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Democratic presidential nominee Vice President Kamala Harris speaks during a campaign rally at Shell Energy Stadium in Houston, Texas, Oct. 25, 2024. But what could Harris actually do to support abortion access in a post-Roe landscape? Even so, she said, a Harris administration could increase the availability of medication abortions and, crucially, it could fight Republican and activist attempts to further limit reproductive rights. A Harris administration would not enforce the Comstock Act, a controversial federal law passed in 1873 that bans the mailing of obscene matter. "A Harris administration wouldn't be able to change what the Supreme Court is saying, but it could de-prioritize those prosecutions," Ziegler said.
Persons: Kamala Harris, Justin Sullivan, Roe, Wade, Harris, Republican Donald Trump, Alina Salganicoff, Salganicoff, Donald Trump, Olivier Douliery, Mary Ziegler, Ziegler, it's, Jonathan Ernst, Reuters Harris, Kevin Wang, Comstock, wouldn't, Biden, Jeff Kowalsky Organizations: Democratic, Shell Energy, Getty, White, NBC, Republican, Trump, New York Times, Republicans, Washington , D.C, Afp, Wisconsin Public Radio, Supreme, Reuters, Guttmacher Institute, Wisconsin's Madison South Health Center, U.S . Department of Justice, DOJ, Labor, Northwest Activities Center, AFP Locations: Houston , Texas, U.S, Washington, Women's, Washington ,, KFF, Detroit
The Summary Many young climate advocates see Kamala Harris as stronger on environmental issues than Joe Biden. President Joe Biden may have passed the United States’ most significant climate legislation ever, but many young environmental activists say they see Kamala Harris as stronger on the issue. But several young climate activists ages 16 to 29 said for them, the expansion of the fossil fuel industry during Biden’s presidency has clouded those successes. Harris’ young supporters have highlighted the settlements she secured as California attorney general with Chevron, BP and ConocoPhillips over their handling of hazardous materials. Sunrise Movement protesters gather near Vice President Harris' Brentwood home on April 14, calling on her to urge President Biden to declare a climate emergency.
Persons: Kamala Harris, Joe Biden, Harris, Biden, , Aru Shiney, Ajay, Donald Trump, , Keanu Arpels, Greta Thunberg, Kent Nishimura, Dana Fisher, it’s, ” Fisher, ’ ” Fisher, Fisher, Harris ’, “ Biden, Kamala isn’t, Iris Zhan, “ Donald Trump, Sen, Gavin Newsom, Carlos Avila Gonzalez, Zanagee Artis, ” Young, Natalie Bookout, Robert Gauthier, Heather Hargreaves, “ there’s, “ She’s, NASA's, Olivier Douliery, Stephen Perkins, We’ve Organizations: Biden, Green, Deal, Big Oil, Sunrise Movement, Green New Deal Network, Infrastructure Investment, Jobs, Reuters, Los Angeles Times, Getty, Center for Environment, Community, Equity, American University, Chevron, BP, ConocoPhillips, Research, , Gov, San Francisco, Brentwood, Climate Power, NASA's Goddard Space, American Conservation Coalition, Pew Research Locations: United States, Alaska, Virginia, West Virginia, Lake Mead, California, Wilmington , Delaware, San Francisco, Mar, Pineridge, Calif, Charlotte , North Carolina, Greenbelt , Maryland, AFP
The Federal Reserve, which acts independently from the Oval Office, was slow to act to contain hot inflation, for example. That Biden is seen as stoking high inflation is due somewhat to optics: he took office in early 2021, around the time inflation spiked notably, economists said. "In my view, neither Trump nor Biden is to blame for the high inflation," said Mark Zandi, chief economist at Moody's Analytics. At a high level, hot inflation is largely an issue of mismatched supply and demand. For example, Trump imposed tariffs on imported steel, aluminum and several goods from China, which Biden largely kept intact.
