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Former Gov. Deval Patrick has decided not to run for president and plans to announce his decision soon, a source close to the Massachusetts Democrat tells CNN.Patrick, a two-term governor and close ally to former President Barack Obama, had been considering a 2020 run after entering the private sector and taking a job at Bain Capital in 2015. He had upped his political involvement ahead of the 2018 midterms -- endorsing candidates in South Carolina, Texas, New Jersey and a handful of other states -- leading many to believe he was going to jump into the race.Patrick, despite the speculation that he was going to run, had repeatedly acknowledged the enormity of the decision."It's on my radar screen," Patrick told a public radio station in Kansas City during the midterms, adding that "it's a huge decision.""I am trying to think through 2020," Patrick said. "And that's a decision I'm trying to think through from a personal and family point of view."Patrick also expressed concerns about standing out in what is expected to be a wide-open Democratic field."It's hard to see how you even get noticed in such a big, broad field without being shrill, sensational or a celebrity," Patrick told David Axelrod, a former top Obama adviser, in September. "And I'm none of those things and I'm never going to be any of those things."A spokesman for Patrick declined to comment on the governor's decision not to run for President, which was first reported by Politico.Patrick has been receiving private support from many of the same aides and advisers who helped Obama vault into the White House in 2008."Deval would make an outstanding President," Valerie Jarrett, Obama's former senior adviser, told the New Yorker in November. "President Obama and Deval are very much alike in terms of their core values, what drove them into public service, their willingness to lend a hand, the responsibility to give back." 1918

Former US Senate candidate Roy Moore has filed a countersuit against Leigh Corfman, one of the women who accused him of making unwanted sexual advances.Moore is asking an Alabama state judge to stop all proceedings in Corfman's defamation lawsuit, calling the lawsuit "frivolous and groundless," according to the countersuit filed late Monday in Circuit Court in Montgomery County, Alabama. Corfman sued Moore in January."This is and has been a political attempt to smear the good name and reputation of Judge Roy Moore, and we will not let this injustice continue," Melissa Isaak, one of Moore's attorneys, said in a statement. "Yesterday, we filed claims for slander and defamation against Leigh Corfman, and claimed damages for attorney fees under the Alabama Litigation Accountability Act."CNN has reached out to Corfman's attorney.Moore's countersuit comes after Montgomery Circuit Judge Ronan Shaul last week denied a motion from Moore's legal team to dismiss Corfman's lawsuit, CNN affiliate WSFA reported.The judge also refused to move the suit from Montgomery County to Etowah County, the station reported.In the statement, Isaak said: "We also continue to argue that this case should be tried in Etowah County, and wonder why Leigh Corfman has chosen to file this case in Montgomery and not Etowah County, where both she and Judge Moore reside and where her character and reputation are well known."Corfman told The Washington Post?in November that Moore molested her when she was 14 and he was in his 30s. Moore later said he didn't know her.Moore has denied allegations from a number of women who have come forward accusing him of sexual assault and misconduct.President Donald Trump and the RNC backed Moore in his US Senate race last year, despite the allegations, which dogged him during the campaign.Last December, Democrat Doug Jones, upset Moore to win the Senate race. 1915

For an artist who's known for his stunts, this could be Banksy's most perfect art world prank.After the gavel fell Friday at Sotheby's auction house in London, Banksy's Girl with Balloon was reduced to shreds -- another apparent act in the disruptive career of the anonymous British graffiti artist.The iconic image of a girl reaching out for a red, heart-shaped balloon, sold for .4 million. Moments later, a shredder hidden inside the "artist's frame" started its work and the art "self-destructed," according to a news release from Sotheby's 554

