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Fed raises key rate by quarter-point despite bank turmoil

Published Wed, 26 Feb 2025 05:26:02 GMT

By CHRISTOPHER RUGABER (AP Economics Writer)WASHINGTON (AP) — The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.“The U.S. banking system is sound and resilient,” the Fed said in a statement after its latest policy meeting ended. At the same time, the Fed warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions” and “weigh on economic activity, hiring and inflation.” The central bank also signaled that it’s likely nearing the end of its aggressive streak of rate hikes. In its statement, it removed language that had previously said it would keep raising rates at upcoming meetings. The statement now says “some additional policy firming may be appropriate” — a we...

DeSantis to expand ‘Don’t Say Gay’ law to high schools

Published Wed, 26 Feb 2025 05:26:02 GMT

TALLAHASSEE, Fla. (AP) — The administration of Florida Gov. Ron DeSantis is moving to forbid classroom instruction on sexual orientation and gender identity in all grades, expanding the controversial law critics call “Don’t Say Gay” as the Republican governor continues a focus on cultural issues ahead of his expected presidential run. The proposal, which would not require legislative approval, is scheduled for a vote next month before the state Board of Education and has been put forth by state Education Department, both of which are led by appointees of the governor. The rule change would ban lessons on sexual orientation and gender identity from grades 4 to 12, unless required by existing state standards or as part of reproductive health instruction that students can choose not to take. DeSantis has leaned heavily into cultural divides on his path to an anticipated White House bid, with the surging Republican increasingly pursuing a conservative agenda that targets what he c...

Kansas lawmakers near approval of ‘born alive’ abortion bill

Published Wed, 26 Feb 2025 05:26:02 GMT

TOPEKA, Kan. (AP) — A Kansas proposal based on the disputed idea that providers leave infants to die after they’re born during abortions is nearing legislative approval, as Republicans pursue limited anti-abortion measures following a decisive statewide vote last year protecting abortion rights.The Kansas House voted 88-34 on Wednesday to approve a bill declaring that when an abortion procedure results in a live birth, medical personnel must take the same steps to preserve the newborn’s life as “a reasonably diligent and conscientious” provider would with other live births. The measure is similar to a proposed Montana law that voters there rejected in November and laws in 18 states, including Arizona, Florida, Ohio and Texas. The U.S. Supreme Court declared in June that states can ban abortion, and the Republican-controlled Kansas Legislature has long had strong anti-abortion majorities in both chambers. But a 2019 Kansas Supreme Court decision protected abortion rights ...

Rapper Tekashi 6ix9ine injured in assault at Florida gym

Published Wed, 26 Feb 2025 05:26:02 GMT

LAKE WORTH, Fla. (AP) — Rapper Tekashi 6ix9ine, whose testimony against his own gang helped convict two high-ranking members, was assaulted by several people at a gym in Florida, officials said Wednesday.An “altercation between several individuals” brought Palm Beach County sheriff’s deputies to an LA Fitness outlet in Lake Worth on Tuesday night, the sheriff’s office said in a social media post.The assault left the rapper, whose real name is Daniel Hernandez, with several injuries. He was taken to a hospital but his injuries were not considered life-threatening, officials said.A motive for the assault, including whether it was connected to his cooperation with prosecutors, was unclear. No arrests have been made, and investigators have asked anyone with information to contact them. The rapper’s attorney, Lance Lazzaro, did not respond to an email from The Associated Press. But he told other news outlets that Hernandez was attacked by three or four people in t...

Mississippi initiative proposal, minus abortion, in limbo

Published Wed, 26 Feb 2025 05:26:02 GMT

JACKSON, Miss. (AP) — Mississippi Senate leaders are not saying whether they will support a new initiative process that would allow voters to put proposed state laws — but nothing dealing with abortion — on the ballot.Senators face a Thursday deadline. They could accept a House proposal to create a new process, which appears unlikely. They could seek final negotiations between the two Republican-controlled chambers. Or they could let the issue die during a year when most lawmakers are seeking reelection.On Wednesday, Republican Lt. Gov. Delbert Hosemann and a key senator would not tell reporters whether they will keep the issue alive. Hosemann said he and other Senate leaders are making “good progress,” but he would not specify what that meant.Senate Accountability, Efficiency and Transparency Committee Chairman John Polk, a Republican from Hattiesburg, said he is talking to Hosemann and Senate colleagues about the House proposal.“I’ve got a lot of thinking to do and reading a...