Persons: Joe Biden, Donald Trump, Justin Sullivan, Trump, Biden, David Wessel, Mark Zandi, Wu Shaoyang, Wessel, Zandi, Stephen Brown, Eric Baradat, , Michael Strain, Strain, Jerome Powell, Olivier Douliery Organizations: CNN, Getty, Federal Reserve, Biden, Trump, Hutchins, Brookings Institution, Moody's, Qingdao Port, International Monetary Fund, North, Capital Economics, American, Afp, American Enterprise Institute, Federal, . Federal Locations: Atlanta, U.S, Ukraine, Qingdao, Shandong Province, China, North America, Washington, It's
US President Joe Biden announces student loan relief with Education Secretary Miguel Cardona (R) on August 24, 2022 in the Roosevelt Room of the White House in Washington, DC. Olivier Douliery | AFP | Getty ImagesThe Biden administration fixes to the country's $1.6 trillion student loan system have resulted in regular announcements to forgive large shares of that debt. In total, the U.S. Department of Education has canceled almost $160 billion in federal student loan debt for nearly 4.6 million borrowers while President Joe Biden has been in office. Here what to know about the aid programs that have led to that relief. Income-driven repayment plansPublic Service Loan ForgivenessNavigating the Public Service Loan Forgiveness program has been famously difficult.
Persons: Joe Biden, Education Secretary Miguel Cardona, Olivier Douliery, Biden, George W, Bush, Federal Perkins Organizations: Education Secretary, White, AFP, Getty, U.S . Department of Education, Public, Consumer Financial, Family Education, Federal, Federal Perkins Loans, Education Department Locations: Washington ,
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe US has acquired 81 Soviet-era combat aircraft from Kazakhstan, the Kyiv Post reported. The motive behind the US purchase remains undisclosed, said the Post, fueling speculation about potential use in Ukraine, where similar aircraft are in service. Kazakhstan, formerly part of the Soviet Union, has maintained close ties to Russia and historically was one of its strongest allies. Some of Russia's outspoken propagandists have suggested that Russia should look to Kazakhstan next following its invasion of Ukraine.
Persons: , Kassym, David Cameron, Antony Blinken, Olivier Douliery, Vladimir Solovyov Organizations: Service, Kyiv Post, Business, Mikoyan MiG, Soviet, Airforce Technology, Russian Defense Ministry, Russian Aerospace Forces, Ukrainian Air Force, Russia, Foreign, Ak, AP, AFP Locations: Kazakhstan, Kyiv, Ukraine, Soviet, Afghan, Soviet Union, Russia, Moscow, Germany, Astana, Russian, Western, China, Afghanistan, Iran
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe US has acquired 81 Soviet-era combat aircraft from Kazakhstan, the Kyiv Post reported. The US purchased 81 of the aged warplanes, said the Ukrainian Telegram channel Insider UA, per the Post. AdvertisementDerived from the MiG-23, the MiG-27 was a ground-attack aircraft and saw action in conflicts like the Soviet-Afghan War. Some of Russia's outspoken propagandists have suggested that Russia should look to Kazakhstan following its invasion of Ukraine.
Persons: , Mikoyan, Antony Blinken, Kassym, Olivier Douliery, Vladimir Solovyov Organizations: Service, Kyiv Post, Business, US, Ukrainian Telegram, UA, Mikoyan MiG, Soviet, Airforce Technology, Russian Aerospace Forces, Ukrainian Air Force, Russian Defense Ministry Kazakhstan, Ak, AP, AFP Locations: Kazakhstan, Kyiv, Ukraine, Russian, Soviet, Afghan, Soviet Union, Russia, Moscow, Astana, Western, China, Afghanistan, Iran
Even though the same jet model had crashed soon after taking off from Indonesia less than six months earlier, aviation authorities around the world had allowed the 737 Max to keep flying with passengers. A third incidentThis year, on January 5, a part of a 737 Max 9 flown by Alaska Airlines blew out, leaving a gaping hole in the side of the plane. Boeing’s production problems went beyond the design flaw that led to the crashes. “Within days of the first crash, Boeing knew there was a design defect,” Robert Clifford, one of the plaintiff attorneys in the case, told CNN. Last month, Boeing removed executive Ed Clark, the head of its 737 Max passenger jet program.
