The Fed raises the rate, but eases its pace

The Fed raised its key short-term interest rate again, but acknowledged a historic inflation spike is slowing. It's Wednesday's news. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Short List   Wednesday, February 1 The Federal Reserve raised its key interest rate (again). The FBI searched for classified documents at President Joe Biden's home (again). And Tom Brady announced his retirement (wait for it – again). 👋 Howdy! It's Julius here. Let's jump into Wednesday's news. But first: Tabasco salad dressing? 🥗 The 154-year-old hot sauce maker has created a bottled dressing, as it seeks to appeal to people intimidated by too much heat. The Short List is a snappy USA TODAY news roundup. Subscribe to the newsletter here. Fed raises key interest rate by 0.25 percentage point The Fed raised its key short-term interest rate by a quarter percentage point Wednesday, throttling back from a half-point hike in December and acknowledging that a historic inflation spike is slowing. But the central bank appears reluctant to signal that its aggressive campaign to beat back price increases is nearing an end even as it begins to balance the benefits of the initiative with growing recession risks. In a statement, the Fed repeated that "ongoing (rate) increases…will be appropriate" to bring down yearly inflation to the Fed's 2% goal.  See the latest on the Fed's decision. Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on Wednesday. Kevin Dietsch, Getty Images FBI searches third location linked to Biden in documents probe The FBI searched President Joe Biden's Delaware beach home Wednesday, as part of an ongoing inquiry into the handling of classified documents. Biden's attorney confirmed the action, saying Wednesday's search was planned with "the president's full support and cooperation." No additional records bearing government classification were recovered at the beach home, the third known location the FBI has searched in connection with unsecured classified documents related to Biden.  Read more about the inquiry. Federal agents leave the outside of the beach home of President Joe Biden. Lauren Roberts, Salisbury Daily Times What everyone's talking about • Beyoncé announces summer dates for long-awaited Renaissance World Tour. • WNBA superstar Breanna Stewart leaves Seattle Storm, joins New York Liberty as free agent. • Planning a U.K. trip? U.S. travelers will soon have to pay a fee to enter. • Bills' Damar Hamlin launches social media campaign to raise awareness and funds for CPR. The Short List is free, but several stories we link to are subscriber-only. Consider supporting our journalism and become a USA TODAY digital subscriber today. Black History Month begins Wednesday marks the start of Black History Month, a federally recognized celebration of the contributions African Americans have made and a time to reflect on the continued struggle for racial justice. Carter G. Woodson, known as the "Father of Black History," developed Black History Month in the 1920s, believing it was essential for young African Americans to understand and be proud of their heritage. "Those who have no record of what their forebears have accomplished lose the inspiration which comes from the teaching of biography and history," he said.  Learn more about Black History Month. Black History Month is a federally recognized celebration of the contributions African Americans have made and a time to reflect on the continued struggle for racial justice. USA TODAY graphic Tom Brady retires – for real this time Tom Brady announced Wednesday morning that he is retiring from the NFL. And, this time, for good. One year to the day after his first retirement announcement, Brady, who won seven Super Bowl titles in his 23-year career, said on social media that he is officially and finally walking away from professional football. "Good morning guys, I'll get to the point right away: I'm retiring. For good," Brady said in a brief video.  Find out more about Brady's retirement.  Tom Brady announced Wednesday morning that he is retiring from the NFL USA TODAY graphic Real quick • Florida rejected AP African American Studies. Here's what's actually being taught in the course. • 'A beautiful soul': Tyre Nichols remembered at funeral. • Gas stoves, explained: Are they actually a 'hazard'? • Advice column: How soon is too soon to have sex when dating someone new? • Lawmakers targeting drag shows with 14 bills across U.S., analysis finds. Trump's first 2024 GOP challenger emerges  Former South Carolina governor Nikki Haley will formally launch her 2024 presidential run on Feb. 15, according to multiple sources familiar with her plans. With the launch of her campaign, Haley will become the first Republican to jump into the field to challenge Donald Trump. Although Haley previously said she would not run for president if Trump did, she has sounded out potential donors and staff members for a White House campaign of her own in recent months.  Read more about Haley. Nikki Haley visits "Hannity" at FOX Studios on Jan. 20 in New York City. Theo Wargo, Getty Images A break from the news • ⚡Why is my electric bill so high? 13 ways to lower it. • 💈 No cash for a haircut? No problem, says generous Maine barbershop owner. • 📸 Samsung vs. Apple: Can the S23 Ultra deliver the 'best pictures and video in the world'? This is a compilation of stories from across the USA TODAY Network. Want this news roundup in your inbox every night? Subscribe to the newsletter here. Holocaust survivor's words about Jesse Owens are important reminder Remembering a Holocaust survivor's words about Jesse Owens at the 1936 Olympics as we kick off Black History Month with "28 Black Stories in 28 Days." 350,000 without power in Texas, 2,300 flights canceled, at least 6... Tom Brady gave everything to the NFL. I hope the price wasn't too... A YouTuber filmed himself curing 1,000 blind people. So why are... Prison, jail staff rarely face legal consequences after sex abuse of... Progressive, State Farm won't insure some Hyundai, Kia cars: What we... How to photograph the rare green comet that is passing by Earth Has national signing day lost its luster? 'It's just not as exciting.' Black History Month 2023: The ultimate museum guide Watch Jimmy Kimmel grill Mike Lindell inside a claw machine   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 © 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102