ads by Clixsense

Wednesday, July 27, 2022

Another rate hike is ahead

What will Fed interest rate hike mean for you? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

Daily Briefing
 
Wednesday, July 27
Picture of the Federal Reserve Building
Another rate hike is ahead
What will Fed interest rate hike mean for you?

The Fed's ready for another big interest rate hike. The last two former Minneapolis police officers will be sentenced for violating George Floyd's civil rights. WNBA star Brittney Griner is expected to testify when her trial resumes in Russia.

It's Jane, with Wednesday's news. 

👩‍⚕️ Up first: Natalia Dyer is beautiful. But a nurse practitioner had some thoughts on how the "Stranger Things" actress could "enhance" her appearance. In a viral TikTok video, Miranda Wilson explained what she would hypothetically do to Dyer's face as her facial injector. The exhaustive list of suggestions included lip filler; Botox to "help slim the face;" a brow lift; and chin filler to "make her face more of a heart shape." Wilson has since apologized in a new video — but not before thousands of fans called out the "weird" and unwarranted comments about someone's appearance. Read more.

More news to know now:

📺 "Leave It to Beaver" actor Tony Dow, who played Wally Cleaver in the popular sitcom, is in hospice, according to reports.

⚖️ The parents of 6-year-old Jesse Lewis are seeking two awards of $75 million for conspiracy theorist Alex Jones' portrayal of the death of their son and 25 others at Sandy Hook Elementary School as a hoax, their lawyer announced.

🥵 Seattle breaks record-high temperatures as Pacific Northwest braces for a multiday heat wave.

💲A giant Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers Tuesday night and won the top prize.

💊 CVS Pharmacy has a similar policy to Walgreens, which allows pharmacists to deny prescriptions that conflict with their religious or moral beliefs, such as birth control or condoms.

🎧 On today's 5 Things podcast, patient safety reporter Karen Weintraub takes a deep dive on obesity in America in part one of a two-part series. You can listen to the podcast every day on Apple PodcastsSpotify, or on your smart speaker.

The Fed is expected to announce an interest rate hike

The Fed is expected to announce another interest rate hike at the end of its 2-day Federal Open Market Committee meeting Wednesday afternoon. The release of the Consumer Price Index this month revealed that inflation rose 9.1% in June compared with the same time last year, marking the largest increase since November 1981. Higher interest rates are meant to slow the economy, which can stunt revenues for companies, potentially damaging their growth and stock prices, according to Forbes. Although the Fed doesn't directly control all interest rates, when it raises the federal funds rate, all other interest rates eventually follow suit, including adjustable-rate mortgages, credit cards, home equity lines of credit, and other loans.  

💰The Fed's ready for another big interest rate hike: This is what it means for you.

Just for subscribers:

🚀 Russia plans to leave the International Space Station by 2024. Can it stay in orbit?

😷 Lawmakers test positive for COVID: Votes on a number of bills have been slowed in Congress due to the relentless epidemic.

⚖️ Report: Chief Justice John Roberts tried to persuade the rest of Supreme Court to keep Roe v. Wade in place.

🚬 Targeted menthol cigarette ads led to high usage among Black people. Should they be banned?

These articles are for USA TODAY subscribers. You can sign up here

Are you already a subscriber and want all of the subscriber-only content emailed to you directly every day? We can do that! Sign up for the Your Day newsletter.

2 ex-Minneapolis cops face sentencing for violating George Floyd's rights

The last two former Minneapolis police officers to be sentenced for violating George Floyd's civil rights are scheduled to learn their penalties Wednesday. J. Alexander Kueng and Tou Thao were convicted in February in the May 2020 slaying. The jury found they deprived Floyd, a 46-year-old Black man, of medical care, and failed to stop Derek Chauvin as he knelt on Floyd's neck for 9 1/2 minutes. Kueng held Floyd's back, former Officer Thomas Lane held his feet and Thao kept back bystanders, some of whom recorded video that led to worldwide protests. Chauvin, who pleaded guilty last year to violating Floyd's civil rights and the civil rights of a teenager in an unrelated case, was sentenced to 21 years in federal prison. Lane, who twice asked if Floyd should be rolled onto his side so he could breathe, was sentenced to 2 1/2.

