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The Federal Reserve is poised to cut interest rates on Wednesday for the first time since the 2008 financial crisis to extend the longest economic expansion in US history.The move would come despite a strong US economy. But some cracks are beginning to show: The global economy is softening, American manufacturing is slowing, and the global trade war isn't helping matters.But a potential rate cut would also follow months of pressure from President Donald Trump, who has broken with his predecessors' practice of walling off the central bank from politics.Jerome Powell, the chairman of the world's most influential central bank, has repeatedly pledged to follow economic data, and policymakers have become increasingly worried that uncertainty, caused in part by the President's trade wars with China and other countries, will hamper global growth and dampen investment."We are carefully monitoring these developments and assessing their implications for the US economic outlook and inflation, and will act as appropriate to sustain the expansion," Powell reiterated in remarks delivered at a French government conference in Paris on July 16.Even before the central bank signaled the possibility last month, investors had already priced in a reduction in the federal funds rate, which influences the cost of mortgages, credits cards and other borrowing. Those expectations piled on additional pressure on the Fed to move at this week's meeting to avoid rattling markets with an abrupt change in course.The Fed chairman has brushed off such pressures -- political or otherwise -- arguing the Fed is "insulated" from such demands as an independent institution outside of the control of the White House and whose decisions are informed by incoming economic data.The Fed last raised rates in December but has backed off plans for further tightening.In June, Powell began to make the case that the Fed, like other central banks, around the world needed to act earlier to get ahead of any economic weakness especially given how low interest rates currently are -- a reversal from his previous stance."If you see weakness, it's better to come in earlier rather than later," Powell said at an appearance before the Council on Foreign Relations in New York. "I think most central banks would want to act preemptively and let a downturn gather steam, in a sense, the thought being an ounce of prevention is worth a pound of cure."That message has been echoed by other top officials, including Federal Reserve Bank President William Dudley.Efforts by the Fed to prevent an economic downturn is unlikely to win a reprieve from the White House. A day before policymakers were set to gather for their two-day interest-setting meeting in Washington this week, Trump chastised the Fed for making "all the wrong moves," adding, "a small rate cut is not enough."Trump has kept up a year-long relentless attacks against the Fed, often lamenting he regrets appointing Powell for the role, and going so far as to threaten to fire him. He's called the central bank his "biggest threat" and accused them of behaving like a "stubborn child" for refusing to cut rates and keeping credit too tight.It will be up to Powell during his now-routine press conference to justify the decision to plow ahead with a rate cut given some prevailing strength in the economy. Since their last meeting in June, the data has consistently surprised to the upside with stronger-than-expected job gains, retail sales and economic growth in the second quarter.Wall Street analysts also suggest Friday's upcoming jobs numbers will also be an important economic milestone that will determine whether a further rate hike may be coming as early as September as some anticipate."Expect an overall strong report, eroding the case for further cuts, but given the strong easing bias of Fed leaders, much depends on exactly how strong the report is and how they adjust their messaging in response," Josh Wright, iCIMS' chief economist and former Fed staffer said. "'One and done' still seems like an economically justifiable outcome." 4095
The CDC has recently issued guidance as it says some communities could have rodents aggressively trying to find new sources of food due to coronavirus-related restaurant closures. As restaurants closed nationwide, the supply of food for some rodents was cut off, especially in dense, commercial areas. With life returning to normal, these rodents could be acting aggressively in order to find food. “Some jurisdictions have reported an increase in rodent activity as rodents search for new sources of food,” the CDC said. “Environmental health and rodent control programs may see an increase in service requests related to rodents and reports of unusual or aggressive rodent behavior.”The CDC said that it is not uncommon after disasters such as hurricanes to see a decline in rodent population, following by an increase when life returns back to normal. The CDC said that residents and businesses should eliminate conditions that may attract and support rodent presence. The CDC recommends sealing up access into homes and businesses, removing debris and heavy vegetation, keeping garbage in tightly covered bins, and removing pet and bird food from their yards.According to the CDC, rodents are capable of spreading up to 35 different infectious diseases. These diseases can be spread directly to humans by rodent feces, urine, or saliva, or through rodent bites, or indirectly through ticks, mites or fleas that have fed on an infected rodent. 1458
