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Powell likely to underscore inflation concerns even as Fed leaves key rate unchanged

Published Wed, 27 Nov 2024 04:57:37 GMT

WASHINGTON (AP) — For the first time in nearly two years, the Federal Reserve is set Wednesday to keep its key short-term interest rate unchanged for a second straight policy meeting — the clearest sign to date that the Fed is edging closer to the end of its rate-hiking campaign. The Fed is standing pat, for now, in part because the economy has been moving mostly in the direction that Chair Jerome Powell has hoped for: Inflation has tumbled, even though hiring, consumer spending and economic growth have remained robust. A widely predicted recession hasn’t materialized.But the deceleration of inflation has slowed, and solid economic growth could keep inflation elevated or even send it higher. As a result, Powell and other Fed officials aren’t yet willing to take a final rate hike off the table. At a new conference Wednesday, Powell will likely highlight the progress the central bank has made while still underscoring that inflation remains too high and that future rate hik...

Today in History: November 1, Clarence Thomas joins the Supreme Court

Published Wed, 27 Nov 2024 04:57:37 GMT

Today in History Today is Wednesday, Nov. 1, the 305th day of 2023. There are 60 days left in the year. Today’s Highlight in History: On Nov. 1, 1991, Clarence Thomas took his place as the newest justice on the Supreme Court. On this date: In 1478, the Spanish Inquisition was established. In 1512, Michelangelo’s just-completed paintings on the ceiling of the Vatican’s Sistine Chapel were publicly unveiled by the artist’s patron, Pope Julius II. In 1604, William Shakespeare’s tragedy “Othello” was first presented at Whitehall Palace in London.In 1765, the Stamp Act, passed by the British Parliament, went into effect, prompting stiff resistance from American colonists.In 1861, during the Civil War, President Abraham Lincoln named Maj. Gen. George B. McClellan General-in-Chief of the Union armies, succeeding Lt. Gen. Winfield Scott. In 1870, the United States Weather Bureau made its first meteorological observations.In 1936, in a speech in Milan, Italy, Benito Mussolini described the a...

Chicago Bears upgrade their pass rush in a trade-deadline deal for defensive end Montez Sweat

Published Wed, 27 Nov 2024 04:57:37 GMT

A year after adding a wide receiver ahead of the NFL trade deadline, the Chicago Bears are attempting to boost their pass rush with a splashy move that general manager Ryan Poles must be hoping has a long-term payoff.The Bears traded a 2024 second-round draft pick Tuesday to the Washington Commanders for defensive end Montez Sweat.Sweat, who leads the Commanders with 6 1/2 sacks, immediately becomes the best edge defender for the Bears, who are last in the NFL with 10 sacks.“Montez is a huge addition to our team,” Poles said in a statement. “He is not only a great player but a great person. We expect him to help elevate our defense.”The Bears can negotiate a contract extension with Sweat or use the franchise tag to secure him before free agency starts in March. They are projected to have about $100 million in salary-cap room, so space to pay Sweat would not be an issue.It would not be surprising if the Bears already are working on a new contract for Sweat wit...

Column: Chicago Bears GM Ryan Poles assumed risk in Montez Sweat trade, but free agency and the draft make it a worthy gamble

Published Wed, 27 Nov 2024 04:57:37 GMT

No high-profile trade comes without an element of risk.Chicago Bears general manager Ryan Poles assumed one when he made another big deadline-day deal Tuesday, sending a second-round draft pick to the Washington Commanders for defensive end Montez Sweat, a formidable addition to a defense utterly lacking a pass rush.Poles bet on himself and his staff that they can get Sweat to stick with the Bears in the long term and be part of a second wave of roster overhaul. If so, he will be a foundational piece for the defense. That is the risk in the move for Sweat, who the Bears will pay $6.5 million for the final nine games of the season before his contract expires.Of course, the Bears could consider a franchise or transition tag to keep Sweat in place or create more time for negotiations, but at this point, they have to be hoping it won’t come to that. Poles also has the future of Jaylon Johnson to consider after the cornerback briefly had permission to seek a trade with nothing mate...

Cornerback Jaylon Johnson stays with the Chicago Bears despite a late request before the NFL trade deadline

Published Wed, 27 Nov 2024 04:57:37 GMT

Jaylon Johnson will stay with the Chicago Bears this season despite his exploration of a last-minute deal before the NFL trade deadline Tuesday.A source confirmed an ESPN report late Monday that Johnson requested a trade and the Bears gave him permission to search for a new home. But a deal for Johnson didn’t work out before the 3 p.m. deadline.Now the Bears can keep their top cornerback for the final nine games, and general manager Ryan Poles has until free agency begins in March to work out a long-term contract. The Bears also could use the franchise or transition tag.However, CBS Sports’ Josina Anderson reported Johnson does not plan to engage in contract talks the rest of the season.Johnson, who is in the final year of his rookie deal, made it known for months he would like an extension with the Bears. But he said Thursday that contract extension talks with the Bears were “slower than expected.” When asked last week what he was seeking, he said “sec...