Persons: New York CNN — Michael Stumo’s, Samya Rose Stumo, , , ” Michael Stumo, Michael Stumo Samya Rose, Max, Michael Stumo, We’d, ” Stumo, ” Zipporah, Joseph, ‘ something’s, ’ ” Joseph Kuria, Olivia Kuria, “ It’s, haven’t, Kruia, ” Kuria, ” Robert Clifford, people’s, Olivier Douliery, Dave Calhoun, Ed Clark, Stephen Brashear, Eduardo Soteras, David Calhoun, Mike Delaney, ” Joseph, Zipporah, Dennis Muilenburg, Calhoun, Stumo, “ I’m, Kuria, there’s Organizations: New, New York CNN, Boeing, Max, CNN, Copenhagen School of Public Health, Ethiopian, Alaska Airlines, National Transportation Safety Board, Alaska, Federal Aviation Administration, Transportation Safety Board, NTSB, Alaska Airlines Flight, Alaska Air, , US Justice Department, FAA, Justice Department, Getty, Ethiopian Airlines, Lion Air, Airline Pilots, Association of Ethiopia Locations: New York, Addis Ababa, Ethiopia, Kenya, Indonesia, Alaska, Portland , Oregon, Arlington , Virginia, AFP, , Renton , Washington, Washington
President Biden celebrated new labor contracts between the United Auto Workers union and the three major car companies on Nov. 9 while visiting an auto plant in Belvidere, Ill. Photo: Olivier Douliery/AFP/Getty ImagesUnited Auto Workers employees at Chrysler-parent Stellantis have voted overwhelmingly to approve a new labor contract, bringing the tense round of negotiations between the union and Detroit’s carmakers one step closer to completion. The deal was supported by about 68% of Stellantis workers who voted so far, with only a handful of small facilities having yet to report, according to preliminary results published online Friday by the UAW. Votes from those remaining local chapters wouldn’t be enough to overcome the current margin, according to the union’s tally.
Persons: Biden, Olivier Douliery, Stellantis, Detroit’s Organizations: United Auto Workers, Getty, Chrysler, UAW, Votes Locations: Belvidere , Ill, AFP
UAW Urges Honda, Subaru Workers To Join Union
  + stars: | 2023-11-10 | by ( Nora Eckert | ) www.wsj.com   time to read: 1 min
President Biden celebrated the new labor contracts between the United Auto Workers union and the three major car companies while visiting an auto plant in Belvidere, Ill. Photo: Olivier Douliery/AFP/Getty ImagesThe United Auto Workers is mounting union-organization drives at Honda Motor and Subaru by asking workers to sign authorization cards indicating that they would like to join the union. The union on Friday posted links to social-media site X that included online forms workers at Honda and Subaru in the U.S. can fill out to express their support for UAW representation.
Persons: Biden, Olivier Douliery Organizations: United Auto Workers, Getty, Honda Motor, Subaru, Honda, UAW Locations: Belvidere , Ill, AFP, U.S
CNN —As Israel continues its fourth week of intense bombardment of the besieged Gaza strip, huge crowds of protesters have gathered to call for a ceasefire in Washington, D.C. as well as in other capital cities around the globe. In addition to an “immediate ceasefire,” the protesters are also calling for an end to US military aid to Israel and an end to the blockade on Gaza. Israeli authorities have rebuffed calls for a ceasefire, saying no ceasefire would be possible until all hostages are freed. Olivier Douliery/AFP/Getty ImagesDemonstrators take to the streets across the worldIn addition to Washington, D.C., pro-Palestinian protesters are also marching in other major cities across the world Saturday to demand a ceasefire. In New York last week, hundreds of protesters from a Jewish organization calling for a ceasefire were arrested at Grand Central Station.
Persons: Israel, , Iman Abid, Thompson, Joe Biden, “ Biden, Biden, Celal, Mohamed el Kurd, , Macklemore, , “ I’m, I’m, Yara Shoufani, ” Shoufani, Abid, Olivier Douliery, George Floyd, don’t Organizations: CNN, Organizers, US, Palestinian, Washington D.C, International People’s Assembly, Anadolu Agency, People’s, Palestinian Youth Movement, , Israel, Congress, Getty, Washington , D.C, Met Police, Palestine Solidarity Campaign, London’s Metropolitan Police, IDF, Grand Central, Port, KABC Locations: Gaza, Washington ,, White, Palestine, Israel, Palestinian, U.S, AFP, Manchester, Oxford, Newcastle, Liverpool, Europe, Latin America, Paris, France, Berlin, Germany, Santiago, Chile, Caracas, Venezuela, Philadelphia, New York, Oakland
Olivier Douliery | Afp | Getty ImagesAuctions of government debt, normally routine events for the Treasury Department, have suddenly become very important to financial markets. That's why an announcement Wednesday on refunding, entailing the size of auctions as well as the duration mix of the debt that will be issued, is expected to draw even more market interest. Indeed, the two entities are both pivotal in determining how the U.S. is going to manage its mammoth debt load. That symbiotic relationship will be on full display this week when the Treasury Department makes its refunding announcement Wednesday at 8:30 a.m. ET, and the Fed follows with its decision on interest rates that same day at 2 p.m.
