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Fed is set to raise rates yet again. After that, then what?

Published Fri, 07 Feb 2025 05:07:02 GMT

WASHINGTON (AP) — The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what the Fed and Chair Jerome Powell signal in a statement and at a news conference about a bigger question: What comes next? And on that note, they may be disappointed. Economists say Powell will likely hint that the Fed is edging closer to a long-awaited pause in its rate increases. Yet he won’t necessarily send a clear sign that this week’s hike will be the Fed’s last. Instead, he will probably stress that further rate hikes could happen if inflation were to stay persistently high, well above the Fed’s 2% target rate.“He wants to kind of tell the market, ‘Don’t relax. Don’t be complacent. We could still hike more if we think we need to, but we don’t know if we have to yet...

Supreme Court to decide important case on government power

Published Fri, 07 Feb 2025 05:07:02 GMT

WASHINGTON (AP) — The Supreme Court said Monday it will decide whether to jettison a decades-old decision that has been a frequent target of conservatives and, if overruled, could make it harder to sustain governmental regulations.The justices agreed to hear an appeal that takes aim at a 1984 case known as Chevron. It involves the Chevron oil company and says that when laws aren’t crystal clear, federal agencies should be allowed to fill in the details. That’s what agencies do — on environmental regulations, workplace standards, consumer protections and immigration law.The court’s conservative majority already has been reining in federal regulators, including in last June’s decision limiting the Environmental Protection Agency’s ability to regulate greenhouse gas emissions. But Chevron has been one of the most frequently cited high-court cases and a decision limiting its reach or overturning it altogether could dramatically limit the discretion of federal officials...

‘El Chapo’ sons send Mexico cartel’s cheap fentanyl into US

Published Fri, 07 Feb 2025 05:07:02 GMT

MEXICO CITY (AP) — With Sinaloa cartel boss Joaquín “El Chapo” Guzmán serving a life sentence, his sons steered the family business into fentanyl, establishing a network of labs churning out massive quantities of the cheap, deadly drug that they smuggled into the U.S., prosecutors revealed in a recent indictment.Although Guzmán’s trial revolved around cocaine shipments, the case against his sons exposes the inner workings of a cartel undergoing a generational shift as it worked “to manufacture the most potent fentanyl and to sell it in the United States at the lowest price,” according to the indictment unsealed April 14 in Manhattan.Synthetic opioids — mostly fentanyl — now kill more Americans every year than died in the Vietnam, Iraq and Afghanistan wars combined, feeding an argument among some politicians that the cartels should be branded terrorist organizations and prompting once-unthinkable calls for U.S. military intervention across the border.“The problem with fentanyl,...

Aerosmith announces farewell tour starting in September, includes Toronto and Montreal stops

Published Fri, 07 Feb 2025 05:07:02 GMT

LOS ANGELES (AP) — Aerosmith will be touring for the last time to celebrate the rock band’s 50-plus years together.The Rock & Roll Hall of Fame band announced Monday the dates for their farewell tour called “Peace Out” starting Sept. 2 in Philadelphia. The 40-date run of shows, which includes a stop in the band’s hometown of Boston on New Year’s Eve, will end Jan. 26 in Montreal.The other Canadian stop is in Toronto on Sept. 12. Guitarist Joe Perry said the group, with frontman Steven Tyler, bassist Tom Hamilton, drummer Joey Kramer and guitarist Brad Whitford, learned from the staging and production from their recent Las Vegas residency shows.Perry believes the time to say goodbye is now, especially with every founding band member over the age of 70. Tyler, 75, is the oldest in the group.“It’s kind of a chance to celebrate the 50 years we’ve been out here,” Perry said. “You never know how much longer everybody’s going to be healthy to do this. … It’s been a while since we...

Margie's Candies' owner passes away at 86

Published Fri, 07 Feb 2025 05:07:02 GMT

CHICAGO — The owner of the iconic Margie's Candies in Bucktown died last week at the age of 86.Dr. Peter Poulos passed away peacefully on April 26 in Evanston, according to his obituary.Founded on the corner of Western and Armitage by his father in 1921, Margie's Candies has been serving ice cream and candy for over a century.Poulos' mother, Margie, died in 1995.Ice cream sundae at Margie's Candies"Raised in Chicago, Peter was a lifelong learner who genuinely cared for others. His parents instilled in him the values of hard work, determination, and empathy which he carried with him throughout his life. Peter's pursuit of knowledge led him to become a doctor, a profession he embraced with passion and commitment," part of his obituary reads.Poulos' funeral is scheduled for Monday.