Sports gambling legislation advances in North Carolina House

Published Wed, 26 Feb 2025 05:26:02 GMT

RALEIGH, N.C. (AP) — Legislation authorizing and regulating sports gambling in North Carolina advanced through two more House committees on Wednesday, laying the groundwork for key chamber-wide votes next week. The finance and judiciary committees approved the measure one day after the House commerce panel also advanced details of a proposed infrastructure whereby people across the state could wager online and at or near pro sports stadiums and arenas. From 10 to 12 interactive sports wagering licenses would be awarded by the state lottery commission. Although sports gambling happens lawfully now at three American Indian casinos in the state, North Carolina is a largely untapped market in a country where over 30 states allow some kind of in-person or online sportsbooks, including neighboring Virginia and Tennessee. Democratic Gov. Roy Cooper also supports legalizing sports gambling. A sports gambling measure passed the Senate comfortably in 2021. But the effort collapsed in the Hous...

2 teens killed, 1 wounded in shooting near NC middle school

Published Wed, 26 Feb 2025 05:26:02 GMT

DURHAM, N.C. (AP) — Two 16-year-old boys were killed and one was wounded in a shooting in Durham, North Carolina, officials said.The three teens were shot Tuesday night near Brogden Middle School, news outlets reported, citing the Durham Police Department. Officers initially responded to a report of a juvenile shot and found the victim’s parents had taken him to a hospital, police said. The teen told officers that two others may have been shot and authorities spent the night using a drone and a cadaver dog to search the area. The bodies of the two other teens were found Wednesday morning after daylight, according to the reports. The hospitalized teen was in stable condition with life-threatening injuries, police said.Police have not released the teens’ identities. They said the shooting does not appear to be random, and the investigation is ongoing.The Associated Press

Musicians fight threat of Tennessee anti-LGBTQ, drag bills

Published Wed, 26 Feb 2025 05:26:02 GMT

NASHVILLE, Tenn. (AP) — When Tennessee lawmakers passed legislation this month targeting drag performances and transgender youth, many musicians living and working in the state felt their community, their audiences and their artistic expressions were also under fire.The trend of conservative-led legislatures introducing laws limiting LGBTQ rights or using hateful rhetoric about trans people has led the tightly knit musical community in Tennessee to use their voices and songs to raise awareness and money, as well as encourage music fans to get out and vote.Love Rising, a concert held on Monday in Nashville, featured Grammy-winning artists like Sheryl Crow, Jason Isbell, Maren Morris, Hayley Williams and Brittany Howard alongside drag performers and trans and queer singer-songwriters. The following night, the effort continued with a second show, We Will Always Be, featuring a showcase of LGBTQ artists in collaboration with Black Opry.“No one is in danger from our community, from our b...

Transportation Safety Board report on sinking cites lax federal rules on stability

Published Wed, 26 Feb 2025 05:26:02 GMT

HALIFAX — A Transportation Safety Board of Canada report has linked the fatal sinking of a Nova Scotia scallop dragger in 2020 to years of federal inaction on the imposition of stricter stability standards for fishing vessels.The report released Wednesday says the Chief William Saulis should have been tested for stability, given the fact that major changes had been made to the boat by its owners. They had added a heavy, A-frame structure for scallop dragging, a protective plate to the boat’s stern, and covers to close drainage holes.On Dec. 15, 2020, the modified vessel capsized in the Bay of Fundy during a gale as it returned to its home port in Digby, N.S. All six crew on board died.The independent agency says Transport Canada inspectors during a 2017 visit didn’t tell Yarmouth Sea Products Ltd. that the modifications to the boat were stability “risk factors,” which were defined in a federal safety bulletin and questionnaire.It says these factors “wou...

WATCH LIVE | Harvey man sentenced in Will County after high-speed chase from Cook County

Published Wed, 26 Feb 2025 05:26:02 GMT

WILL COUNTY, Ill. — 28-year-old Jordan Henry will spend at least a decade behind bars after being sentenced by a Will County judge related to a car theft and high-speed chase which began in Cook County.Henry was arrested on Feb. 23, 2022 following the pursuit across Chicago area expressways. He was charged, and ultimately found guilty of, the following 13 counts:Three counts of Aggravated Vehicular Hijacking (Class X Felony – Category A)Two counts of Armed Robbery (Class X Felony-Category A)Two counts of Attempt Aggravated Vehicular Hijacking (Class 1 Felony – Category A)Aggravated Unlawful Possession of Stolen Motor Vehicle (Class 1 Felony – Category A)Two counts of Theft (Class 2 Felony – Category A)Unlawful Possession of a Weapon by a Felon (Class 3 Felony – Category A)Aggravated Fleeing or Attempting to Elude a Peace Officer (Class 4 Felony – Category A)Striking a Police Animal (Class A Misdemeanor – Category B) AP sources: Trump probe grand jury not meeting for the day Will C...