1 month ago
By Bo Erickson, Padraic Halpin and Conor Humphries
DOONBEG, Ireland, Sept 13 (Reuters) - No country should have lower interest rates than the U.S., President Donald Trump said on Sunday, days before the Federal Reserve's next policy meeting.
Speaking to reporters at the Irish Open golf tournament, Trump said he did not know whether Fed policymakers will raise interest rates at their meeting this week. But he said the U.S. "should be paying the lowest interest rate in the world" no matter what the Federal Reserve's data indicates about inflation and the economy.
The Labor Department's Consumer Price Index, a key measure of underlying inflation, on Friday posted its largest increase in four months. That reinforced expectations that the U.S. central bank will raise the target range for its federal funds rate, now at 3.5% to 3.75%, at the conclusion of its Federal Open Market Committee meeting on Wednesday.
Price pressures remain elevated as the economy deals with Trump's import tax increases and surging energy prices tied to the Iran war. Many at the Fed worry that the longer inflation remains high, the greater the cost will be to get it back to target.
#inflation #price #rate
DOONBEG, Ireland, Sept 13 (Reuters) - No country should have lower interest rates than the U.S., President Donald Trump said on Sunday, days before the Federal Reserve's next policy meeting.
Speaking to reporters at the Irish Open golf tournament, Trump said he did not know whether Fed policymakers will raise interest rates at their meeting this week. But he said the U.S. "should be paying the lowest interest rate in the world" no matter what the Federal Reserve's data indicates about inflation and the economy.
The Labor Department's Consumer Price Index, a key measure of underlying inflation, on Friday posted its largest increase in four months. That reinforced expectations that the U.S. central bank will raise the target range for its federal funds rate, now at 3.5% to 3.75%, at the conclusion of its Federal Open Market Committee meeting on Wednesday.
Price pressures remain elevated as the economy deals with Trump's import tax increases and surging energy prices tied to the Iran war. Many at the Fed worry that the longer inflation remains high, the greater the cost will be to get it back to target.
#inflation #price #rate
2 months ago
By Kanishka Singh
Aug 11 (Reuters) - Powerful storms moved through the U.S. Midwest on Tuesday, leaving at least two people dead and nearly a million without power, officials said.
Here are some details:
• A 4-year-old child died after a tree fell on his home in Geneva Township in Indiana, Jennings County Sheriff's Office Chief Deputy Cody Low said.
• Ohio Governor Mike DeWine said one person died after flooding obstructed first responders from reaching the individual in Roseville.
#singh #powerful
Aug 11 (Reuters) - Powerful storms moved through the U.S. Midwest on Tuesday, leaving at least two people dead and nearly a million without power, officials said.
Here are some details:
• A 4-year-old child died after a tree fell on his home in Geneva Township in Indiana, Jennings County Sheriff's Office Chief Deputy Cody Low said.
• Ohio Governor Mike DeWine said one person died after flooding obstructed first responders from reaching the individual in Roseville.
#singh #powerful
3 months ago
In an exclusive interview with Meet the Press, Sen. John Kennedy (R-La.) discusses concerns over the Trump administration's so-called "anti-weaponization" fund, the subject of the Senate holdup over Todd Blanche's confirmation as attorney general.
#meet #Trump #discusses
#meet #Trump #discusses
3 months ago
DETROIT (AP) — Two people who attended a prestigious Michigan fine arts school reported conduct of a **** ual nature by Jeffrey Epstein, a major donor, according to an investigation that also uncovered dozens of allegations spanning decades against nearly 50 other people.
Interlochen Center for the Arts operates a summer camp and performing arts school that draws students from around the world. It hired a law firm in 2024 to investigate reports of **** ual abuse by faculty and staff. Subsequently, it expanded the work to include information about Epstein, the 66-year-old financier who killed himself in jail in 2019.
Interlochen removed Epstein's name from a lodge after he was convicted of **** offenses in Florida in 2008. The building, renamed the Green Lake Lodge, was recently demolished after the U.S. Justice Department released millions of pages about him that had been compiled over the years.
Sanghavi Law Office says it collected 70 accounts from alumni alleging "physical conduct of a **** ual nature" by 47 faculty and staff members affiliated with Interlochen from the 1950s through the 2010s, most before 2000.
"The information gathered during this investigation is, simply, devastating," the 97-page report says, noting that alumni reported grooming, flirting, **** ual touching and **** .
