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The Federal Reserve is warning that an escalating trade war would pose a big threat to the economy.But for now, it's sticking with its plan to raise interest rates — whether President Donald Trump likes it or not.In minutes of its most recent meeting, released Wednesday, central bankers warned that a "major escalation" of trade disputes could speed inflation and cause businesses to pull back on investment.Such an escalation could also reduce household spending and disrupt companies' supply chains, participants noted.Some business leaders reported that recent tariff increases have already begun to cause higher prices. Others have reduced or delay investment spending because of uncertainty about future trade policy.Still, some Federal Open Market Committee members noted that most businesses concerned about trade disputes hadn't cut back their spending or hiring, but "might do so if trade tensions were not resolved soon."In the meantime, the central bank is standing by its plan for higher rates as the economy strengthens, according to the minutes.The Fed is expected to raise rates twice more this year, starting in September.The Fed meeting, held July 31 and August 1, was the first after Trump began lashing out at Fed Chairman Jerome Powell for hiking rates. The president told CNBC in July that was "not thrilled" with the Fed's actions.He used similar language on Monday in an interview with Reuters, arguing the central bank should be doing more to help the economy."I should be given some help by the Fed," said the president, who himself appointed Powell to lead the central bank.Presidents have historically avoided commenting on Fed policies. The central bank is designed to be independent from political interference.The Fed's minutes made no mention of Trump's criticism as a factor in its decision-making.Since Trump took office, the Fed has raised rates five times, including twice this year under Powell. The Fed has been carefully and gradually raising rates over the past several years to keep inflation in check and prevent the economy from overheating.After two further rate hikes in 2018, it has penciled in three more rate hikes in 2019.Fed Chairman Jerome Powell told the "Marketplace" radio show in July that he was "deeply committed" to maintaining Fed independence."We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently, and we don't take political considerations into account," Powell said in the interview.Powell is expected to speak on Friday at an annual economic symposium in Jackson Hole, Wyoming. 2611

The Christian evangelist who attempted to convert one of the world's last remaining isolated tribes wrote of his convictions in pursuing the mission even in the face of open hostility and attempts on his life, according to diary entries and notes.In excerpts from his journal, John Allen Chau, the American who is believed to have been killed by members of the isolationist Sentinelese tribe on a tiny, remote island in the Bay of Bengal, wrote of returning to the island to continue his attempts at conversion even after a tribesman shot at him with a bow and arrow, piercing a Bible he was carrying."I hollered, 'My name is John, I love you and Jesus loves you,'" he wrote in his diary, pages of which were shared by his mother with the Washington Post. Shortly after, a young member of the tribe shot at him, according to his account.In pages left with the fishermen who facilitated his trip to the island, his musings are a clear indication of his desire to convert the tribe."Lord, is this island Satan's last stronghold where none have heard or even had the chance to hear your name?" he wrote.His notes indicate that he knew the trip was illegal, describing how the small fishing vessel transported him to the isolated island under cover of darkness, evading patrols."God Himself was hiding us from the Coast Guard and many patrols," he wrote.All seven locals who facilitated the trip have been arrested. 1419

The coronavirus pandemic has sent many consumers to purchase items online, so it's no surprise this year's spending on Thanksgiving, Black Friday, and Cyber Monday were record-high e-commerce shopping days.According to Adobe Analytics data, shoppers spent .8 billion, making it the highest-grossing Cyber Monday ever. Last year, consumers spent .4 billion.Adobe projected consumers to spend .7 billion this year on Cyber Monday in its early holiday spending forecast.On Cyber Monday, Adobe said the number of orders picked up curbside was up 30% from a year ago, as consumers shopped safely during the pandemic.Many people also used their smartphones to avoid crowds at brick and mortar during the pandemic. Adobe added that purchases made on mobile devices made up 37% of the digital sales on Cyber Monday.Analysts said from 7 p.m. to 11 p.m. Pacific time, customers spent .7 billion, or million per minute, that accounted for 25% of the day's revenue.Adobe said the items most consumers purchased were Lego sets, vTech-brand toys, scooters, video games, Apple AirPods and Watches, HP and Dell computers, as well as Chromecast.According to Adobe, consumers spent billion on Black Friday, making it the third-highest online spending day in U.S. history. In 2019, online sales hit .4 billion.Customers also set records for online shopping on Thanksgiving Day, Adobe said, with shoppers spending .1 billion. 1434

