Fed Raises Interest Rate, President Trump Expresses Displeasure at Decision
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Inflation is too high. I'm Lisa Lacera, Fox News. So the Fed took action, raising its benchmark interest rate for the first time since July of 2023.
The quarter point increase lifts the Fed's benchmark rate to a range of three and three quarters to four percent, Fed Chair Kevin Walsh.
Job gains have kept pace with the workforce and the unemployment rate has changed little. But inflation remains elevated.
The increase was approved unanimously, and the vast majority of officials penciled in one more hike this year in interest rate projections.
Stocks slid after the Fed's decision to hike its key interest rate. The Dow lost six thirty one, the Nasdaq minus three, the SP off thirty three. Federal investigators on the scene of a deadly news helicopter crash in Los Angeles.
NTSB investigator in charge, Fabian Salazar, says an online video appearing to show the NBC LA helicopter's point of view, seconds before it crashed in Chatsworth, is a crucial piece of evidence.
In that recording, we are clearly hearing sounds that are consistent with the engine changing its speed.
But stressing the investigation is in the early stages, the fiery crash killing a reporter and a pilot on board and a person on the ground. The news crew was covering an earlier SUV and a metrobus collision that left two people dead.
Fox's Christian Goodwin in Los Angeles, a thirty six year old, has been arrested in connection with the SUV and bus crash. Three people have died after being swept away by flood waters on the Navajo Nation in New Mexico. This coming after a day of heavy rain, the three deaths coming just weeks after flooding in the Grand Canyon killed three hikers. America is listening to Fox News.
An immigration and customs operation leads to hundreds of arrests in Indiana.
ICE says its five-day immigration enforcement operation, dubbed a safe community, resulted in four hundred and twenty-six arrests of illegal immigrants across Indiana late last month through September 3rd. The efforts part of the Trump administration's immigration enforcement, though Indianapolis Mayor Democrat Joe Hogsett in a statement blasting the operation, saying the city prides itself on being a welcoming community. The illegal immigrants arrested are criminals involved in sex offenses, assault, drug trafficking, weapons offenses, fraud, burglary, and other crimes, including some with alleged ties to dangerous transnational gangs. Jeff Manasso, Fox News.
Three people in Southern California facing federal charges of stealing millions in federal and state homeless aid by real estate, go on luxury trips, and buy vintage vehicles. Federal prosecutors claim they used money from those contracts to pay personal expenses, accepted bribes, and billed for services that were never administered. This is the second arrest of people on federal fraud charges in Southern California this week. Americans were back to spending Yeah.
1.2%, excluding autos sales were up one point four percent. Retail sales slumped in July, retail analysts say when Amazon moved its summer prime day sale to June, it pushed sales for Amazon and competitors earlier in the summer. And now July's decline has been revised to a smaller half percent drop. Gerald Storch of Storch Advisors.
The consumer is strong, they have jobs, the stock market's up, they're spending. Gasoline prices are certainly an issue, but that alone will not curtail consumer spending.
August retail sales were up six percent from a year ago. Fox is Ginny Casola.
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