Optimism among US consumers surged to its highest level in seven months in early November, with the University of Michigan's Consumer Sentiment Index climbing to 73. Sentiment differed markedly across political affiliations and expectations for the presidential election outcome. Year-ahead inflation expectations among American households dropped to 2.6%, while longer-term projections over a five- to 10-year period edged up to 3.1%.

First Supply will open a full-service branch in Madison Heights, Mich., near Detroit, early next year. The branch will serve contractors, builders and homeowners with plumbing, HVAC and PVF products. "The timing couldn't be better -- our enhanced transportation and logistics model, made possible by our new distribution center under construction in West Salem, Wis., positions us to serve the Detroit market and beyond with greater efficiency," says President and CEO Katie Seymour.

QXO, a building materials distributor and tech platform, has named Ashwin Rao to be its new chief AI officer and lead a team of data scientists to integrate AI into various operations, including demand forecasting, inventory management and ecommerce. Rao previously led AI initiatives at Target and brings more than 30 years of experience in innovation and AI leadership.

Consumer prices and ocean freight rates could rise if President-elect Donald Trump follows through on his campaign promises to increase tariffs. Businesses in the US that would have to pay tariffs on imported goods are trying to preemptively build inventory now, potentially increasing consumer prices and pushing ocean freight rates higher. Amazon would possibly benefit if Temu were to vanish as tariffs are applied and de minimis rules are more strictly enforced.

US-based companies are moving relatively quickly to integrate digital supply chains as they continue to recover from the COVID-19 pandemic and interruptions from various international conflicts, according to an Information Services Group report. The companies value data-driven decision making and real-time insights as they pursue higher profits, more accurate forecasts and more efficient order fulfillment.

Kelsey Harris, vice president of client results at RAIN Group, offers strategies to boost accountability for virtual sales training such as pairing learners, engaging managers and using technology for tracking. These methods help overcome virtual training challenges, fostering a culture of accountability and enhancing training effectiveness in driving business results.

With a likely Republican-controlled Congress, Donald Trump plans to pursue extensive tax cuts in a second term. Key elements include extending his 2017 tax cuts and possibly further reducing corporate rates, but incoming Senate Finance chair Sen. Mike Crapo, R-Idaho, says "everything is in play." Tax cuts could significantly add to the national debt, and Republicans are considering budget strategies such as reducing Biden-era climate spending but may bypass spending offsets altogether and emphasize growth as a solution.

The Federal Reserve cut interest rates by a quarter point to a target range of 4.5% to 4.75%, citing a solid economy despite easing labor market conditions. The move was a unanimous decision by the Fed's rate-setters. The economy is growing at a "solid pace," the Federal Open Market Committee said, adding inflation remained "somewhat elevated".

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