Chair Jerome Powell’s written testimony Tuesday marked a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it’s moving closer to cutting interest rates.
Nation / World
National and world news from the Sun Journal.
Posted inBusiness, Nation / World
FTC report slams pharmacy benefit managers, says firms inflate drug costs, squeeze competitors
An interim FTC report released Tuesday details the market influence of companies known as PBMs.
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Posted inNation / World, News, Politics
Key senators agree on spending for next year, setting up clash with House
Sen. Susan Collins of Maine said the U.S. faces one of the most perilous security environments in the last 50 years, and that threats from Iran, Russia and China ‘must be met with the resolve to invest in a stronger national defense.’
Posted inBusiness, Nation / World
Target will stop accepting personal checks next week. Are the days of writing a check numbered?
The chain cited ‘extremely low volumes’ of customers who still write checks.
Posted inNation / World, News
NATO signs $700 million Stinger missile contract to boost alliance’s arms production
Out of 32 NATO members, 23 are expected to meet a commitment to spend 2% of their gross domestic product on defense this year, up from just 6 nations before Russia’s invasion of Ukraine.
Posted inBusiness, Nation / World, News
NRA’s former CFO banned for 10 years from managing money for any nonprofit
A jury found him liable in a scheme to have the influential gun rights organization bankroll a longtime chief executive’s extravagant lifestyle.
Posted inBusiness, Nation / World, News
In a first, federal regulators ban messaging app from hosting minors
The FTC says the app NGL aggressively marketed itself to youngsters and exaggerated its power to prevent bullying.
Posted inNation / World, News
Ukraine mourns as rescuers search rubble of Kyiv children’s hospital struck by missile
The Russian strike on the Okhmatdyt children’s hospital, which interrupted open-heart surgery and forced young cancer patients to take their treatments outdoors, drew international condemnation.
Posted inNation / World, News
Beryl leaves hot misery in Houston area, still threatens flooding
It could take days to fully return power in Texas after Beryl toppled 10 transmission lines, leaving 16 hospitals running on generator power.
Posted inElection 2024, Nation / World, Politics
Republican Party adopts platform that softens language on abortion, same-sex marriage
The draft was circulated Monday among members of the 2024 Republican convention platform committee. It will be discussed and voted on later this week.