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Rising turmoil is making Fed’s rate decisions more perilous

Published Mon, 23 Dec 2024 18:56:34 GMT

WASHINGTON (AP) — Poised to raise interest rates Wednesday for a 10th time, Federal Reserve officials are facing two competing economic trends that could make their future rate decisions more difficult and treacherous. On the one hand, turmoil in the banking sector and political battles over the government’s borrowing limit could weaken the economy if banks restrict lending and financial markets tumble on fears of a default on the nation’s debt. Such anxieties would argue against further rate hikes, at least for now.On the other hand, inflation, while slowing, is persisting at a level far above the central bank’s 2% target rate, raising concerns that the Fed might have to further tighten credit to slow price increases. Additional rate hikes would follow — a trend that would lead to ever-higher borrowing rates and heighten the risk of a recession. The wide range of potential outcomes could provoke divisions among Fed officials, even as they’re expected on Wednesday ...

Stock market today: Asian markets track Wall Street decline

Published Mon, 23 Dec 2024 18:56:34 GMT

NEW YORK — Asian shares declined Wednesday, tracking losses on Wall Street as shares of beleaguered banks tumbled again and worries about the U.S. economy deepened. U.S. futures edged higher while oil prices were little changed.Investors are waiting for the Federal Reserve’s next move on interest rates. Wrapping up a two-day policy meeting later in the day, the U.S. central bank is widely expected to raise its key rate by a quarter percentage point to 5%-5.25% to try to finally tamp down inflation. Meanwhile, a political stalemate left the U.S. edging ever closer to what would be a catastrophic default on government debt. President Joe Biden invited the top four congressional leaders to face-to-face talks at the White House next week to try to resolve the problem.“Risk sentiments are back to a cautious mood this week, having digested many of the big tech earnings and a series of uncertainties are now back onto the radar for the bulls to tackle,” Yeap Jun Rong of IG Research said in ...

Warmer Days Ahead:Temps in the60s Wednesday, and 70s by the Week's end—flirting to 80° by Tuesday next week

Published Mon, 23 Dec 2024 18:56:34 GMT

Warmer days ahead for Chicago—we'll break into the 60s away from Lake Michigan Wednesday afternoon and make it to the 70s by week's end—though lake breezes will be cooling the shoreline—the weekend is to see organized east winds which will cool shoreline locations even as inland areas warm—but it appears we'll be flirting to 80 by TUES/WED next week!MAMMOTH SPRING STORM Below normal temps moved into an 11th consecutive day Tuesday—featuring a sub-normal high of 54° and 31 mph wind gusts at O'Hare (Midway made it to 55° Monday). It marked the 5th day in which Chicago's weather was controlled by the mammoth spring storm which has wreaked havoc over a wide swath of the Midwest and East coast—producing up to 29" of snow the past two days followed by 1 to 3.70" rainfalls in parts and 50+ mph wind gusts across a swath of Michigan's Upper Peninsula; generating Monday's deadly downstate I-55 downstate dust storm and forcing Chicagoans to keep a close watch on the sky for what little sun we'...

Warriors’ fourth quarter rally falls short as Lakers take Game 1

Published Mon, 23 Dec 2024 18:56:34 GMT

SAN FRANCISCO — The Warriors’ double-digit comeback in the fourth came up short as the Los Angeles Lakers beat the defending champs 117-112 to take Game 1 of the Western Conference Semifinals.The Lakers were up by 14 points, their largest lead of the game, near the midway point of the fourth. But the Warriors rallied back, with Jordan Poole and Stephen Curry hitting back-to-back shots from deep to tie the game at 112 with less than two minutes remaining.But Golden State never jumped the Lakers.With Los Angeles up by three, Curry rebounded a missed 3-pointer by LeBron James and moved the ball up the floor. But the Lakers countered by doubling Curry, who couldn’t break free. He passed it off to a wide-open Jordan Poole, who’s 27-foot jumper was off the mark.The Lakers corralled the rebound and effectively ended the game with two D’Angelo Russell free throws with 2.7 seconds left.Anthony Davis, who is the Warriors’ biggest — literally — c...

WCAL champs: Valley Christian clinches regular-season title, one win from perfection

Published Mon, 23 Dec 2024 18:56:34 GMT

NEW: PREP SPORTS MAILBAGThe Bay Area News Group is introducing a high school sports mailbag in May. Get your questions in as soon as possible. Our debut edition is an open forum. Got questions about spring sports playoffs, coaching changes, an early peek at football season, etc.? Send questions to [email protected]. Please include “mailbag” in the subject line.SAN JOSE — Valley Christian is no stranger to West Catholic Athletic League baseball success.The Warriors have filled their trophy case with numerous league and section championship hardware under longtime coach John Diatte.But this year’s edition, ranked No. 1 team by the Bay Area News Group, is on the verge of doing something that even the program’s teams that won three consecutive WCAL crowns from 2017-19 didn’t do: Go 14-0 in league play.Valley Christian clinched the WCAL title on Tuesday, winning on the road over Bellarmine 7-2. The Warriors are 23-3 overall and 13-0 in the league.They can compl...

