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The Federal Reserve will almost certainly raise interest rates Wednesday at Jerome Powell's first meeting as chairman.The question is what his plans will be for the central bank later this year, as the Fed wrestles with how to prevent the economy from overheating.Some hints may come when Powell and members of the Federal Open Market Committee release their revised economic forecasts. The Fed is likely to stick with its three planned rate hikes this year for now, but may hint at a fourth.The Fed will release its rate hike decision and updated forecasts at 2 p.m. ET. Powell will take questions from reporters at his first press conference a half-hour later at 2:30 p.m. ET.Powell, who began a four-year term last month, has expressed confidence that the next few years will be "good years for the economy" and that many challenges for the economy have faded into the background.That message has been echoed by Powell's colleagues on the Fed board.Fed Governor Lael Brainard, who has advocated slower rate hikes, has more recently expressed optimism about the trajectory of the economy. Those cheery comments suggest she may support faster action by the Fed to tighten monetary policy."Many of the forces that acted as headwinds to US growth and weighed on policy in previous years are generating tailwinds currently," she said earlier this month in a speech pointing to the recent fiscal stimulus from tax cuts and higher spending.Fed officials are assessing the impact of the .5 trillion tax cut enacted earlier this year. The Fed is also watching for signs that inflation is coming closer to the central bank's target of 2%. 1647
The day after President Donald Trump signed a historic peace agreement with world leaders and attended a town hall event in Philadelphia, there are reports White House staff members may have tested positive for COVID-19.During his White House briefing on Wednesday, President Donald Trump confirmed that one person, who is part of the WH staff, tested positive for the coronavirus.A reporter for Globo, a Brazillian media outlet, who is part of the White House press corps tweeted Wednesday morning that she learned of the positive cases when the corps own testing was late. 582

The Connecticut Supreme Court has vacated Michael Skakel's conviction in a decades-old murder case and ordered a new trial.The ruling is the latest in a long legal battle waged by Skakel, 57, the nephew of Robert and Ethel Kennedy, who was accused of brutally killing a teenaged girl in 1975.He served about half of a 20-year sentence but was freed on bond in 2013, when the courts first ordered a new trial.The court ruled that Skakel's attorney, Michael Sherman, "rendered ineffective assistance" by failing to identify an alibi witness for his client, and that as a result, Skakel was deprived of a fair trial.Prosecutors can choose to retry Skakel, according to the decision, but the defense would now have the benefit of that alibi testimony. The prosecutor's office was not immediately available for comment.Authorities said Skakel was 15 when he killed his neighbor Martha Moxley, also 15. 904
The Food and Drug Administration released updated safety standards Tuesday for makers of COVID-19 vaccines despite efforts by the White House to block them, clearing the way for requirements that are widely expected to prevent the introduction of a vaccine before Election Day.In the new guidelines posted on its website, the FDA said vaccine makers should follow trial participants for at least two months to rule out any major side effects before seeking emergency approval. That standard had been a sticking point between the FDA and White House officials, who said it could unreasonably delay the availability of COVID-19 vaccines.President Donald Trump has repeatedly insisted a vaccine could be authorized before Nov. 3, even though top government scientists working on the effort have said that timeline is very unlikely. On Monday Trump said vaccines are coming “momentarily,” in a video recorded after he returned to the White House.Former FDA officials have warned that public perception that a vaccine was being rushed out for political reasons could derail efforts to vaccinate millions of Americans.A senior administration official confirmed Monday that the White House had blocked FDA’s plans to formally publish the safety guidelines based on the two-month data requirement, arguing there was “no clinical or medical reason” for it.But on Tuesday, the FDA posted the guidance on its website, making clear that regulators plan to impose the safety standards for any vaccine seeking an expedited path to market.FDA Commissioner Stephen Hahn said in a statement that he hoped the guidelines would help “the public understand our science-based decision-making process that assures vaccine quality, safety and efficacy.”The requirements are aimed at companies seeking rapid approval through the FDA’s emergency authorization pathway. That accelerated process, reserved for health emergencies, allows medical products onto the market based on a lower bar than traditional FDA approval. But FDA has made clear only vaccines that are shown to be safe and effective will be authorized for coronavirus.Former FDA acting commissioner Dr. Stephen Ostroff said the requirements seem reasonable given the agency is in largely “uncharted territory” in terms of considering emergency use of a vaccine. The agency has only previously cleared one vaccine through the method — a decades-old shot that was authorized to prevent anthrax poisoning in 2005.“There really is no margin for error here,” Ostroff said. “Even when you’re talking about limited use of a vaccine there has to be some level of assurance that there isn’t a risk here that would far outweigh the benefit.”Dr. Peter Marks, the head of FDA’s vaccine division, said Tuesday that the two-month follow-up requirement was chosen to be “something reasonably aggressive, but not too conservative — right in the middle.” He spoke at a symposium organized by Johns Hopkins University.Initial doses of vaccines for emergency use would likely be reserved for medical workers and people with health conditions that make them particularly vulnerable to coronavirus. Full FDA approval for the general population will require significantly more data and is not expected until mid-2021.The White House attempt to block the guidance followed a string of instances in which the Trump administration has undercut its own medical experts working to combat the pandemic. FDA’s Hahn has been attempting to shore up public confidence in the vaccine review process for weeks, vowing that career scientists, not politicians, will decide if the shots are safe and effective.Pfizer CEO Albert Bourla has stoked excitement by saying that he expects data on whether the company’s candidate works to be ready in late October. But a number of variables would still have to align for the company to submit, and the FDA to review and greenlight, a vaccine application before Nov. 3. Pfizer’s competitors Moderna, AstraZeneca and Johnson & Johnson are working on longer research timelines.Vaccine development typically takes years, but the U.S. government has invested billions in efforts to accelerate the process and help multiple drugmakers prepare multiple candidates. All the doses will be purchased by the federal government for use vaccinating the U.S. population.Beyond exposing the rift between the White House and FDA, the delay in releasing the guidelines may have had limited practical effect.FDA scientists have been discussing the guidelines publicly for weeks and have made clear that the recommendations have already been shared with each of the vaccine developers.Former FDA Commissioner Scott Gottlieb said Tuesday that drugmakers depend on the FDA’s science-based endorsement to vouch for the safety and effectiveness of their products.“I can’t imagine a circumstance where a sponsor would challenge or seek to undermine the FDA’s role here,” Gottlieb said at the COVID-19 symposium. “This is precisely the moment when we need an objective, neutral arbiter.”Last week, Gottlieb and six other former FDA commissioners blasted the Trump administration for “undermining the credibility” of the agency in a op-ed calling for the release of the then-stalled vaccine guidelines.“Scientists should make decisions based on data, unfettered by political pressure or the intrusions of ideology or vested interests,” the officials wrote.___AP Medical Writer Lauran Neergaard contributed to this report.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 5644
The Centers for Disease Control and Prevention is coming to Stark County, Ohio to investigate the area’s startling rate of teen suicides, according to the Ohio Department of Health.Federal health experts will spend two weeks here to figure out why a dozen Stark County teenagers have died by suicide since the end of summer.The CDC visit comes at the request of local and state health officials. According to the Canton Repository: 449
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