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The Federal Reserve isn't cutting interest rates – yet. The United States falls on the list of happiest countries in the world. And a federal appeals court will decide the future of a closely watched Texas border law. |
👋 Happy Wednesday! Julius and Spencer here with today's news. |
What did the Fed have to say about rate cuts and the economy? |
What is the current Fed rate? The Fed's benchmark short-term rate was left at 5.25% to 5.5%, a 23-year high. That means Americans will keep paying steep borrowing costs for now. But Fed officials maintained their projection that they'll lower the federal funds rate to a range of 4.5% to 4.75% by year's end. |
What is the prediction for the economy in 2024? The Fed said it expects the economy to grow 2.1% in 2024, well above its prior 1.4% estimate. For comparison, the economy grew a sturdy 3.1% in 2023, as measured from the fourth quarter of 2022 to the fourth quarter of 2023. |
What about the job market? The 3.9% unemployment rate is projected to end 2024 at 4%, a bit lower than the December forecast, the Fed's median estimate shows. | Federal Reserve Chair Jerome Powell in March. The Fed left its key interest rate unchanged on Wednesday. Jasper Colt, USA TODAY |
Where is the happiest place on Earth? (Hint: It's not the US) |
The 2024 World Happiness Report, a list of the happiest countries in the world, was released Wednesday. At the top of the list are Nordic countries Finland, Denmark, Iceland and Sweden. But for the first time since the report was first released 12 years ago, the United States isn't ranked in the top 20. It sits at No. 23. And among young people – folks younger than 30 – the U.S. fared even worse, ranking 63rd. Here's what else the report showed. |
Fate of Texas border law now in the hands of an appeals court |
A federal appeals court heard arguments Wednesday on a controversial Texas immigration law that would authorize state and local police to arrest and deport migrants. The hearing, to determine whether the law can be enforced pending the latest appeal, came hours after the same court issued a hold late Tuesday on SB 4, which would make crossing into Texas from a foreign country anywhere other than a legal port of entry a misdemeanor on the first offense and a felony after that. That ruling had come hours after the U.S. Supreme Court paved the way for the law to take effect Tuesday. Read more about Wednesday's hearing. |
Watch the women's NCAA tourney like a pro 🏀 |
More people are getting a double dose of March Madness this year. Women's college basketball has surged in popularity, helped along by stars like Iowa's Caitlin Clark – whose name recognition far outpaces the biggest names in the men's game this season. So as the women's NCAA tournament officially gets underway with the First Four games tonight, we've got your guide for how to watch like a pro. | Caitlin Clark, shown after Iowa won the Big Ten Tournament title at the Target Center on March 10, is the most recognizable player in college basketball this season, according to a poll. Lily Smith, The (Des Moines) Register/USA TODAY NETWORK | | | | A new undercover action by Everytown for Gun Safety exposed a lack of age verification on popular ammo retailers online. | | | |  | The video meeting comes nearly a week after Senate Majority Leader Chuck Schumer called for Israel to hold elections to replace Netanyahu. | | | | As onlookers speculate about a royal doppelgänger, the farmer's market video and more, the rumors about Princess Kate are hitting a crescendo. | | | | Gov. Mike DeWine pledged to support former President Donald Trump's pick Bernie Moreno and to vote for the former president in November. | | | | The $14.9 billion sale, which would end U.S. ownership of the nation's second largest steelmaker, is under review by CFIUS | | | | The former president and other defendants say Georgia judge didn't go far enough in ousting Willis' former boyfriend from case. | | | | Every season, there are always a few teams that destroy NCAA Tournament brackets across America. Here is who has the chance to do it this time around. | | | | You have until April 30 to consolidate your student loans for a one-time payment adjustment that may get your loans canceled or at least closer to it. | | | | Marcello Hernandez, an "SNL" writer and comedian, dishes on how he preps for the sketch comedy show, working with Bad Bunny, and more. | | | | Over 116,000 Mercedes-Benz are being recalled because a loose 48-volt ground connection may increase the risk of a fire. | | | | | 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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