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Fed raises key rate but hints it may pause amid bank turmoil

Published Wed, 26 Feb 2025 21:30:47 GMT

By CHRISTOPHER RUGABER (AP Economics Writer)WASHINGTON (AP) — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause the streak of 10 rate hikes that have made borrowing for consumers and businesses steadily more expensive.In a statement after its latest policy meeting, the Fed removed a sentence from its previous statement that had said “some additional” rate hikes might be needed. It replaced it with language that said it will consider a range of factors in “determining the extent” to which future hikes might be needed.Speaking at a news conference, Chair Jerome Powell said the Fed has yet to decide whether to suspend its rate hikes. But he pointed to the change in the statement’s language as confirming at least that possibility.The Fed’s rate increases since March 2022 have more than doub...

1 dead, 4 hurt in shooting inside Atlanta medical building

Published Wed, 26 Feb 2025 21:30:47 GMT

By JEFF AMY (Associated Press)ATLANTA (AP) — One person was fatally shot and at least four others injured Wednesday in a shooting at a medical building in Midtown Atlanta, police said.Atlanta police said there had been no additional shots fired since the initial shooting unfolded inside a Northside Medical building on West Peachtree Street in a commercial area with many office towers and high-rise apartments. Atlanta police said the suspected shooter is believed to be Deion Patterson, 24, and that he was considered armed and dangerous.The four injured people were taken to a hospital for treatment and the fifth person was pronounced dead at the scene.The shooting comes as cities around the U.S. have been wracked by gun violence and mass shootings in 2023.Police sent out a photo of the suspect. He was wearing dark pants and a light colored hoodie with the hood pulled up. He had a mask on his face and appeared to be wearing a bag across his front. Authorities asked anyone with in...

Mets Notebook: Justin Verlander says ‘it’s funny how baseball works’ with first start coming vs. Tigers

Published Wed, 26 Feb 2025 21:30:47 GMT

DETROIT — Comerica Park was where it all started for Justin Verlander 18 years ago.Thursday, it will be the site of another start for the veteran ace: The start of his Mets career.Verlander, the Mets’ marquee offseason acquisition, is set to come off the injured list Thursday against the Detroit Tigers to make his first start of the 2023 season more than a month after it began. He’s been out with a teres major strain since Opening Day and he’s been eager to make an impact on his new team and show the fans what he can do.“It’s funny how baseball works,” Verlander said Tuesday. “I wouldn’t like to start the year on the IL at all, but baseball always tends to have some funny stories and connections. Here I am, my first start as a Met in Detroit.”It’s almost like it’s 2012 again with Verlander pitching in the same rotation as Max Scherzer. But one look at the Tigers record and you remember that illustrious era has p...

Knicks-Heat prepare for ‘gladiator battle’ in Game 3

Published Wed, 26 Feb 2025 21:30:47 GMT

As the 1-1 series shifts to South Beach and Jimmy Butler’s ankle gets three days to heal, Heat coach Erik Spoelstra was gearing up for a battle that the Roman Empire could appreciate.“If you’re a basketball aficionado, you have to love this series. You have great competition. Guys going after it,” Spoelstra said. “Leaving nothing to chance. Both teams probably could use an extra day just to gear up for the gladiator battle that’s about to ensue on Saturday.”The Knicks won the hustle game Tuesday night, specifically on the glass down the stretch. The possession that shifted the victory toward New York lasted over a minute and included four offensive rebounds, ending with a Josh Hart corner 3-pointer that knotted the score at 96 with 4:45 remaining.The Knicks, at that point, were riding high off their workman backup center, Isaiah Hartenstein, who was owning the boards and drawing a proper Garden appreciation. The Heat went cold while losing t...

Bruins beat: Brad Marchand has all the qualities of a captain

Published Wed, 26 Feb 2025 21:30:47 GMT

No one knows whether Patrice Bergeron will be back for another year.But if Bergeron does decide to hand over his No. 37 to equipment manager Keith Robinson for its inevitable ascension to the Garden rafters, there should be little doubt about which player should be getting the ‘C’ that’s been affixed to that jersey the last few of years.As he’s matured and grown from being a player who wrestled with – and often lost to – his emotions on the ice, Brad Marchand has grown into an insightful voice in the dressing room who is as good as anyone in articulating the state of the team.And the competitiveness that has always been the hallmark of his game was plainly evident in the playoffs. He was able to elevate his game from the regular season – when he battled inconsistency following double hip surgery – to record 10 points in the seven-game loss to the Panthers. When  Bergeron and David Krejci were out, Marchand was the tone-setter for the team that bui...

