The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
Two Philadelphia correctional officers were arrested on Tuesday for their involvement in separate contraband smuggling operations at Curran-Fromhold Correctional Facility (CFCF), according to an announcement by District Attorney Larry Krasner and the Philadelphia District Attorney’s Office Gun Violence Task Force.
A few years ago, the Buffalo Bills threatened to leave New York State unless a new stadium deal was secured. This kind of relocation bluff is common in the NFL, with only the Green Bay Packers standing out as a team with a municipally owned facility and a market too small to seriously consider relocation. Despite the ever-present threat of the Bills moving to a more lucrative market, Democrat Governor Kathy Hochul ultimately signed a deal providing $600 million in state funding for a new $2.1 billion stadium for the Bills, with Erie County contributing an additional $250 million. This was after team owner Terry Pegula threatened to move the franchise to Austin, Texas, where he would privately finance a stadium.
Incoming trade advisor Peter Navarro has reassured Americans that the tariffs planned for President-Elect Donald Trump's next term will not lead to inflationary pressures. Speaking with CNBC, Navarro pointed to the significant tariffs imposed on Chinese imports during Trump’s previous term, such as steel, aluminum, dishwashers, and solar panels. Despite fears that these tariffs would drive up prices, Navarro emphasized that they had no discernible impact on inflation. He also dismissed past warnings about inflation, recalling how critics had predicted economic chaos during Trump’s first term, only to see those fears prove unfounded.
House Speaker Mike Johnson (R-LA) is preparing to unveil a government spending bill that could include key components of President-elect Donald Trump’s healthcare agenda. Among the priorities under consideration is reforming Pharmacy Benefit Manager (PBM) practices, a move aimed at lowering prescription drug costs for seniors by tackling middleman-driven price inflation.
President Donald Trump’s immigration policies, including mass deportations of illegal migrants, could result in lower chicken prices and increased wages for American workers, according to industry analysts. A report from AviNews.com highlights the poultry industry’s heavy reliance on immigrant labor, particularly undocumented workers. Losing this workforce would force companies to raise wages to attract American workers to processing plants and farms.
