Qmbb Biden meets with national security team as U.S. helps defend Israel against Iran
WASHINGTON AP 鈥?Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed drive to curb inflation by aggressively raising interest rates would bring some pain. On Wednesday, Americans may get a better sense of how much pain could be in store.The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate 鈥?which affects many consumer and business loans 鈥?to a range of 3% to 3.25%, the highest le
stanley cup vel in 14 years.READ MORE: No guarantee Fed can tame inflation without hurting employment, Powell warnsIn a further sign of the Fed deepening concern about inflation, it will also likely signal that it plans to raise rates much higher by year end than it had forecast three months ago 鈥?and to keep them higher for a longer period.Economists expect Fed officials to forecast that their key rate could
stanley cup go as high as 4% by the end of this year. They ;re also likely to signal additional increases in 2023, perhaps to as high as roughly 4.5%.Short-term rates at that level would make a recession likelier next year by sharply raising the cost of mortgages, car loans and business loans. The Fed intends those higher borrowing costs to slow growth by cooling off a still-robust job market to cap wage growth and other inflation pressures. Yet the risk is growing that the Fed may
stanley cup weaken the e Gukh Read Joe Kennedy s full Democratic response to the State of the Union
WASHINGTON 鈥?Federal drug agents have arrested more than 100 people across the country in the latest phase of a national crackdown on manufacturers and purveyors of synthetic drugs, the Drug Enforcement Administration said Thursday.The DEA and other state and federal agents arrested 151 people in 16 states since July 2014 in an operation that ended Thursday.Government agents also seized more than $15 million in cash and assets as part o
af1 f Project Synergy, an ongoing DEA crackdown on synthetic drugs.Agents in Los Angeles and Bakersfield, California, seized about $500,000 in cash and more than 200 pounds of drugs, the DEA said. Several hundred people have been arrested since the agency first such operation in 2012.The DEA has been focusing on synthetic drugs, including bath salts, Spice and Molly, since the drugs gained widespread popularity years ago. The agency is responsible for enforcing federal drug
stanley cup laws.In late 2010, the DEA moved to ban five chemicals used to make synthetic marijuana blends, including K2, Spice and Blaze. Since then, illegal drug manufacturers have
stanley cup continued to modify their formulas and develop new chemical mixtures.Reports of synthetic marijuana products identified by local, state and federal drug labs have skyrocketed since 2009. That year, labs reported 23 cases. Last year there were roughly 37,500. Left: Packets of synthetic marijuana ille