Daly: Fed will have to tighten policy further.

Following his midterm defeat, Trump has shifted focus to large, ornate federal construction projects in Washington he views as a political legacy; he said this week construction is "relaxing." About two months from now, Democrats will control Congress and will have the authority to begin scrutinizing projects they see as personal initiatives potentially outside federal law. Federal judges’ growing unease raises the prospect of high-risk oversight and legal confrontations that could reshape parts of Washington’s built environment over coming years.

Financial Times reports European authorities are investigating whether Russia was behind a campaign of bomb threats.