Semien’s 5 RBIs ignite Rangers as they beat Diamondbacks 11-7 for 3-1 World Series lead

Published Wed, 27 Nov 2024 04:57:37 GMT

PHOENIX (AP) — Marcus Semien’s two-run triple and three-run homer powered Texas to a 10-run lead by the third inning, Corey Seager hit another long home run and the Rangers beat the Arizona Diamondbacks 11-7 on Tuesday night to move ahead three games to one in the World Series.Rangers batters whipped through Diamondbacks pitching like a desert storm, taking a 10-0 lead and becoming the first team in Series history with consecutive five-run innings. Seager’s third two-run homer of the Series capped the second, Semien’s drive punctuated the third and Jonah Heim added an eighth-inning shot.Texas improved to a record 10-0 on the road this post-season and moved within one win of the first title in the 63-season history of a franchise that started as the expansion Washington Senators in 1961.Nathan Eovaldi tries to close out the third all-wild card Series on Wednesday night against Zac Gallen in a rematch of Game 1 starters.Forty-two of 49 previous teams to take 3-1 leads have gone ...

Early Season Snows Come to Chicago on Halloween, with heavy totals in Upper Midwest. Temps rebound for the weekend

Published Wed, 27 Nov 2024 04:57:37 GMT

Modeling hints at spotty weekend showers—but with a number of dry hours amid the more seasonable temps being predicted.It's early next week—i.e. Monday and Tuesday—when a wet autumn storm system is to bring more widespread and chilly rain to the area with some projections putting down over an inch of rain.  And in that system's wake, chilly temps return with highs Tuesday forward next week likely to remain in the 40s (except close to 50 on Tuesday).

Veterans Voices: Grammy-nominated veteran gives back to fellow service members through the L1fe Organization

Published Wed, 27 Nov 2024 04:57:37 GMT

WASHINGTON (NEXSTAR) -- B. Taylor is a hip-hop artist, producer, and songwriter, with two Grammy nominations for his music."You have to have the correct vocals. You have to have the right message. You have to have the right instrumentation," Taylor said.He's also a veteran who joined the Navy in 2001."They attached me to be with the special ops, which was Navy SEALs at the time, recon," Taylor said.He served until 2006, when he received a temporary assignment duty in San Diego to pursue a professional football career. But little did he know, his life would change after a trip to Los Angeles."I was playing the piano. I was approached by a guy who had a huge afro, he was like hey man, my brother is famous, that's my mom's favorite song Ribbon in the Sky by Stevie Wonder, can you come meet him? It's Snoop Dogg," Taylor said.His transition into the music industry gave him insight into the challenges many military members worry about when considering life after their service."Please don'...

1 hospitalized after truck crashes into Hollywood pizza shop

Published Wed, 27 Nov 2024 04:57:37 GMT

At least one person is hospitalized after a multi-vehicle collision sent a truck crashing through a pizza shop in Hollywood on Tuesday night. The victim was only identified as a 32-year-old man by the Los Angeles Fire Department. His condition was not released.Authorities responded to a three-vehicle crash at Raffallo's Pizza shop near 1657 N. La Brea Ave. around 9:30 p.m.Sky5 video showed a large police, fire and emergency crew presence at the intersection of La Brea Avenue and Hollywood Boulevard. Some debris could be seen strewn across the roadways.At least one person is hospitalized after a three-vehicle collision sent a truck crashing through a pizza shop in Hollywood on Oct. 31, 2023. (KTLA)At least one person is hospitalized after a three-vehicle collision sent a truck crashing through a pizza shop in Hollywood on Oct. 31, 2023. (KTLA)At least one person is hospitalized after a three-vehicle collision sent a truck crashing through a pizza shop in Hollywood on Oct. 31, 20...

Family, friends remember 24-year-old killed by hit-and-run driver in Hollywood

Published Wed, 27 Nov 2024 04:57:37 GMT

Family, friends and former high school classmates gathered Tuesday to remember a 24-year-old man who was headed home on a scooter after celebrating his birthday when he was struck and killed by a hit-and-run driver.  Tommy Sanchez, who had recently moved to Hollywood, was on Western Avenue north of Sierra Vista Avenue at around 2:30 a.m. when he was fatally hit by a driver in a black sedan and failed to stop, identify themselves or render aid, according to police.  “I haven’t processed the fact that he’s no longer with us, but I’m doing my best to go little by little,” Tommy’s father, Javier Sanchez, told KTLA’s Rachel Menitoff.  The victim’s mother, Yerlin Catalan, was unable to hold back tears as she spoke to KTLA.  “My son passed away, it’s not fair,” she said. “My son needs to be in life because he’s only 24-years-old.” Tommy Sanchez was struck and killed by a hit-and-run driver in Hollywood on Oct. 29, 2023. (Sanchez Family)Dash-cam video from a nearby ...