COPA releases police bodycam video of Reginald Clay Jr.'s fatal shooting

Published Wed, 26 Feb 2025 21:30:47 GMT

CHICAGO — Body camera video was released Wednesday by the Civilian Office of Police Accountability in a fatal police-involved shooting last month.The shooting occurred in the 3800 block of West Flournoy in Garfield Park on April 15. According to preliminary information, COPA says the incident started when two officers approached a group of people and one person started to walk away — but then fled.The person, identified as 24-year-old Reginald Clay Jr., was pursued on foot by the two officers to a gangway with no exit.According to video released by COPA, Clay attempted to exit the gangway in the direction of the officers, and one of the officers opened fire and shot him. Clay died later from his injuries.COPA said Clay had a firearm, which was recovered at the scene. 1 killed, 3 injured in Atlanta ‘active’ shooting; suspect at large, police say COPA will conduct an investigation to determine if the officers' actions followed Chicago Police Department policy and training. Clay's fa...

WATCH LIVE | Fed Chair Jerome Powell discusses Fed raising key rate

Published Wed, 26 Feb 2025 21:30:47 GMT

WASHINGTON (AP) — The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause the streak of 10 rate hikes that have made borrowing for consumers and businesses steadily more expensive.In a statement after its latest policy meeting, the Fed said that while the banking system is “sound and resilient," the upheaval in the financial system could slow borrowing, spending and growth. It reiterated that the impact of pullback in bank lending “remains uncertain.”The Fed's rate increases over the past 14 months have more than doubled mortgage rates, elevated the costs of auto loans, credit card borrowing and business loans and heightened the risk of a recession. Home sales have plunged as a result. The Fed’s latest move, which raised its benchmark rate to roughly 5.1%, could further increase borrowing costs.Yet the Fed’s efforts have only partly ...

Carlsbad-based Jenny Craig closing all locations: report

Published Wed, 26 Feb 2025 21:30:47 GMT

(NEXSTAR) – All Jenny Craig locations will imminently shutter, according to internal communications obtained by NBC News. Hourly employees at Jenny Craig weight loss centers were told by email that their last day was Tuesday, NBC reported. Corporate and salaried employees' last day is set for Friday.Nexstar reached out to Jenny Craig for comment on NBC's reporting, but didn't immediately hear back. Bed Bath & Beyond liquidation sale has started. Here’s what you need to know The company, based in Carlsbad, California, offers meal plans, food delivery and coaching for clients looking to lose weight. The first Jenny Craig weight loss center opened in 1983, the company says. Throughout the 2000s, Jenny Craig commercials were a familiar sight on television, featuring celebrity spokespeople like Valerie Bertinelli, Mariah Carey, Jessica Simpson and Jason Alexander. By 2019, Jenny Craig had grown to 500 locations and employed about 1,000 people, NBC reported. Reports of impending lay...

Iowa State football player from Chicago charged with domestic, sexual abuse

Published Wed, 26 Feb 2025 21:30:47 GMT

AMES, Iowa – A Chicago native who is a member of the Iowa State Cyclone football team was booked Wednesday on sexual abuse and domestic assault charges.Aidan RalphThe charges against Aidan Ralph, 20, stem from a December 2022 incident involving his girlfriend. Criminal complaints filed in the case say Ralph’s girlfriend came to his apartment in the 600 block of S 17th Street in the early morning hours of December 3, 2022. Police say they had been dating for about three years at the time of the incident.They began arguing after Ralph accused the victim of cheating on him. The complaint says he shoved the victim multiple times and then shoved her into a set of stairs. The impact caused a stress fracture to her spine, causing “great pain and visible swelling.” Ralph admitted to police he shoved the victim and his actions caused her injuries. Teamsters oust suburban board after more than $1M in questionable expenses The victim allegedly asked Ralph to call for emergency medical servic...

Biden admin sending troops to southern border as Title 42 ends

Published Wed, 26 Feb 2025 21:30:47 GMT

WASHINGTON (Nexstar) – As the end of Title 42 approaches, the Biden administration says an influx of migrants at the border is expected and plans to send troops to the border.The administration says it will deploy 1,500 troops, who are expected to arrive at the southern border in one week.“For 90 days, these 1,500 military personnel, who will be sourced from the active-duty component, will fill critical capability gaps,” said Pentagon Press Secretary Gen. Patrick Ryder.The Pentagon says the active-duty troops heading to the border are only expected to be there to help deal with the end of Title 42.“These personnel will be performing administrative tasks, like data entry and warehouse support. They will not be performing law enforcement actions or interacting with immigrants,” White House Press Secretary Karine Jean-Pierre said.Those additional troops on administrative duty will free up U.S. Customs and Border Protection agents for border enforcement purposes as an increase in migran...