The Federal Reserve on Friday officially ended its 2020-era policy that allowed inflation to run above 2 percent, a move intended to restore credibility and simplify its economic framework after years of persistent inflation. The announcement came during Chair Jerome Powell’s speech at the Kansas City Fed’s annual Jackson Hole conference.
North Korean dictator Kim Jong-un ordered an accelerated buildup of nuclear weapons on Monday, using annual U.S.-South Korea joint military drills as justification. Speaking at the launch of the 5,000-ton destroyer Choe Hyon, Kim labeled the Ulchi Freedom Shield exercises an “obvious expression” of Washington and Seoul’s “will to provoke war.”
Federal Reserve Chair Jerome Powell signaled on Friday that the central bank could cut interest rates as early as September. Speaking at the Kansas City Fed’s annual Jackson Hole conference, Powell cited a shift in risks toward slowing job growth as the rationale for changing course.
Florida Judge Kathleen Williams issued a temporary restraining order (TRO) to block the Trump administration from placing more detainees in Alligator Alcatraz.
In one of the most aggressive assaults of its war with Ukraine, Russia launched a strike near NATO with 614 drones, ballistic, and cruise missiles, striking deep into Ukraine and destroying an American-owned business less than an hour from two NATO borders.
Eighteen activists were taken into custody in a dramatic incident after anti-Israel agitators and Microsoft employees staged a second encampment at the company’s Redmond, Washington, headquarters.
