medical evacuation.
Man:
And liftoff. Go, Falcon. Go, Dragon, and Godspeed Crew-12.
William Brangham:
Their SpaceX Falcon 9 rocket blasted off from Florida early this morning with four people on board. The U.S., French and Russian astronauts are expected to arrive at the ISS tomorrow and stay until the fall.
Once the astronauts were safely in orbit, SpaceX launch control said of the launch date — quote — “It turns out Friday the 13th is a very lucky day.”
And the first week of the Winter Olympics came to a close today with a shocking result. And fair warning, we have some spoilers ahead.
Figure skating phenom and gold medal favorite Ilia Malinin fell twice in his free skate, knocking him all the way down to an eighth place finish. In the women’s hockey quarterfinals, Team USA were victorious against Italy in front of its hometown crowd. And, in curling, the U.S. women’s team beat Canada for the first time ever at an Olympics with a dramatic 9-8 win.
Looking at the overall medal count, the U.S. is now tied for third with 14 total. Norway and host nation Italy have widened their lead with 18 apiece.