Federal Reserve chairman Jerome Powell gave investors reason to cheer on Wednesday when he suggested that the Fed may slow down its interest rate hikes.The Dow surged on the news and closed up 600 points, or more than 2%, in midday trading. The S&P 500 and Nasdaq each rose about 2% as well.Powell reassured investors that the Fed wouldn't risk killing off economic growth by continuing to aggressively raise rates next year."Our gradual pace of raising interest rates has been an exercise in balancing risks," Powell said during a speech at the Economic Club of New York. "We know that moving too fast would risk shortening the expansion. We also know that moving too slowly -- keeping interest rates too low for too long -- could risk other distortions in the form of higher inflation."Powell noted that rates remain relatively low and that they are just below what many economists consider "neutral for the economy -- that is, neither speeding up nor slowing down growth."Investors seemed to interpret Powell's comments as a sign that the Fed, which is widely expected to raise rates again at a meeting next month, may now only hike rates once or maybe twice at most in 2019 as opposed to earlier forecasts of three or four hikes.The Dow's most cyclical stocks were among the biggest gainers. Shares of Boeing (BA), Caterpillar (CAT), Microsoft (MSFT) and Apple (AAPL) helping to lead the rally.In fact, only four Dow stocks -- Verizon (VZ), United Technologies (UTX), DowDupont (DWDP) and Procter & Gamble (PG) -- were trading lower Wednesday afternoon.Matthew Cheslock, a trader at Virtu Financial, told CNNMoney editor-at-large Richard Quest on "Markets Now" Wednesday that the market interpreted Powell's comments as meaning that we are "closer to normal rates. I think that was what really sparked the market to go higher."Cheslock added that some of Powell's remarks about the market not being in a bubble were reassuring as well.Powell's comments may assuage concerns about the Fed possibly going too far with rate increases, a criticism leveled by President Donald Trump.But Tobias Levkovich, Citigroup chief US equity strategist, told Quest that the market may be overreacting."I'm not dancing or partying right at the moment," he said, adding that the Fed has talked about gradual rate hikes "for a very long time." "Maybe [the markets] were just worried it would be worse," Levkovich said.To that end, Trump, who chose Powell to replace former Fed chief Janet Yellen, has often bashed him and the Fed on Twitter and in interviews for the rate hikes.In fact, Trump attacked Powell again in a Washington Post interview Tuesday, saying he was "not even a little bit happy" with Powell and that the Fed was making a mistake with so many rate hikes.Trump even added that sometimes decisions he makes with his "gut" matter more than what other people's brains tell him.Whether or not investors were using their guts or brains when deciding to jump back into stocks Wednesday remains to be seen. But it's clear that the bulls were back in charge on Wednesday."Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by Quest and CNNMoney's business correspondents, the 15-minute program features incisive commentary from experts.You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.The-CNN-Wire 3545

Federal safety regulators say that at least four people have died following head-on crashes in Hyundai and Kia cars in which the airbags did not deploy.The National Highway Traffic Safety Administration said it's investigating the airbags in 2011 Hyundai Sonatas and 2012 and 2013 Kia Fortes after it received reports the devices failed to deploy in six different crashes that resulted in injuries, including the four involving fatalities.There are an estimated 425,000 cars on US roads that could be affected by the problem, according to the NHTSA's review, which was made public on Saturday.Hyundai announced earlier this month that it plans to recall 155,000 of the 2011 Sonatas due to a short circuit in the controller that deploys the airbags. But it has yet to recall the cars because it does not yet have a fix in place. The automaker said it will notify owners by April 20.Hyundai's initial recall statement did not mention that any deaths or injuries had occurred in the cars with faulty airbags. When asked about the NHTSA's investigation, it said the four accidents involving Sonatas resulted in two deaths and two injuries. It described the accidents as "rare and unique.""These accidents included a very high rate of speed and a severe offset head-on collision to the front driver side of the vehicle," said the company. "We are actively investigating what exactly causes the airbag control unit to become damaged in these specific types of accidents."Kia, which is also owned by Hyundai Motors but operates as a separate company in the US, has not announced any recalls for the Forte related to the airbag. Kia said it is working with NHTSA but that it "has not confirmed any airbag non-deployments arising from the potential chip issue."The airbags were made by ZF-TRW, according to the NHTSA filing. Spokespersons for VF-TRW did not respond to a request for comment.The largest auto recall in the nation's history involved 50 million airbags made by supplier Takata for 37 million cars across most major automakers. Those airbags, which exploded and sent shrapnel into the car's occupants, have been tied to at least 13 U.S. deaths and more than 200 injuries, according to NHTSA. 2238

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