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Text of the Federal Reserve’s policy statement Wednesday

Published Thu, 20 Feb 2025 18:56:54 GMT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended:Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5 to 5-1/4 percent. The Committee will closely monitor incoming information and assess the implications for monetary policy. In determining the extent to which additional policy firming may be appropriate to return inflation to...

French constitutional body rejects pension referendum call

Published Thu, 20 Feb 2025 18:56:54 GMT

PARIS (AP) — France’s top constitutional body rejected on Wednesday a last-ditch effort by opposition lawmakers to undo President Emmanuel Macron’s law to raise the retirement age to 64, deeming that a proposed bill doesn’t meet the needed criteria. It was the second time that the Constitutional Council has rejected the plan to restore the retirement age to 62, notably via a possible referendum or new bill. Had it passed muster, the process called for would be long and wouldn’t stop Macron’s law from taking effect.The council ruled that the proposed legislation doesn’t address a required “reform regarding social policy … and therefore judges that it does not satisfy conditions” set out in the French Constitution.Opposition lawmakers, mainly from the left, wanted to launch a complex process in hopes of rejecting Macron’s unpopular pension law that was enacted last month. The Constitutional Council’s role was to assess whether the opposition’s...

Man dies after being placed in headlock on NYC subway

Published Thu, 20 Feb 2025 18:56:54 GMT

NEW YORK (AP) — A man suffering an apparent mental health episode aboard a New York City subway died this week after being placed in a headlock by a fellow rider, according to police officials and video of the encounter.Jordan Neely, 30, was shouting and pacing aboard an F train in Manhattan on Monday afternoon, witnesses and police said, when he was taken to the floor by another passenger.Video of the altercation posted online by a freelance journalist showed the man lying beneath Neely, holding him in a headlock position for several minutes as Neely tried and failed to break free. A second passenger pinned Neely’s arms while a third held down his shoulder. It was unclear why the group had moved to restrain him.Neely lost consciousness during the struggle, according to a New York City Police Department spokesperson. EMTs and police arrived after the train stopped at a station. Neely was pronounced dead at a Manhattan hospital shortly after. The city’s medical examiner i...

Summer Movies: 6 breakout performances to watch

Published Thu, 20 Feb 2025 18:56:54 GMT

Anonymity can be an actor’s best friend, but this summer several talents are primed to make themselves known in major film roles, whether it’s losing the alien makeup, the protective shield of character work or the comforts of niche small-screen fandoms. Here are six actors bound to have audiences buzzing this summer at the movies.GRETA LEE IN “PAST LIVES”Greta Lee cried through her first reading of Celine Song’s “Past Lives, ” out June 2. The writer-director had written a deeply personal story about childhood friends, and possible soulmates, who reconnect in New York decades later. Nora’s in a relationship but wondering “what if” in this aching romance.“Telling a love story from that point of view felt so radical to me,” Lee said. “It read so quiet, but I was struck by how cosmic it was too. It’s connective. It’s universal. It’s just about life and how short life is and how do we reconcile this.”Lee, a stylish chameleon with comedic chops, has always made the most of every sc...

Juventus and Vlahovic end negative streaks in win over Lecce

Published Thu, 20 Feb 2025 18:56:54 GMT

ROME (AP) — Dusan Vlahovic ended a long scoring drought with the decisive goal and Juventus ended a five-match winless streak across all competitions with a 2-1 victory over visiting Lecce in Serie A on Wednesday.The victory moved Juventus into second place and two points ahead of Lazio, which was hosting Sassuolo later.Lazio needs to beat Sassuolo to prevent Napoli from sealing its first Italian league title in 33 years.Diego Maradona led Napoli to its only two Serie A championships in 1987 and 1990.Juventus, which was already eliminated from title contention, is 16 points behind Napoli.Vlahovic scored before the break to end a run of 773 minutes without a goal in the Italian league. And the Serbia international did it in style, using a half-volley from the edge of the area to find the target.Leandro Paredes had given Juventus an early lead with a free kick around Lecce’s wall before Assan Ceesay converted a penalty to equalize for Lecce.Danilo nearly added another for Juventus wit...