#sexual #arts #school
Interlochen Center for the Arts operates a summer camp and performing arts school that draws students from around the world. It hired a law firm in 2024 to investigate reports of **** ual abuse by faculty and staff. Subsequently, it expanded the work to include information about Epstein, the 66-year-old financier who killed himself in jail in 2019.
Interlochen removed Epstein's name from a lodge after he was convicted of **** offenses in Florida in 2008. The building, renamed the Green Lake Lodge, was recently demolished after the U.S. Justice Department released millions of pages about him that had been compiled over the years.
Sanghavi Law Office says it collected 70 accounts from alumni alleging "physical conduct of a **** ual nature" by 47 faculty and staff members affiliated with Interlochen from the 1950s through the 2010s, most before 2000.
"The information gathered during this investigation is, simply, devastating," the 97-page report says, noting that alumni reported grooming, flirting, **** ual touching and **** .
#sexual #arts #school
3 months ago
Hundreds of friends, family and community members lined up outside a church to celebrate Nolan Well's life as they continue to come to grips with the 18-year-old's tragic death after a July 4 boat trip with his friends. Rev. Al Sharpton delivered a eulogy demanding answers and questioning the circumstances surrounding Wells' death. NBC's Aaron Gilchrist reports for TODAY.
#death #nolan #july
#death #nolan #july
3 months ago
By Phil Stewart and Idrees Ali
WASHINGTON, July 15 (Reuters) - Recent waves of U.S. strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting Iranian military capabilities the U.S. would want to destroy before executing more complex operations against Iran, three U.S. officials said.
The officials, who were granted anonymity to discuss military matters, said the strikes effectively strengthen additional military options for President Donald Trump, who has kept the world guessing about his next steps after notifying Congress last weekend of a formal resumption of conflict with Iran.
Now in its fifth month, the Iran war continues to rage after the unraveling of a memorandum of understanding that was meant to stop the fighting and pave the way for a peace agreement.
Despite heavy blows to Iran's military since the start of the U.S. and Israeli campaign on February 28, Tehran retains significant drone and missile capability and has attacked passing tankers as well as its Gulf neighbors.
WASHINGTON, July 15 (Reuters) - Recent waves of U.S. strikes on Iran aimed at forcing open the Strait of Hormuz are also targeting Iranian military capabilities the U.S. would want to destroy before executing more complex operations against Iran, three U.S. officials said.
The officials, who were granted anonymity to discuss military matters, said the strikes effectively strengthen additional military options for President Donald Trump, who has kept the world guessing about his next steps after notifying Congress last weekend of a formal resumption of conflict with Iran.
Now in its fifth month, the Iran war continues to rage after the unraveling of a memorandum of understanding that was meant to stop the fighting and pave the way for a peace agreement.
Despite heavy blows to Iran's military since the start of the U.S. and Israeli campaign on February 28, Tehran retains significant drone and missile capability and has attacked passing tankers as well as its Gulf neighbors.
3 months ago
PROVO, Utah (AP) — A former campus police officer testified Monday that he found an apparent "sniper pad" on a rooftop near where Charlie Kirk was ***** assinated, as prosecutors sought to convince a state judge they have enough evidence to put a Utah man on trial for murder.
Former Utah Valley University Officer Christopher Bagley said he witnessed Kirk's shooting while the conservative activist was speaking on Sept. 10 to a crowd of thousands. Soon after, Bagley searched a nearby gravel rooftop, where it appeared someone had been lying ***** e with a clear sightline to Kirk's location, he said.
"It looks like a sniper pad," Bagley said, adding, "you've got markings of elbows, knees and feet."
The testimony came as Kirk's parents, Kathryn and Robert, and his widow, Erika, were in the courtroom for the first time since the case began, along with the president's son Donald Trump Jr.
Prosecutors are seeking the death penalty for defendant Tyler Robinson, 23, who is charged with aggravated murder. Robinson's parents also were present, sitting a few rows behind the Kirks.
Former Utah Valley University Officer Christopher Bagley said he witnessed Kirk's shooting while the conservative activist was speaking on Sept. 10 to a crowd of thousands. Soon after, Bagley searched a nearby gravel rooftop, where it appeared someone had been lying ***** e with a clear sightline to Kirk's location, he said.
"It looks like a sniper pad," Bagley said, adding, "you've got markings of elbows, knees and feet."
The testimony came as Kirk's parents, Kathryn and Robert, and his widow, Erika, were in the courtroom for the first time since the case began, along with the president's son Donald Trump Jr.
Prosecutors are seeking the death penalty for defendant Tyler Robinson, 23, who is charged with aggravated murder. Robinson's parents also were present, sitting a few rows behind the Kirks.