✋ "Enough": Biden signs police reform order on two-year anniversary of George Floyd killing.

Brittney Griner's trial continues in Russia

The Russian drug trial of WNBA star Brittney Griner is expected to reconvene Wednesday after Tuesday's session was temporarily halted due to a U.S. State Department official fainting in the courtroom, Russian media reported. Griner, a 31-year-old two-time Olympic gold medalist, has been in custody since being arrested on drug charges at a Moscow-area airport in mid-February while returning to play basketball for a Russian professional team, days before Russia invaded Ukraine. She has pleaded guilty and acknowledged that she was carrying vape canisters containing cannabis oil. Griner said she accidentally packed the cannabis, which was prescribed by a physician, in her luggage and had no criminal intent. She could face up to 10 years in prison.

Brittney Griner, who is currently detained in Russia, is depicted in a mural created by artist Isaac Campbell in Washington, DC.
Brittney Griner, who is currently detained in Russia, is depicted in a mural created by artist Isaac Campbell in Washington, DC.
STEFANI REYNOLDS, AFP via Getty Images

White House rewrites rules to push more affordable housing with COVID-19 rescue funds

New guidance from the Treasury Department Wednesday gives local and state governments greater flexibility to address affordable housing with their share of $350 billion in direct aid from the American Rescue Plan – President Joe Biden's signature COVID-19 stimulus law passed in March 2021 . The guidance will lead to several key changes. First, state and local governments will be able to use American Rescue Plan funds to finance long-term affordable housing loans to nonprofits and developers. Second, new rules allow cities and states to direct rescue funds to six additional federal housing programs – opening up money for low-income housing credits, affordable housing preservation, supportive housing for the elderly and disabled, and public housing capital funds.

😷 President Biden's COVID-19 symptoms "almost completely resolved," physician says.

ICYMI: Some of our top stories yesterday

🛰 Russia quitting space station could trigger program "nightmare"; Brittney Griner awaits prison fate: Tuesday's Ukraine updates.

🚨1 dead after "historic" rainfall causes flash flooding in St. Louis area.

💰 In 2023, Social Security is going to look different. Here are four big Social Security changes coming that retirees need to know about.

🤑 Raising Cane's CEO to buy 50K Mega Millions tickets, hopes to share prize with employees

Russia's Gazprom set to make drastic cut to Europe's gas supply

Russian energy giant Gazprom on Wednesday halved the amount of natural gas flowing through its major Nord Stream 1 pipeline to Europe, dropping the flow to about 20% of normal capacity . In an announcement Monday, the company blamed the need to overhaul a pipeline turbine. Germany, however, accused Gazprom of politically motivated stall tactics, and Ukraine President Volodymyr Zelenskyy said, "All this is done by Russia deliberately to make it as difficult as possible for Europeans to prepare for winter." On Tuesday, European Union energy ministers agreed to curb their total gas consumption by 15% in response to what EU Commission President Ursula von der Leyen called "Putin's energy blackmail."

📸 Photo of the Day: Oak Fire rages near Yosemite 📸

An air tanker flies past flames while battling the Oak Fire in Mariposa County, Calif., Sunday, July 24, 2022.
An air tanker flies past flames while battling the Oak Fire in Mariposa County, Calif., Sunday, July 24, 2022.
Noah Berger, AP

A lethal combination of low humidity, high temperatures and dry winds have fed California's largest wildfire this year so far. The Oak Fire erupted Friday in Mariposa County, displacing thousands in the mountain communities near Yosemite National Park, before growing to more than 28 square miles Tuesday. Read more.

See photos of the Oak Fire and the firefighters battling to extinguish it. 

Contributing: The Associated Press

 

Problem viewing email? View in browser

Unsubscribe Manage Newsletters Terms of Service Privacy Policy/Your California Privacy Rights Privacy Notice Do Not Sell My Info/Cookie Policy Feedback

No comments:

Post a Comment