The New York state Supreme Court in Manhattan has disbarred Michael Cohen, President Donald Trump's former personal attorney and fixer, after Cohen pleaded guilty last year to multiple felony charges, according to a decision released Tuesday.A five-judge panel found that Cohen, who began a three-day stretch of congressional testimony on Tuesday, should be disbarred for his federal conviction for having previously made false statements to Congress, the decision said.Though Cohen's disbarment was widely expected in legal circles, for a onetime trusted legal adviser to the President to be stricken from the roll of attorneys in New York state nevertheless constituted another striking step in the escalating consequences of the investigation into Cohen.Cohen, who pleaded guilty in two cases to an array of charges that included campaign-finance violations connected to his work for Trump, is scheduled to report to prison for a three-year sentence beginning on May 6.The decision was posted online early Tuesday evening. It was released two days earlier than initially intended, according to the New York Law Journal. On Tuesday afternoon, paper copies of the decision, containing the same text but dated February 28, were distributed to reporters in the courthouse press room. Court officials declined to confirm that those copies were legitimate and told CNN the decision was not ready to be released, only to then post it online with Tuesday's date.Lanny Davis, an adviser to Cohen, didn't immediately respond to a request for comment on Cohen's disbarment.Though an attorney for Trump, Rudy Giuliani, on several occasions has raised concerns that Cohen could have violated attorney-client privilege, the decision from the court didn't address that subject.In New York, conviction of a federal felony triggers disbarment if the offense would constitute a felony under state law.The court has repeatedly found that a conviction for making false statements to Congress "is analogous to a conviction under the New York felony of offering a false instrument for filing in the first degree and, therefore, automatic disbarment is appropriate herein," the decision said. 2184
The Hurricane Hunters are not the only ones flying over Tropical Storm Barry. The crew aboard the International Space Station also have a bird's eye view of the storm. On Thursday, astronaut Christina Koch captured a picture of the tropical storm. In the foreground of the photo are the panels of the International Space Station. Koch has been in space since April 17, and is expected to return to Earth in February. Tropical Barry has prompted hurricane warnings along the Louisiana Gulf Coast. The storm is expected to gain stregnth through landfall. Tropical Storm Barry 586
The candlelight vigil for two people killed at an off-campus homecoming party near Greenville, Texas, was interrupted by gunfire Sunday, police said.Officers responded to the shooting around 8 p.m. CDT and found a disturbance during the vigil led to shots being fired, according to Dallas police spokeswoman Tamika Dameron.No injuries were reported in the shooting, but several vehicles were damaged, Dameron said.The vigil comes just one day after two people were killed and 14 others were injured during a party Saturday.Police are still searching for the gunman who opened fire at the off-campus party.Efforts to find the shooter are being complicated by witnesses' reticence, Hunt County Sheriff Randy Meeks told reporters."It appalls me that, as many folks that were there, (they) have not been able to give us a better description of this shooter," the sheriff said. "Due to the many different descriptions being provided by those in attendance at that party, we unfortunately do not have any solid suspect information to provide at this time."The party was organized by a group called Good Fellows, some of whose members are students at Texas A&M University-Commerce, though the event was not sanctioned by the school, Meeks said.Of those injured, 12 were shot, he said. Other victims suffered cuts and other injuries from escaping through windows. Five of the victims are being treated at Medical City Healthcare facilities, said hospital spokesperson Melissa Sauvage. They are between 19 and 21 years old.Four of those five are at Medical City Plano, with two in critical condition and two in good condition, Sauvage said. One patient is in critical condition at Medical City Denton.'Complete chaos'Gunshots rang out about 11:45 p.m. (12:45 a.m. ET) Saturday at The Party Venue, an event space located on a sparsely populated stretch of Highway 380. Greenville is a city of 27,000 located 50 miles northeast of Dallas."When the shots were fired it was complete chaos as people fled for safety and deputies attempted to locate the shooter," Meeks said.By 12:10 p.m., deputies were reporting multiple victims.Investigators have yet to identify a suspect or motive, but evidence and witness accounts lead police to believe the gunman walked in the back door of the party, Meeks said. The initial investigation suggests the shooter was not a partygoer but that he likely got to the party before deputies arrived in response to an unrelated complaint, the sheriff said.It also appears, from one witness account, that the shooter targeted his first victim before randomly opening fire with his handgun, the sheriff said.There were bullets on the floor of the venue, but most of them were part of a Halloween costume, he said.Police have interviewed about 20 witnesses, and "none of them (has) given us a good description of the shooter or who they think he may be," Meeks said. There are no surveillance cameras at the venue, either, he said.The FBI and Texas Rangers are assisting in the investigation, he said. A man wearing a Bureau of Alcohol, Tobacco, Firearms and Explosives jacket was also at the scene.There was an off-duty policeman from nearby Farmersville at the event, but the officer was at the front of the venue when the shooting broke out and did not see the gunman, the sheriff said."It was packed," Meeks said. "It gave the opportunity for this shooter to be able to accomplish whatever he wanted to accomplish. When you have this many people in one place, it's an easy target for somebody and then we just had one security guard there. There's no way he could control everything that went on."Number of students unclearThere were about 750 people at the party, about 90% of whom were in their teens or early 20s, said Meeks, imploring the parents of the young people to urge their children to come forward if they know anything.Authorities first responded to complaints of vehicles parked along the highway, Chief Deputy Buddy Oxford said, and the shooting began about 15 minutes after they arrived."Our thoughts and prayers are with the victims, families, and friends of those affected by this morning's shooting in Greenville," Texas A&M University-Commerce said in a statement.Earlier, the school's police department 4261