Stock market today: Markets steady after Fed’s rate hike

Published Thu, 20 Feb 2025 18:56:54 GMT

NEW YORK (AP) — Stocks aren’t moving much on Wall Street following the latest hike to interest rates by the Federal Reserve. The S&P 500 was 0.1% higher immediately following the Fed’s announcement. The move was widely expected, and it’s supposed to slow the economy in hopes of getting inflation under control. Wall Street hopes this is the final hike, and the Fed may have given a nod toward that possibility in its statement. Fed Chair Jerome Powell will speak later in the afternoon. The economy has already slowed, and the U.S. banking system has begun to crack under the weight of much higher rates.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.NEW YORK (AP) — Stocks are drifting Wednesday ahead of what Wall Street hopes will be the last hike to interest rates for a long time.The S&P 500 was up 0.1% in midday trading after slumping the prior day. The Dow Jones Industrial Average was down 9 points, or less than 0.1%, at 33,675, as of noon Eastern time, while ...

US sprinter, Olympic medalist Tori Bowie dies at 32

Published Thu, 20 Feb 2025 18:56:54 GMT

Tori Bowie, the sprinter who won three Olympic medals at the 2016 Rio de Janeiro Games, has died. She was 32. Bowie’s death was announced Wednesday by her management company and USA Track and Field. No cause of death was given.“USATF is deeply saddened by the passing of Tori Bowie, a three-time Olympic medalist and two-time world champion,” USA Track and Field CEO Max Siegel said in a statement. “A talented athlete, her impact on the sport is immeasurable, and she will be greatly missed.”According to the Orange County Sheriff’s Office in Orlando, Florida, deputies responded Tuesday afternoon to a home in the area “for a well-being check of a woman in her 30s who had not been seen or heard from in several days.”The sheriff’s office wrote that a woman, “tentatively identified as Frentorish “Tori” Bowie (DOB: 8/27/1990), was found dead in the home. There were no signs of foul play.”Growing up in Sandhill, Mississippi, Bowie was coaxed into track as a teenager an...

Pardon frees more than 2,100 political prisoners in Myanmar

Published Thu, 20 Feb 2025 18:56:54 GMT

BANGKOK (AP) — Myanmar’s ruling military council on Wednesday said it was releasing more than 2,100 political prisoners as a humanitarian gesture. Thousands more remain imprisoned on charges generally involving nonviolent protests or criticism of military rule, which began when the army seized power in February 2021 from the elected government of Aung San Suu Kyi.State-run MRTV television reported that the head of Myanmar’s military council, Senior Gen. Min Aung Hlaing, had pardoned 2,153 prisoners on the most important Buddhist holy day of the year, marking the birth, enlightenment and death of Buddha.In a separate report, it said Min Aung Hlaing had commuted the death sentences of 38 prisoners to life in prison. The report provided no details about them.According to the Assistance Association for Political Prisoners, there were 112 prisoners on death row as of Tuesday who had been put there since the army takeover. The group keeps detailed tallies of arrests and casualties linked ...

Gov. Moore signs abortion protections, transgender equity

Published Thu, 20 Feb 2025 18:56:54 GMT

ANNAPOLIS, Md. (AP) — At a time when Republican-led states are restricting or banning abortion and limiting gender-affirming care, Maryland Gov. Wes Moore signed measures into law on Wednesday to protect abortion rights and expand Medicaid coverage for gender-affirming treatment in the heavily Democratic state.Maryland voters will decide a constitutional amendment next year to enshrine abortion protections in the Maryland Constitution. While the right to abortion already is protected in the state’s law, supporters of the constitutional amendment say that will make it even harder for opponents to try to strip away abortion rights in the future.“In this moment of serious consequences for women and for all Marylanders, Maryland can and will lead on this issue of abortion access,” Moore said, adding that the state will “always be a safe haven for abortion access and abortion rights.”Here is a look at some of the legislation signed by Moore, a Democrat, on Wednesday:ABORTIONOne new...

Man arrested in deadly Jefferson County RV shooting

Published Thu, 20 Feb 2025 18:56:54 GMT

JEFFERSON COUNTY, Colo. (KDVR) — Police have arrested the person who allegedly shot and killed a man inside an RV in a parking lot off Highway 40 in Jefferson County.Donald Leroy Harris, 50, is facing charges of first-degree murder.On April 14, deputies with the Jefferson County Sheriff's Office found an RV with its door open in the RTD Park-N-Ride lot near Interstate 70 and Morrison. When deputies checked the vehicle, they discovered 57-year-old Matthew Hire had been shot and killed. Man killed after altercation at Tesla charging station near Edgewater Public Market According to JCSO, investigators connected Harris to the shooting after they found documents belonging to him inside the RV. Harris was also the last person seen with Hire.Investigators said they collected items from Harris that connected him to the crime. Harris had the victim's cell phone and the keys to the RV, as well as Hire's blood on his clothing. Harris was also allegedly in possession of Hire's Jeep. JCSO sai...