Fed's Powell sticks with patient approach to rate cuts, brushing off Trump's demands
WASHINGTON (AP) — The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth …
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Fed's Powell sticks with patient approach to rate cuts, brushing off Trump's demands
WASHINGTON (AP) — The Federal Reserve is leaving its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut. The Fed’s decision Wednesday leaves its key short-term rate at about 4.3%, where it has stood after the central bank reduced it three times last year. Chair Jerome Powell has said the Fed would likely have cut rates already if not for Trump’s sweeping tariffs. Powell and other Fed officials say they want to see how Trump’s duties on imports will impact inflation and the broader economy. Two Fed governors dissented in favor of a cut.
Trump announces 25% tariff on India and unspecified penalties for buying Russian oil
WASHINGTON (AP) — President Donald Trump says the United States and India are still negotiating on trade despite new tariffs slated to begin in a few days. Trump told reporters Wednesday he'll "see what happens.” India's government says it’s studying the implications of Trump’s announcement he'll impose a 25% tariff on goods from India, plus an additional import tax because of its purchasing of Russian oil. Trump intends to charge an additional “penalty” starting Friday as part of the launch of his administration’s revised tariffs on multiple countries. India’s Trade Ministry says it remains committed to negotiating a “fair, balanced and mutually beneficial” bilateral trade agreement.
Tsunami evacuations ordered in South America, but worst risk appears to pass for US after huge quake
HONOLULU (AP) — Fears of a devastating tsunami across the Pacific were fading after one of the strongest earthquakes ever recorded struck off a sparsely populated Russian peninsula, but communities along South America’s Pacific coast carried out evacuations and closed beaches. Warnings after the 8.8 magnitude quake sent people fleeing to rooftops in Japan and snarled traffic in Hawaii. Japan said one person died during its evacuations, and 21 were injured or became ill due to the hot weather at the time. Several people were hurt in Russia while rushing out of buildings. Tsunami waves swept into a Russian port and struck seaside areas of Japan, Hawaii and the U.S. West Coast but did not appear to cause major damage.
FACT FOCUS: No, Oprah Winfrey didn't block access to a private road amid tsunami warning evacuations
Oprah Winfrey's representative and the president of Haleakala Ranch confirmed that a private road on Maui is owned by the ranch and not Winfrey. An 8.8 magnitude earthquake off a Russian peninsula prompted evacuation orders in Hawaii and elsewhere on Tuesday. False social media claims spread that Winfrey didn’t immediately allow public use of a private road during the evacuations for residents to flee, and later relented due to public pressure. Hawaii residents were advised late Wednesday to return to their homes but remain vigilant and stay out of the water.
NYC gunman bought his rifle from his boss in Las Vegas
NEW YORK (AP) — Authorities say the man who killed four people at a Manhattan office building bought the rifle he used in the attack and the car he drove across country from his supervisor at a Las Vegas casino. Police say Shane Tamura fatally shot four people in the building that houses the National Football League’s headquarters on Monday before killing himself. New York police said Wednesday that Tamura’s supervisor at the Horseshoe Las Vegas legally bought the AR-15-style rifle he sold to Tamura for $1,400. Police said a search of Tamura's Las Vegas apartment turned up a psychiatric medication and other drugs that had been prescribed to him. Police say he believed he had a brain disease linked to contact sports and accused the NFL of hiding the dangers of playing.
Unsettled by NYC shooting, companies wonder if their offices are safe
NEW YORK (AP) — Businesses across the U.S. are reevaluating security after a shooting at a New York City office building raised concerns about workplace safety. The attack on a seemingly secure tower left four people dead and has companies desperate to prevent similar incidents. Security firms around the country say they're getting a spate of calls from corporations anxious to make sure the measures they have in place are adequate. The building where the attack happened — 345 Park Avenue in midtown Manhattan — did have security systems in place. A New York Police Department officer working a uniformed security assignment was on duty, but was among the victims of the attack.
Malta says it will recognize the state of Palestine, joining France and possibly Britain
UNITED NATIONS (AP) — Canada and Malta announced Wednesday they will formally recognize the state of Palestine in September, joining France and the United Kingdom in stepping up pressure to end the nearly 80-year Israeli-Palestinian conflict. Canadian Prime Minister Mark Carney made the announcement after a Cabinet meeting, while Christopher Cutajar, the permanent secretary at Malta’s Foreign Ministry, made his country's announcement at the U.N. General Assembly’s meeting on a two-state solution to the conflict which has been extended to a third day on Wednesday because of the high number of countries wanting to speak. The two nations will join more than 145 countries, including over a dozen European nations, in recognizing the state of Palestine.
Colorado dentist convicted of murder, gets life sentence for lacing wife's shakes with poison
CENTENNIAL, Colo. (AP) — A Colorado dentist has been convicted of murder in the poisoning death of his wife and sentenced to life in prison without possible parole. Jurors found James Craig guilty of first-degree murder on Wednesday. Prosecutors had accused Craig of repeatedly poisoning his wife Angela Craig, including by lacing her smoothies, over 10 days in 2023. When those attempts failed, prosecutors said, James Craig gave her a final dose of cyanide as she was hospitalized in suburban Denver. Craig stood in a hushed courtroom as the jury delivered guilty verdicts on murder and other charges. Afterward, the court heard emotional statements from the victim's relatives before the judge sentenced Craig to life in prison.
Brown University strikes agreement with Trump administration to restore lost federal funding
WASHINGTON (AP) — Brown University has reached a deal with the federal government to regain access to federal research funding and end investigations into alleged discrimination. The Ivy League school agreed to pay $50 million in workforce development grants in Rhode Island over 10 years as part of the agreement. Brown President Christina H. Paxson said the deal preserves Brown’s academic independence. The terms include a clause saying the government cannot dictate the curriculum or the content of academic speech at Brown.
Shohei Ohtani leaves the mound with cramping vs. Reds but hopes to make next start
CINCINNATI (AP) — Los Angeles Dodgers two-way superstar Shohei Ohtani is hopeful that he will be able to make his next mound start after his outing Wednesday night was cut short by cramping in his right hip. Ohtani was scheduled to go four innings on a hot, humid night against the Cincinnati Reds. But he left without recording an out in the fourth after he threw six straight balls, including two consecutive wild pitches. The 31-year old reigning NL MVP said he started to cramp in the first inning. Ohtani and manager Dave Roberts both blamed the cramping on the weather.