Persons: Janet Yellen, Olivier Douliery, Josh Emanuel, Emanuel, Morgan Stanley, Stanley Druckenmiller, Druckenmiller, Alexander Hamilton, Paul Tudor Jones, she's, Dhingra, Thomas Simons Organizations: Treasury, Foreign Investment, United States, Treasury Department, Afp, Getty, Federal Reserve, Duquesne Capital, Robin Hood Foundation, Jefferies Locations: Washington ,, refunding, Wilshire, U.S
Olivier Douliery | Afp | Getty ImagesAmberlee McGaughey, a librarian in Pennsylvania, was not worried about the restart of student loan payments. In August, she applied for the Public Service Loan Forgiveness program with her loan servicer, MOHELA, or the Missouri Higher Education Loan Authority. Around 7% of student loan borrowers are now more than $100,000 in debt. "The government has made all these announcements, and it's really confusing to people," said Scott Buchanan, executive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers. Her original student loan bill of $483, which was listed as due on Oct. 20, wasn't affordable for her.
Persons: Miguel Cardona, Kamala Harris, Olivier Douliery, she's, MOHELA, couldn't, Ella Azoulay, Carolina Rodriguez, Rodriguez, Scott Buchanan, Joe Biden, he'd, didn't, Biden, servicers, Braxton Brewington, Sarah Cluff, Sarah Cluff Still, servicer, Cluff, Sen, Elizabeth Warren, Nelnet, Joe Popevis, NelNet, Popevis, Servicers, Brewington, Amberlee, Jane Fox, Fox, Buchanan, Rocky, they'll Organizations: Washington , D.C, Afp, Getty, Public, Missouri Higher Education Loan Authority, CNBC, Finance, Biden, Student, Protection, Carolina, Education, Consumer, Student Loan, Alliance, U.S . Department of Education, Valuable Education, Education Department, MOHELA, SAVE, Legal, Association of Legal Locations: Washington ,, Pennsylvania, Missouri, U.S, New York, servicers
President Biden and EU Commission President Ursula von der Leyen are among the leaders at Friday’s U.S.-EU summit in Washington. Photo: olivier douliery/Agence France-Presse/Getty ImagesWASHINGTON—The U.S. and Europe failed to agree on a path for eliminating steel and aluminum tariffs ahead of a summit in Washington on Friday, leaving unresolved a trade dispute that risks becoming a growing irritant between the allied economies ahead of next year’s U.S. election. Officials are seeking to move beyond a spat over metal tariffs that were imposed in 2018 by President Trump on national-security grounds. President Biden paused the tariffs for most European steel and aluminum two years ago as part of a bid to reset relations between the two economies, and the U.S. and EU said they would seek a new arrangement to replace the levies and tackle concerns about an oversupply of steel on global markets.
Persons: Biden, Ursula von der, olivier douliery, Trump Organizations: EU, Friday’s, Agence France, Getty, WASHINGTON Locations: Washington, The U.S, Europe, U.S, EU
The vice president has "rabbit ears" for criticism, author Franklin Foer wrote. "Harris possessed what one of her colleagues described as 'rabbit ears," Foer wrote. Advertisement Advertisement Watch: How Kamala Harris compares with Joe Biden on Medicare for All, gun control, marijuana legalization, and 7 other key issues"She let the criticism guide her," he added. The book, which is about Joe Biden's presidency, delves into the dynamic between him and his vice president. Kamala Harris and Joe Biden.
Persons: Kamala Harris, Franklin Foer, Joe Biden's, Harris, Foer, Joe Biden, Biden, Obama, Ron Klain, Al Gore, Olivier DOULIERY, OLIVIER DOULIERY, we're, I'm, it's Organizations: Service, Fox News, Central America, White, Staff, Getty Locations: Wall, Silicon, AFP
The "crypto couple" Ilya Lichtenstein and Heather Morgan are due for a plea hearing on August 3. The couple is expected to plead guilty to orchestrating a $4.5 billion bitcoin-laundering scheme. An attorney for both Lichtenstein and Morgan did not respond to Insider's request for comment ahead of Thursday's plea hearing. Prosecutors also alleged that Lichtenstein and Morgan had been planning to flee to Russia under new identities. Lichtenstein, whom prosecutors have described as a flight risk due to his Russian citizenship, has remained incarcerated.