The coronavirus pandemic may have started earlier than previously thought, according to scientists from the CDC.A study from government scientists published November 30 appears to confirm what some health experts have suggested, patients infected with COVID-19 were in the US before the beginning of 2020.“The findings of this report suggest that SARS-CoV-2 infections may have been present in the U.S. in December 2019, earlier than previously recognized. These findings also highlight the value of blood donations as a source for conducting SARS-CoV-2 surveillance studies,” the report states.The first officially documented case of COVID-19 in the US was reported on January 19, a person who had returned to the US after traveling from China.The World Health Organization was alerted to the novel coronavirus by officials in Wuhan, China on December 31, 2019. The CDC researchers say further reports have identified a patient in Wuhan with COVID-19 symptoms as early as December 1, 2019.The study looked at more than 7,000 routine blood donation samples taken by the American Red Cross from people in nine states between December 13, 2019 and January 17, 2020.They found COVID-19 antibodies in 106 samples, mostly from the states of California, Oregon and Washington, from blood collected between December 13-16, 2019. Other samples that indicated COVID-19 antibodies were from Connecticut, Iowa, Massachusetts, Michigan, Rhode Island, and Wisconsin taken in early January 2020.“The presence of these serum antibodies indicate that isolated SARS-CoV-2 infections may have occurred in the western portion of the United States earlier than previously recognized or that a small portion of the population may have pre-existing antibodies that bind SARS-CoV-2,” the report states.Scientists acknowledge that patients presenting with what is now known as COVID-19 symptoms before mid-January would likely not have had clinical samples taken or kept because of how new the virus was. Therefore, the CDC used the existing repository collected by the American Red Cross during their routine blood donation process.“These specimens were previously archived for potential future studies to identify emerging transfusion-transmissible infections but were re-purposed for the present study,” researchers stated.Researchers caution that these results are subject to limitations. Although they detected antibodies, that does not mean they are “true positive” COVID-19 tests. In order to get a true positive, a different test would need to be a run. 2545

The Daily Mail released leaked footage of the fatal Memorial Day arrest of George Floyd, who died while in the custody of Minneapolis Police.The Daily Mail did not indicate how it received the leaked body worn camera videos of the arrest. Prosecutors told CNN they are working to find the source of the leak. Several media outlets have sued prosecutors in order to gain access to the body-worn camera footage from the officers."The prosecution team is not the source of the leak. We will continue to take the strictest precautions to ensure a fair trial," Minnesota Attorney General Keith Ellison said.The Daily Mail said the footage was taken from the body cameras of Thomas Lane and Alex Kueng. Lane and Kueng along with Derek Chauvin and Tou Thao were fired as officers and criminally charged for Floyd’s death. Chauvin is facing the most serious charges, which include second-degree murder. The other three former officers are being charged with aiding and abetting a second degree murder. Chauvin was the officer that held a knee to Floyd’s neck for several minutes, leading to his death.The footage shows officers pointing weapons at Floyd in order to get him to exit his vehicle and put up his hands. The video then shows Floyd pleading with officers not to shoot him.“I'm not going to shoot you,” Lane says.The footage showed Floyd in an apparent struggle with officers as officers repeatedly asked Floyd to sit.As Chauvin laid on Floyd’s neck, Floyd could be heard telling officers, “Tell my kids I love them. I'm dead.”To view the full video, click here. 1572