| | Julius Lasin | Audience editor
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The Federal Reserve is continuing its aggressive push to tame inflation. A National Transportation Safety Board official appeared before lawmakers in the wake of a train derailment in East Palestine, Ohio. And astronomers have an answer for an alien comet's unusual orbit. |
👋 Hi there! It's Julius, and let's get into Wednesday's news. |
Fed hikes interest rate 0.25 point |
The Federal Reserve raised its key short-term interest rate by a quarter percentage point Wednesday, pushing ahead with its aggressive campaign to tame inflation despite financial turmoil following Silicon Valley Bank's collapse. The move is expected to further slow economic activity as it drives up rates for credit cards, mortgages and other loans. Fed officials forecast another quarter point in rate increases this year to a peak range of 5% to 5.25%, in line with its December estimate and lower than the level markets anticipated before the bank's meltdown. Read more about the impact of the latest rate hike. |
Controversial for-profit school receives most GI Bill funds again |
The University of Phoenix has continued to receive more GI Bill funding than any other institution of higher learning , despite its history of government scrutiny for misleading veterans. The Veterans Affairs Department sent the for-profit school $1.6 billion in GI Bill funds from 2013 to 2021 for students who enrolled in online and in-person classes. The GI Bill is intended to help veterans get a college education, but it's also an attractive form of revenue for colleges. |
What everyone's talking about |
NTSB official pushes lawmakers for more rail safety measures |
National Transportation Safety Board Chair Jennifer Homendy urged lawmakers Wednesday to take up additional safety measures in light of Norfolk Southern's train derailment in East Palestine, Ohio, last month. Further safety measures could include broadening the definition of a high-hazard flammable train, phasing out less protective tank cars and requiring railroads to maintain crash recording data with at least 12 hours of recording capabilities. Homendy's appearance in front of lawmakers came just days after Environmental Protection Agency Administrator Michael S. Regan said he believed Norfolk Southern should be moving faster to remove contaminated soil from East Palestine. |
The answer behind the strange orbit of an alien comet |
Years after the outer-space object 'Oumuamua flew through our solar system and captured our imaginations, astronomers have answers behind its strange orbit. The object's orbit was unusual, as it accelerated away from the sun in a way that astronomers could not explain, leading some to suggest that it was an alien spaceship. But according to a new study published Wednesday, the odd orbit can be explained by a simple physical mechanism that's likely common among many icy comets: outgassing of hydrogen as the comet warmed up in the sunlight. Learn more about 'Oumuamua and its orbit. | An artist's depiction of the interstellar comet 'Oumuamua.
NASA, ESA and Joseph Olmsted and Frank Summers of STScI | | | | A male student shot two faculty members at a Denver high school early Wednesday morning and was at large, police and school officials said. | | | | Inflation, aggressive Fed rate hikes, failed banks are creating market havoc that's crushing new retirees' futures. Will they be able to recover? | | | | The death toll rose to 7 and Ukraine's president angrily decried Russian military tactics after a drone attack decimated the dorm near Kyiv. Updates. | | | | Chances are that if you have any form of social media, you've probably heard the term "gaslighting" thrown around. | | | | Aiden Fucci, now 16, pleaded guilty last month in the death of 13-year-old classmate Tristyn Bailey, stabbed 114 times in Florida in 2021. | | | | Of 16 remaining teams in men's NCAA Tournament, only four have won a national title. Seven of the Sweet 16 teams have never even been to a Final Four. | | | | Jokes aside, a Supreme Court case pitting Jack Daniel's against a 'poop-themed' dog toy could have serious implications for other well-known products. | | | | Coming off her Oscar-nominated turn in Brendan Fraser drama "The Whale," Hong Chau is everywhere this spring with "Showing Up" and "The Night Agent." | | | | After nine years, the sixth generation Camaros will come off the assembly line at the Lansing Grand River Assembly Plant in January 2024. | | | | After eight years and in the wake of the Alex Murdaugh trial, Stephen Smith's death in South Carolina has been ruled a homicide. Here's what to know. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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