Persons: Ilya Lichtenstein, Heather Morgan, ensnared, Lichtenstein, Morgan, Olivier Douliery Organizations: Service, Department of Justice, IRS, Prosecutors Locations: Wall, Silicon, Manhattan, United States, Lichtenstein, Russia
The Mega Millions jackpot grew to $940 million on July 27, 2023. OLIVIER DOULIERY | GettyThe Mega Millions jackpot has ballooned to an estimated $940 million ahead of Friday's high-stakes drawing at 11:00 p.m. The chance of hitting the Mega Millions jackpot is roughly 1 in 302 million. About $113.4 million immediately goes to the IRSBefore collecting a dollar of the Mega Millions jackpot, there's a 24% federal withholding. watch nowHow to calculate federal taxesThe multimillion-dollar Mega Millions jackpot bumps the winner into the top federal income tax bracket, which is currently 37%.
Persons: OLIVIER DOULIERY, John Loyd, Loyd Organizations: IRS, Mega Locations: Fort Worth , Texas
Supporters of student debt forgiveness demonstrate outside the U.S. Supreme Court on June 30, 2023, in Washington, DC. Student loan forgiveness is federally tax-free through 2025 because of a provision from the American Rescue Plan of 2021, Biden's $1.9 trillion Covid-19 stimulus package. While the Tax Foundation estimated that seven states could tax student loan forgiveness in August 2022, it's still possible to see legislative changes. "No one wants to be the state that's taxing loan forgiveness," Miller added. While public service loan forgiveness has always been tax-free, the current taxation for income-driven repayment plans is only temporary.
Persons: Olivier Douliery, Biden, Ethan Miller, Miller, it's, Becca Craig, Lee Reams Sr Organizations: U.S, Supreme, AFP, Getty, American, Planning, Progress, D.C, Tax Foundation, Strategic Wealth Locations: Washington ,, Washington, Kansas City , Missouri
Should public buses be free?
  + stars: | 2023-07-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +10 min
New York CNN —More major cities in the United States are letting public transit riders hop on board for free. Boston is piloting three zero-fare public bus routes, and New York City is expected to test free buses on five lines. Fares made up, on average, 12.5% of transit agencies’ operating expenses in 2021, down from 31.4% in 2019, according to the American Public Transit Association. “By offering free public transport, we are not really attracting car drivers in large volumes,” said Mohamed Mezghani, secretary general of the International Association of Public Transport. “There’s no such thing as free transit,” he added.
Persons: Michelle Wu, , , Lane Turner, Stephanie Lotshaw, American Public Transit Association . Massachusetts Sen, Edward Markey, Ayanna Pressley, Wu, Matt Stone, Henry Bendon, ” Bendon, Fares, Pat Greenhouse, Mohamed Mezghani, Sarah Kaufman, There’s, Boston Mayor Wu, Olivier Douliery, Richard Jarrold, Jarrold Organizations: New, New York CNN, Boston, CNN, Boston Globe, American Public Transit Association . Massachusetts, US, MediaNews, Boston Herald, Getty, Richmond, Agency, American Public Transit Association, Kansas City, International Association of Public Transport, , Rudin Center, Transportation, New York University, Boston Mayor, Getty Images Washington, Transportation Authority Locations: New York, United States, Kansas City, Raleigh, Richmond, Olympia, Tucson, Alexandria, Virginia, Denver, Boston, New York City, America, Tallinn, Estonia, Dunkirk, France, Luxembourg, Washington ,, AFP, Kansas
Supporters of student debt forgiveness demonstrate outside the US Supreme Court on June 30, 2023, in Washington, DC. Olivier Douliery | AFP | Getty Images"Under the Secretary's plan, roughly half of all federal borrowers would have their loans completely discharged," Roberts wrote. How student loan forgiveness got to the Supreme CourtSupreme Court justices listen to arguments. watch nowTwo of those legal challenges made it to the Supreme Court: one brought by six GOP-led states — Nebraska, Missouri, Arkansas, Iowa, Kansas and South Carolina — and another backed by the Job Creators Network Foundation, a conservative advocacy organization. While the justices' decision largely matched the predictions of many legal experts, some saw it going another way, especially after the Supreme Court heard oral arguments for the two challenges to the president's plan at the end of February.
