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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 go-to comfort food for Americans during the COVID-19 pandemic appears to be chocolate. Sales of chocolate have been on the rise since mid-March.During the second quarter of 2020, roughly March through June, people bought .7B worth of chocolate. That’s a 6.3 percent increase from the same time period last year, according to Nielsen.Mars Wrigley, which owns brands like M&M’s and Snickers, told CNN online sales have been stronger in recent months.Research firm NPD recently said Americans were increasing their snacking while stay-at-home orders were in place.During the first few weeks of April, between meal snacking was up 4 percent, according to NPD’s research. They also found 37 percent of consumers were stocking up on salty snacks and frozen treats. 776

The California NAACP is urging "The Star-Spangled Banner" be removed as the national anthem, according to the Sacramento Bee. The NFL has been embroiled in a national controversy regarding players kneeling for the playing of "The Star-Spangled Banner" before games. President Donald Trump has weighed in multiple times condemning players as being disrespectful for kneeling for the anthem.  413

The Department of Labor reported Thursday that 1.5 million Americans filed initial claims for unemployment during the week ending June 20, bringing a 14-week total to about 46.5 million claims.Thursday's figures were down about 20,000 from last week's unemployment filings. It marked the third straight week where unemployment claims have hovered at about 1.5 million.Weekly claims for unemployment have been falling for about three straight months after peaking at about 6 million a week in late March. But weekly unemployment claims remain historically high.Prior to the pandemic, the record high for weekly unemployment claims came in 2006, when 665,000 people filed for unemployment. The Department of Labor has been tracking the statistics since 1967.Economists often use weekly unemployment claims as a reliable tool when predicting unemployment. However, some surveys indicate that initial weekly claims may be underestimating the amount of those unemployed.At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even attempt to due to states' overwhelmed and antiquated unemployment systems.The economy has improved slightly since the virus first arrived in the U.S. earlier this year. Every state had begun the process of restarting its economy as of earlier this month.However, new cases of COVID-19 are currently on the rise in many states, with reports of new infections nearing record levels — re-igniting fears that more lockdown restrictions could be on the way. 1560

The government of Puerto Rico has quietly admitted that the death toll from Hurricane Maria -- a subject of great controversy -- may be far higher than its official estimate of 64.In a report to Congress dated Wednesday, the US commonwealth's government says documents show that 1,427 more deaths occurred in the four months after the storm than "normal," compared with deaths that occurred the previous four years.The 1,427 figure also appeared in a draft of the report -- "Transformation and Innovation in the Wake of Devastation" -- which was published and opened for public comment July 9. The figure was first "revealed" by the Puerto Rico government, according to the final report, on June 13, one day after officials were forced by a judge to release death records that CNN and the Centro de Periodismo Investigativo in Puerto Rico had sued to make public.Officials stopped short of updating the official death toll for the September 20 storm."The official number is being reviewed as part of a study under way by George Washington University," the report says. Officials hired that university to review the toll after news reports, including those from CNN, called it into question.The George Washington University study "will have certainty" about the number of people the government believes died in Hurricane Maria and its aftermath, Pedro Cerame, a spokesman for the Puerto Rican government in Washington, told CNN. Officials initially said that report would be released in May. Now they expect it to publish this month."We understand that the number is higher," Carlos Mercader, executive director of the Puerto Rico Federal Affairs Administration, told CNN in an interview. "We didn't commission the study to prove there were 64 (deaths). We wanted a scientific and epidemiological study that would give us light, not only on the number -- we know the number is higher -- but the reasons why this happened."The 1,427 figure is "an estimate," Cerame said, and it may include deaths that weren't related to the storm.It's an estimate that follows many others like it.In November, CNN surveyed 112 funeral homes -- about half the total -- across the island, finding that funeral home directors and staff had identified at least 499 deaths they believed to be related to Hurricane Maria and its chaotic aftermath, which included months without power for many of the island's 3.3 million residents. In December, the New York Times estimated the "excess death" toll from the storm to be 1,052, based on comparisons with previous years.In May, a team that included researchers from Harvard University published a study in the New England Journal of Medicine estimating that 793 to 8,498 people died in Maria's wake, a range that some academics have criticized as overly broad. The study's midpoint estimate -- 4,645 deaths -- became a rallying cry for activists upset by what they see as a lack of accountability for the scale of the catastrophe by officials in Puerto Rico and the United States.The Harvard estimate was based on surveys of 3,299 households in Puerto Rico, in which residents were asked about deaths in their homes after Hurricane Maria.Mercader, the Puerto Rico official, criticized that study in an interview with CNN on Thursday. "We all know that's impossible, that that couldn't happen," he said of the estimate that 4,645 people may have died after Maria. "We have the data. You all know that is an exaggeration."Then last week, a research letter published in the medical journal JAMA estimated that between 1,006 and 1,272 people died in relation to the storm -- with a midpoint estimate of 1,139.An accurate death toll is important, according to officials and academics, because it can help Puerto Rico and other governments better prepare for future storms, which are expected to become worse in the era of climate change. The official count also matters a great deal to the families of the deceased. Not only are they eligible for certain federal aid if the deaths are officially counted, but some relatives of the dead simply want their loved ones to be remembered."They were not numbers; they were people," Lisa De Jesús, whose friend Reinaldo Ruiz Cintron died while working in hurricane cleanup, told CNN in June. "And the government thinks that just p