4 months ago
By Joe Cash
BEIJING, June 30 (Reuters) - China's factory activity returned to expansion in June, driven by demand for chips, computers and other AI-related products, as robust export orders and front-loading to the United States to get ahead of tariffs offset weakness elsewhere in the economy.
The data suggest global AI investment is providing an important cushion for manufacturers in China's $20 trillion economy, even as disruption from the Middle East conflict and a prolonged property slump continue to weigh on broader growth.
The official manufacturing purchasing managers' index (PMI) rose to 50.3 in June from 50.0 in May, according to a survey by the National Bureau of Statistics (NBS). It beat a median forecast of 50.0 in a Reuters poll.
"Exports to meet international demand for chips and other AI-related products, as well as front-loading to get ahead of new U.S. Section 301 tariffs due late July and improved domestic demand due to lower upstream costs underpinned the improvement," said Dan **** , China director of consultancy Eurasia Group.
BEIJING, June 30 (Reuters) - China's factory activity returned to expansion in June, driven by demand for chips, computers and other AI-related products, as robust export orders and front-loading to the United States to get ahead of tariffs offset weakness elsewhere in the economy.
The data suggest global AI investment is providing an important cushion for manufacturers in China's $20 trillion economy, even as disruption from the Middle East conflict and a prolonged property slump continue to weigh on broader growth.
The official manufacturing purchasing managers' index (PMI) rose to 50.3 in June from 50.0 in May, according to a survey by the National Bureau of Statistics (NBS). It beat a median forecast of 50.0 in a Reuters poll.
"Exports to meet international demand for chips and other AI-related products, as well as front-loading to get ahead of new U.S. Section 301 tariffs due late July and improved domestic demand due to lower upstream costs underpinned the improvement," said Dan **** , China director of consultancy Eurasia Group.
4 months ago
President Donald Trump on Monday remained undecided over whether he'd sign a bipartisan housing bill, saying shortly after the House speaker sent it to the White House that it was "so unimportant" compared with his efforts to secure a controversial overhaul of federal elections.
"Big deal," Trump said sarcastically of the legislation. "It's a yawn."
Speaker Mike Johnson transmitted the housing affordability bill to the White House on Monday, according to a spokesperson for the Louisiana Republican, kicking off a 10-day countdown for the bill to become law, even if the president does not sign it.
A source familiar with the matter said Trump is unlikely to sign the bill, though they noted that "he could always have a change of heart." The source said Trump will not veto the bill either — he'd simply allow it to become law after the 10 days.
The president's continued reticence comes after he abruptly canceled a signing ceremony last week for the housing bill, vowing not to approve it until the Senate agreed to move on his federal elections overhaul bill, the "SAVE America Act."
"Big deal," Trump said sarcastically of the legislation. "It's a yawn."
Speaker Mike Johnson transmitted the housing affordability bill to the White House on Monday, according to a spokesperson for the Louisiana Republican, kicking off a 10-day countdown for the bill to become law, even if the president does not sign it.
A source familiar with the matter said Trump is unlikely to sign the bill, though they noted that "he could always have a change of heart." The source said Trump will not veto the bill either — he'd simply allow it to become law after the 10 days.
The president's continued reticence comes after he abruptly canceled a signing ceremony last week for the housing bill, vowing not to approve it until the Senate agreed to move on his federal elections overhaul bill, the "SAVE America Act."
4 months ago
WASHINGTON (AP) — The Trump administration is providing $17.5 billion to speed the development of 10 new large nuclear reactors to meet the skyrocketing power demand from massive data centers.
Energy Secretary Chris Wright cited "tremendous interest" among developers of data centers that would buy the power, as well as utilities and energy companies. The nuclear plants could begin construction by 2030 and become operational in the mid-2030s, Wright and other officials said Tuesday.
"This is the start," Wright said on a call with reporters. "We're going to move with the players that are ready to stand up and move quickly. Once that supply chain is up and running, do we think there will be dozens of these built going forward? I'd be very surprised if there were not."
Energy Secretary Chris Wright cited "tremendous interest" among developers of data centers that would buy the power, as well as utilities and energy companies. The nuclear plants could begin construction by 2030 and become operational in the mid-2030s, Wright and other officials said Tuesday.
"This is the start," Wright said on a call with reporters. "We're going to move with the players that are ready to stand up and move quickly. Once that supply chain is up and running, do we think there will be dozens of these built going forward? I'd be very surprised if there were not."
