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FBI Director Christopher Ray is stepping down before President-elect Donald Trump takes office.

And lawmakers have introduced bills that, if approved, would be the most far-reaching intervention

yet into the operations of pharmacy benefit managers.

PBM reform has been a big bipartisan issue for years now.

It almost got done at the end of last year and didn't quite

get across the finish line. It definitely seems like there are more and more people interested in

harnessing this populist rage against the cost of health care. Plus, U.S. inflation ticked up last

month. What does that mean for the Fed? It's Wednesday, December 11th.

I'm Alex Oslo for the Wall Street Journal. This is the PM edition of What's News, the top headlines

and business stories that move the world today.

Inflation was up in November. The consumer price index rose 2.7% from a year earlier, the Labor

Department said this morning. That's up 0.3% from the prior month, the strongest month-over-month increase

since April. Here to tell us more about what these numbers mean is Wall Street Journal

economics reporter Harriet Torrey. So Harriet,

this report follows other data that suggests that consumers are feeling pretty upbeat. And though

inflation is down from a few years ago, it's still at a level that's kind of difficult for people.

So what does this report say about consumer spending? It shows that consumers are continuing to spend pretty strongly,

and that is reflected in prices.

We saw some pretty notable increases in the CPI in November.

For instance, vehicle prices ticked up.

...