Persons: Olivier Douliery, Roberts, Persis Yu, who'd, Biden, Bill Hennessey, he'd, Grant, overreach, Jed Shugerman, Elizabeth Prelogar Organizations: AFP, Getty, U.S . Department of Education, Consumer, Student, Protection, Supreme, U.S . Department of Justice, Heroes, Republican, GOP, South Carolina —, Job, Network Foundation Locations: Washington ,, Missouri, delinquencies, U.S, — Nebraska , Missouri , Arkansas , Iowa , Kansas, South Carolina, Fordham
The recording indicates Trump understood he retained classified material after leaving the White House, according to multiple sources familiar with the investigation. Meadows didn’t attend the meeting, sources said. The revelation that the former president and commander-in-chief has been captured on tape discussing a classified document could raise his legal exposure as he continues his third bid for the White House. On the recording and in response to the story, Trump brings up the document, which he says came from Milley. However, there’s no indication Trump followed the legally mandated declassification process, and his attorneys have avoided saying so far in court whether Trump declassified records he kept.
Persons: Donald Trump, Trump, Jack Smith, Mark Milley, Trump’s, Mark Meadows, Margo Martin, Meadows, Trump “, , Dave Butler, Martin, Olivier Douliery, Susan Glasser, Milley, Glasser, ” Milley, Honig, They’ve Organizations: CNN, Federal, White, Justice Department, Trump, Prosecutors, Joint Chiefs, Staff, Milley, Capitol, Getty, Yorker, National Archives, Records Administration, The Justice, Lago, Office, Fox News Locations: Iran, Bedminster , New Jersey, Washington ,, AFP, New, Milley, Lago, Florida, Bedminster, Trump
Shevrin Jones, a Florida state senator and member of the Biden campaign’s advisory board of elected officials, said he’s eager to tell the country the story of what he’s seen under DeSantis’ leadership. Biden and DeSantis and their wives walk to meet with local residents affected by Hurricane Ian in Fort Myers, Florida, on October 5, 2022. The voter registration advantage Florida Democrats had when President Barack Obama narrowly won the state in 2012 has flipped to Republicans. An adviser to the former New York City mayor told CNN that so far, there has been no outreach to Bloomberg’s operation from either the Biden campaign or the DNC. There was also a fleeting belief that they could push Biden over the top in Florida – though Trump ended up carrying the state by 3 points.
Politicians have been threatening a nationwide TikTok ban unless ByteDance sells its stake in the app, a move China said it "strongly" opposed. "That's the power of TikTok," Spangler said, adding that the app drives the majority of sales for his business, The Good Chad. Olivier Douliery | Afp | Getty ImagesIn April, Montana legislators approved a bill that would ban TikTok from being offered in the state starting next year. Creators are turning to other platformsVivian Tu, who lives in Miami, has been preparing for a possible TikTok ban by working to build her audience and diversify her content across multiple platforms. With the looming threat of a TikTok ban, Foster said she's been sharing content across Instagram, YouTube and Twitter to try to expand her following.
Hong Kong CNN —Binance, the world’s largest cryptocurrency exchange, doesn’t want to be called a Chinese company. “Our opposition in the West bends over backward to paint us as a ‘Chinese company,’” he wrote in a blog post last September. Zhao has been vocal about how he feels his firm is misrepresented as a "Chinese company." The same concern could, in theory, apply to any Chinese company. TikTok CEO Shou Chew testifying before US Congress in March.
The Fed is on track to increase rates a quarter point while deliberating if that will be enough to pause the fastest rate-raising cycle in decades. Photo: olivier douliery/Agence France-Presse/Getty ImagesExecutives are watching the Federal Reserve’s latest policy meeting for clues on its inflation-fighting campaign and the potential for a so-called hard landing that could cramp consumer spending on everything from airline tickets and cars to furniture and snacks. The Fed this week is on track to increase interest rates by a quarter percentage point while deliberating whether that will be enough to then pause the fastest rate-raising cycle in four decades. The central bank’s benchmark rate stands at a range between 4.75% and 5%, and another quarter-point increase at the meeting that concludes Wednesday would lift it to a 16-year high.
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. None of those figures are satisfactory for Fed officials. "Most Fed officials don't seem comfortable that the rate hike cycle is over," Citigroup economist Andrew Hollenhorst said in a note. The next Fed policy meeting comes in six weeks, on June 13-14, and April's consumer price report is due in one week, on May 10. This Fed meeting is crucial."
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