Ravinia Festival tickets for 2023 concerts on sale Monday

Published Fri, 07 Feb 2025 05:07:02 GMT

HIGHLAND PARK, Ill. — Tickets for this summer's lineup at Ravinia Festival are now officially on sale.The 2023 concert lineup includes over 50 artists and over 100 concerts including the annual summer residency of the Chicago Symphony Orchestra with Chief Conductor Marin Alsop.The festival's website was experiencing heavy traffic Monday with an alert message to customers that read: "We are experiencing heavy website traffic, thank you for your patience. You are in line to access tickets and log in." As of 9:30 a.m., the site seemed to be back to normal.You can purchase tickets online at Ravinia.org.Charlie Puth, Ne-Yo, Natalia Lafourcade, Boyz II Men, Maria Schneider Orchestra are among the many artists making their debut at this year’s festival. COMPLETE RAVINIA LINE-UP HERESome returning favorites include Santana, Carrie Underwood, Chicago, Train, Jason Mraz, John Legend, Buddy Guy, Kenny Loggins — and more.The Ravinia Festival season begins June 6 and runs through Sept. 9.

Giant seaweed bloom's beaching begins, expected to worsen

Published Fri, 07 Feb 2025 05:07:02 GMT

(NEXSTAR) – Bits of the Great Atlantic Sargassum Belt – a 5,000-mile-wide seaweed bloom – have started to wash up in Florida, but we're likely months away from peak activity, researchers said Sunday. While clouds over the Atlantic made it harder to monitor the seaweed bloom's growth last month, satellite images showed currents and wind pushing the seaweed accumulation west, said the report from University of South Florida (USF) researchers. "Record Sargassum abundance" – an estimated 3 million tons – was seen in the Caribbean Sea, the report said. The southern coasts of the islands Hispaniola, Jamaica, and Puerto Rico started to see "notable buildups" toward the end of April. Seaweed bloom reaches record size: ‘Major beaching events are inevitable’ Some seaweed has also started to beach in Southeastern Florida, the university researchers said. Photos (below) show piles of the algae starting to accumulate on beaches in Fort Lauderdale, and videos posted by Fox Weather show it pili...

Cat that loves Taylor Swift music up for adoption

Published Fri, 07 Feb 2025 05:07:02 GMT

SALEM, Mass. (WPRI) — Calling all Swifties!If you're a Taylor Swift fan and looking for someone to jam out with, the Massachusetts Society for the Prevention of Cruelty to Animals may have the perfect cat for you.The 1-year-old black and white domestic shorthair came to the East Coast from Texas earlier this month.The cat was originally named "Screamer," according to the MSPCA, because he "likes to speak loudly when he's nervous or excited."A Taylor Swift Fan (left) snuggles with his friend Peanut Butter Jelly. (right) (Courtesy: MSPCA-Angell)The cat didn't start to calm down until staffers at the Northeast Animal Shelter started listening to Swift's "Midnights" album while cleaning.The staff decided to rename the cat "A Taylor Swift Fan" after his favorite music, and so far, he's living up to his name. The MSPCA hopes "once he's adopted, he never ever gets back together with the shelter." No Mow May: Debate over skipping yard care divides neighbors Since A Taylor Swift Fan is t...

New parking meters, price increase in effect at Zilker Park

Published Fri, 07 Feb 2025 05:07:02 GMT

AUSTIN (KXAN) -- It's going to cost you more to visit one of the most popular parks in Austin.The last couple of free parking lots within Zilker Park will soon have parking meters. Some of the lots have already charged people to park. PAST COVERAGE: Zilker Park adding new pay stations, increasing prices for parking New parking meters are up near Stratford Drive, north of Zilker Botanical Garden, and in the south Barton Springs Pool lot near Azie Morton Road.Another big change is the cost. The price to park all day at Zilker will increase Monday, May 1, from $5 to $7. The city started installing meters in 2016 but stopped short of installing them in every lot. That is until they ran into a problem.A spokesperson for the Austin Parks and Recreation Department said, "Since that time, parking challenges in these two lots have increased, leading to a need for consistency across the park for parking."The city wants to keep parking rules consistent throughout the area.When will you have ...

Texas ranks No. 1 in heat-related pet deaths

Published Fri, 07 Feb 2025 05:07:02 GMT

AUSTIN (KXAN) -- Averaging 15 days of 100° or hotter a year, Austin is no stranger to dangerous heat. In fact, 90° weather typically begins at the end of May, marking the start of a long three-plus months of uncomfortable heat.Now while humans can be proactive in staying cool when the thermometers rise, pets rely on their owners for safety in extreme heat.Meteorologist Kristen Currie spoke with Lily Velez with Veterinarians.org to discuss some of the reasons Texas sees more heat-related pet deaths than any other state. Tips: Keeping your pets cool during hot Texas summers Below is a transcript of their discussion. Edits have been made for clarity.Kristen Currie, KXAN News: We have some troubling news when it comes to heat-related pet deaths here in Texas. Joining me today to talk about that from Veterinarians.org is Lily Velez. Lily, let's start with this study that you guys were a part of. When it comes to Texas -- how do we rank among other states?Lily Velez, Veterinarians.org: ...