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WASHINGTON — The Federal Reserve took emergency action Sunday and slashed its benchmark interest rate by a full percentage point to nearly zero and announced it would purchase more Treasury securities to encourage lending to try to offset the impact of the coronavirus outbreak. The central bank said the effects of the outbreak will weigh on economic activity in the near term and pose risks to the economic outlook. The central bank said it will keep rates at nearly zero until it feels confident the economy has weathered recent events. The Fed also said it has dropped its requirements that banks hold cash reserves in another move to encourage lending.The Fed's announcement comes after President Donald Trump badgered the the apolitical agency throughout weekend, pushing them to lower rates. Trump lauded the decision at a press conference at the White House on Sunday evening."I'm very happy," Trump said. "...you won't hear anything bad from me (about the fed) unless it's a few months from now." 1018
Uber CEO Dara Khosrowshahi has reportedly tried to clarify his description of journalist Jamal Khashoggi's murder as a "mistake" by the Saudi government.Khosrowshahi made the original remarks in an 210
US Secretary of Education Betsy DeVos met with lawmakers on Tuesday, and defended the Trump Administration for proposing nearly million in cuts to Special Olympics. Devos was questioned on the subject by Rep. Mark Pocan, D-Wis., who took issue with DeVos not knowing the number of participants in Special Olympics. “It’s 272,000 kids,” Pocan said,“Let me just say that I think Special Olympics is an awesome organization, one that is well supported by the philanthropic sector as well,” DeVos said.According to 2017 figures from Special Olympics, the organization had nearly 0 million in annual revenue. The majority of its budget comes from donations from individuals and corporations, which totals million a year.DeVos defended the move as one to save the government money. “We had to make some difficult decisions," she said. A number of prominent celebrities decried DeVos' testimony later on Tuesday. "Terrible. We should support athletes with disabilities, not rip away their opportunities," Chelsea Clinton tweeted. "The benefits of Special Olympics, which I have seen first hand as volunteer are IMMEASURABLE," actress Marlee Matlin tweeted. "DeVos proposal to cut their funding will adversely affect thousands with developmental disabilities. Don't let this happen!"According to Special Olympics, its mission is "to provide year-round sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities, giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics athletes and the community." 1735
VENETIE, Alaska – An Alaska woman was arrested after authorities say she “deserted” a 5-year-old and 18-month-old in her home with no adult supervision. The 169
WASHINGTON (AP) — The husband of a woman who died accidentally in an office of then-GOP Rep. Joe Scarborough two decades ago is demanding Twitter remove President Donald Trump's tweets suggesting Scarborough murdered her. Lori Klausutis died in Scarborough's Florida office in 2001.Timothy Klausutis asked Twitter CEO Jack Dorsey in a letter last week to delete Trump's tweets.Twitter says it's working to "more effectively address things like this going forward." Trump has feuded with Scarborough, who hosts MSNBC's "Morning Joe" show. Trump has tried to implicate Scarborough in the death even though Scarborough wasn't in Florida at the time. Scarborough has urged Trump to stop. Medical officials ruled Lori Klausutis fainted and hit her head. 760
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