U.S. Prices Fell in November, for First Time Since 2020

P.M. Edition for Dec. 22. Inflation is narrowing in on the Federal Reserve’s 2% target. The Fed’s preferred inflation measure fell last month, for the first time since 2020. Economics reporter David Harrison has more. And Bristol Myers Squibb makes a bet on neuroscience drugs, with plans to buy Karuna Therapeutics for $14 billion. Health business editor Jonathan D. Rockoff explains. Plus, the Supreme Court leaves arguments on Trump’s immunity to an appeals court. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices