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Could the Fed raise rates again in June?

Published Thu, 26 Dec 2024 04:30:06 GMT

New York (CNN) — Will the Federal Reserve hike interest rates at its next meeting in June — for the 11th time in a row — or pause? Wall Street seems to be betting on the latter, but it was a topsy-turvy journey to that consensus last week.What happened: The Fed’s meeting earlier this month fueled hopes that it was done with rate hikes, at least for now. Then, a slate of economic data last week came in stronger than expected.Retail spending rebounded in April after two months of declines, suggesting that consumers are still spending despite tightening their purse strings. Jobless claims declined more than expected for the week ended May 13, staying below historical averages.Traders saw a roughly 36% chance last Thursday that the Fed will raise rates by another quarter point in June, up from around 15.5% on May 12, according to the CME FedWatch Tool.Then, Fed Chair Jerome Powell weighed in mid-morning Friday. In a panel with former Fed head Ben Berna...

Dwinell: Untangling the Rachael Rollins mess, truth matters

Published Thu, 26 Dec 2024 04:30:06 GMT

The president of the Massachusetts College of Liberal Arts in the Berkshires awarded me an honorary doctor’s degree in journalism at last weekend’s commencement.As an alum, it’s more than I deserve. I declined at first, but President James Birge insisted. I accepted on behalf of everyone who believes in the truth.“Truth is my job,” I said in my acceptance speech. “Even if it takes all day, I never stop digging for the truth.”Truth keeps my old car on the road and sells this newspaper. I promised President Birge and his amazing staff I’d write about the recognition and today is proof the Herald keeps a promise. I’d rather stay out of the news, but sometimes it can’t be avoided.Ain’t that the truth.What was just delivered to President Biden is Exhibit A.Former U.S. Attorney for Massachusetts Rachael Rollins called the Herald liars and blocked me from her Twitter feed after she attended a DNC fundraiser featuring First L...

Man seriously injured at TTC’s Greenwood Yard

Published Thu, 26 Dec 2024 04:30:06 GMT

The Ministry of Labour has been called in to investigate following an accident Sunday morning at the TTC’s Greenwood Yard.Police say first responders were called to 400 Greenwood Avenue just after 8:30 a.m. for reports an employee had been injured after a train rolled back on them. Paramedics tell CityNews a man in his 70s had been taken to a trauma centre. The extent of their injuries is unknown at this time. The Greenwood subway yard is where all the trains that operate on the Bloor-Danforth subway are stored and it includes a maintenance facility where repairs are carried out. More to come

Mount Etna volcano erupts, raining ash on Catania, forcing shutdown of local airport

Published Thu, 26 Dec 2024 04:30:06 GMT

ROME (AP) — Mount Etna, Europe’s most active volcano, was erupting on Sunday, spewing ash on Catania, eastern Sicily’s largest city, and forcing a shutdown of that city’s airport.Italy’s National Institute of Geophysics and Volcanology, or INGV, which closely monitors Etna with instrumentation on the slopes, noted that cloud cover on a rainy day was impeding views of the eruption, which often serves up a spectacular display of flaming lava during the volcano’s not infrequent eruptions.The institute said that ash had fallen on Catania and at least one town on Mount Etna’s inhabited slopes. No injures were reported. Italy state television, reporting from Catania, said the city’s airport would be closed at least until Sunday evening. INGV indicated that monitoring had recorded evidence of a stepping up in tremor activity in recent days.People in the towns of Adrano and Biancavilla reported hearing loud booms emanating from the volcano on Sunday, the Italian news agency ANSA said.In ear...

SpaceX launching Saudi astronauts on private flight to space station

Published Thu, 26 Dec 2024 04:30:06 GMT

CAPE CANAVERAL, Fla. (AP) — SpaceX’s next private flight to the International Space Station awaited takeoff Sunday, weather and rocket permitting.The passengers include Saudi Arabia’s first astronauts in decades, as well as a Tennessee businessman who started his own sports car racing team. They’ll be led by a retired NASA astronaut who now works for the company that arranged the 10-day trip. It’s the second charter flight organized by Houston-based Axiom Space. The company would not say how much the latest tickets cost; it previously cited per-seat prices of $55 million.With its Falcon rocket already on the pad, SpaceX targeted a liftoff late Sunday afternoon from NASA’s Kennedy Space Center. It’s the same spot where Saudi Arabia’s first astronaut, a prince, soared in 1985.Representing the Saudi Arabian government this time are Rayyanah Barnawi, a stem cell researcher set to become the kingdom’s first woman in space, and Royal Saudi Air Force fighter pilot A...

Former Marine charged with killing NYC man argues it 'had nothing to do with race'

Published Thu, 26 Dec 2024 04:30:06 GMT

(The Hill) – The former Marine charged in the chokehold death of Jordan Neely on a New York subway earlier this month argued it “had nothing to do with race” in a recent interview.Daniel Penny, a 24-year-old white man, placed Neely, a 30-year-old Black man, in a chokehold for nearly 15 minutes, while he was reportedly experiencing a mental health episode. Neely was later pronounced dead at the hospital.Penny was charged with second-degree manslaughter nearly two weeks after Neely’s death, which a medical examiner determined was caused by compression of the neck. He was freed pending trial hours after turning himself in at a police station and appearing in court to answer criminal charges.“I judge a person based on their character,” Penny told the New York Post in an interview. “I’m not a white supremacist.”“I’m deeply saddened by the loss of life,” he added. “It’s tragic what happened to him. Hopefully, we can change the system that’s so desperately failed us.”However, when asked if...

NAACP issues travel warning in Florida: the state 'has become hostile to Black Americans'

Published Thu, 26 Dec 2024 04:30:06 GMT

(The Hill) – The NAACP issued a formal travel advisory for Florida on Saturday, saying the state has become “hostile to Black Americans” under Florida Gov. Ron DeSantis's (R) leadership.“On a seeming quest to silence African-American voices, the Governor and the State of Florida have shown that African Americans are not welcome in the State of Florida,” the travel advisory reads.“Due to this sustained, blatant, relentless and systemic attack on democracy and civil rights, the NAACP hereby issues a travel advisory to African Americans, and other people of color regarding the hostility towards African Americans in Florida,” the group added. What El Niño means for the 2023 hurricane season The advisory points to several of DeSantis’s controversial policies, including legislation he signed on Monday to prohibit colleges from spending public funds on diversity, equity and inclusion efforts. The Florida governor also previously signed the Stop WOKE Act, restricting how workplaces a...

What El Niño means for the 2023 hurricane season

Published Thu, 26 Dec 2024 04:30:06 GMT

(NEXSTAR) – National forecasters recently upped the chances that a "potentially significant" El Niño will form soon. Also scheduled to start soon, on June 1, is hurricane season. The strength and location of storms we see could be influenced by the return of El Niño for the first time in years. While El Niño can strengthen hurricane season in the central and eastern Pacific, it tends to contribute to weaker hurricanes forming in the Atlantic basin. During La Niña years, the opposite is true. Hurricane season in the Atlantic and central Pacific runs from June 1 to Nov. 30 every year. The eastern Pacific's season starts a bit earlier, on May 15. The strongest storms are usually observed between mid-August and mid-October. 2023 hurricane season predictions released El Niño is likely to take over between now and July, the Climate Prediction Center said last week. The effects of El Niño tend to strengthen as the year goes on, and typically peak in winter. La Niña has been present for m...

Uvalde 'moving forward': Horror to hope, one year later

Published Thu, 26 Dec 2024 04:30:06 GMT

UVALDE, Texas (Nexstar) — As Lalo Diaz paces around the 21 crosses lining Uvalde's town square, he sees the memories of his friends and their children.Playing softball with Xavier's dad. Watching Eliahna's dad DJ all around town. Hosting Lexi Rubio's brother for daily basketball games with his own son. Walking to class in high school alongside Irma Reyes."She was the first person that I identified," he said. "Because I knew her."Diaz is, first, a neighbor. But on May 24, 2022, he was the county coroner. It's a routine responsibility for a Justice of the Peace in a county of just under 25,000. But in the hours after his friends were massacred at Robb Elementary School, he was the first to identify their bodies as they lay inside their fourth-grade classroom."It was a horrific scene," he said. "The pictures that you see of Robb School when you're looking at the hallway, you're seeing those clean floors, green walls. To me, I just see red."Moving Forward Diaz is now transforming those ...

Tree fell on your car? Who's responsible for fixes after severe weather

Published Thu, 26 Dec 2024 04:30:06 GMT

Clay Snodgrass showed KXAN investigators damage to his car after an ice storm. (KXAN Photo/Arezow Doost)AUSTIN (KXAN) — Clay Snodgrass looked for a parking space across his south Austin apartment complex. He recalled ice had started building on trees and he worried about his car. "I started to try to look for a parking spot that didn't have a tree over it. I didn't find one. And came back to my original spot where I park all the time," he said. Several hours later on that February day, Snodgrass said the ice storm toppled the tree on his car."There were two stumps stuck in the top... and on the trunk," he described. "There's just lots of dents and damages and dings to it."He said there were many tree branches that had crashed under the weight of the ice across the complex. READ: Your photos help show the scope of the historic 2023 Central Texas ice storm "I thought 'Oh my gosh, I'm gonna have to call the apartment complex and find out who their insurance is' — so that wa...