The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 3.50% to 3.75%, responding to slowing job gains and a rising unemployment rate. The policy statement noted that inflation remains somewhat elevated and economic uncertainty persists. In an unusual display of discord, three...
Federal Reserve Chairman Kevin Warsh addressed the Jackson Hole economic symposium on Friday, emphasizing inflation risks while remaining silent on surging U.S. Treasury yields. Treasury Secretary Scott Bessent had urged central bank intervention to stabilize the bond market, but Warsh's omission dashed expectations for near-term monetary support. Following the remarks,...
The state of New Mexico filed a federal lawsuit against the Trump administration on August 26, alleging that federal agencies and border wall contractors unlawfully drilled unauthorized wells and extracted groundwater in the state's southern region. State Engineer Elizabeth Anderson brought the legal action, claiming that U.S. Customs and Border...
An unverified news lead claims that Tropical Storm Karina in the Eastern Pacific is rapidly intensifying into a Category 3 hurricane, threatening a historic landfall in Southern California. The report asserts that major meteorological models converge on a direct path toward San Diego and Los Angeles, potentially bringing sustained winds...
Hilaria Baldwin says she fits exercise around raising seven children, including “bathroom workouts,” in a Fox News Digital interview published Saturday. The 42-year-old television personality said she runs daily and tries to complete about 30 minutes of cardio, alongside yoga, barre classes and Physique 57 workouts. Baldwin also described a...
Microsoft’s July layoffs are confirmed, not a new August announcement. On July 6, Microsoft said it was eliminating about 4,800 roles, or 2.1% of its global workforce, mainly in commercial and Xbox organizations. Chief People Officer Amy Coleman said the company was aligning people and investments with changing business priorities...
A federal judge has rejected SVB Financial Trust’s effort to recover about $1.7 billion tied to deposits at Silicon Valley Bank, handing the Federal Deposit Insurance Corp. a victory in litigation stemming from the bank’s 2023 collapse. U.S. District Judge Beth Labson Freeman of the Northern District of California ruled...
Climate change has receded as a leading issue in Democratic campaigns, even as scientists warn 2026 could rank among the warmest years recorded. An Associated Press report published Aug. 29 examined the shift through the Massachusetts Democratic Senate primary, where incumbent Sen. Ed Markey faces Rep. Seth Moulton before the...
Federal Reserve officials are confronting a new inflationary challenge from the massive $581 billion U.S. artificial intelligence infrastructure buildout, which is driving up prices for electricity, chips, and software while the anticipated productivity gains lag. The Fed's June policy meeting minutes first cited AI investment as a primary upside risk...
Tadej Pogačar abandoned the Vuelta a España on Saturday after crashing during Stage 8 near Xeraco, Spain, ending his bid to win all three Grand Tours. The five-time Tour de France champion led by 3 minutes, 50 seconds over Enric Mas before the 171-kilometer stage from Puçol to Xeraco. He...