Passenger cited in alleged attack on airline worker at SFO

Published Mon, 23 Dec 2024 18:56:34 GMT

SAN FRANCISCO – A 47-year-old Montgomery, Texas, man has been cited in connection with an attack on a United Airlines employee at San Francisco International Airport, officials said.The incident unfolded just before midnight Sunday at Terminal 3, according to separate statements issued by the airline and the San Francisco Police Department.The airline said the man assaulted a customer service employee while boarding a flight to Houston.“This customer’s behavior was unacceptable,” the airline said. “He has been banned from future United Airlines flights and we are working with local law enforcement in their investigation.”The passenger was detained in the terminal. Police said he was cited and released for battery.Another passenger, Naya Jimenez, recorded video of the incident, ABC7 News reported. Jimenez told the station the passenger was angry because an airline employee asked his wife, and then him, to move out of her assigned seat. He then appeared to punch the worker several tim...

Lakers hold off Warriors to win Game 1 117-112

Published Mon, 23 Dec 2024 18:56:34 GMT

SAN FRANCISCO (KRON) -- The Los Angeles Lakers won Game 1 of their highly anticipated Western Conference semifinal series against the Golden State Warriors 117-112 on Tuesday night. The series was billed as LeBron James vs. Stephen Curry, but in Game 1 it was James' co-star stealing the show. Anthony Davis was at his best, impacting both sides of the ball with 30 points, 23 rebounds and four blocks. Why Draymond Green ‘lost a lot of respect’ for Kings star Sabonis Davis led the Lakers to a second-half advantage and the game appeared to be slipping away from the Warriors in the fourth quarter, but they rallied to score 14 straight points and tie it up. Lakers guard D'Angelo Russell put the Lakers back ahead with a layup with 1:24 remaining, and Golden State's Jordan Poole missed a deep 3-pointer that would have tied the game with nine seconds left. The game stayed tight throughout the first half, after which the Lakers led 65-64. The Lakers created some distance for themselves in ...

French Police Are Sweeping Up Protesters and Bystanders in Crackdown on Dissent

Published Mon, 23 Dec 2024 18:56:34 GMT

On the evening of March 18, with protests raging across France over an unpopular hike in the retirement age, police in Paris detained an individual in the heart of the Latin Quarter.The arresting officer checked off boxes indicating the person had been detained for “participating in a group preparing to commit violence” and “participating in a crowd despite orders to disperse” — two of the most common criminal accusations leveled at protesters in France, and ones that advocates say are now overused to the point of abuse. But, according to a formal arrest sheet shared with The Intercept by Paris-based human rights lawyer Raphaël Kempf, the only detail provided by the officer for these violations read as follows: “black pants and black jacket, sunglasses, North African, short, black hair.”The detainee was later released without charge, but the real goal — to sweep up demonstrators and tamp down protests — was accomplished, according to human rights attorneys alarmed at the style of th...

Davis, James deliver as Lakers top Curry, Warriors in Game 1

Published Mon, 23 Dec 2024 18:56:34 GMT

SAN FRANCISCO (AP) — Anthony Davis had 30 points, 23 rebounds, five assists and four blocked shots, LeBron James added 22 points and 11 rebounds dueling with Stephen Curry in their latest postseason showdown, and the Los Angeles Lakers held off a late flurry by the Golden State Warriors to win an entertaining Game 1 in the Western Conference semifinals 117-112 on Tuesday night.Jordan Poole missed a 3-pointer to tie it with 9.7 seconds left as the Warriors’ rally in the closing minutes fell short. Curry’s 3 with 1:38 left tied the game, then D’Angelo Russell answered right back before Davis blocked a shot by Curry moments later. James missed the first of two free throws with 1:05 to go.Poole’s 3 with 2:48 remaining cut the Lakers’ lead to 112-109, and James was called for traveling with 1:53 left For all-time scoring leader James and Curry — who has the most 3-pointers ever — this is a new chapter in the long rivalry between the superstars after they fac...

India’s RBI single in 10th lifts Reds over Padres, 2-1

Published Mon, 23 Dec 2024 18:56:34 GMT

SAN DIEGO (AP) — Jonathan India singled in the go-ahead run on Luis Garcia’s first pitch of the 10th inning and the Cincinnati Reds beat San Diego 2-1 Tuesday night to snap the Padres’ three-game winning streak. India’s single to left off Garcia (1-3) brought in automatic runner Matt Reynolds. Alexis Diaz walked Trent Grisham opening the bottom of the inning but then struck out Fernando Tatis Jr., retired Manny Machado on a fly ball to left and caught Juan Soto looking at strike three to earn his fifth save.Derek Law (1-4) pitched the ninth for the win.Michael Wacha held the Reds to two hits in six shutout innings and Nick Martinez pitched a perfect seventh before Cincinnati tied it 1-1 with two singles in the eighth. TJ Friedl singled with one out, stole second and scored on Jake Fraley’s two-out base hit to right. Soto, heating up after a slow start, doubled in Manny Machado with two outs in the third. Soto scorched a ball just fair down the line and and in...