News in brief for May 8
Powell holds rates, says next step is ‘not at all clear'
The unanimous decision to stand pat will keep interest rates at 4.25% to 4.5%, where they have been since December after a series of cuts in the second half of 2024.
In a statement Wednesday, the Fed acknowledged that the labor market was still "solid." But policymakers also noted that "uncertainty about the economic outlook has increased further" and "risks of higher unemployment and higher inflation have risen."
At a news conference after the decision, Fed Chair
"It's really not at all clear what it is we should do," he said.
His comments dampened expectations that the Fed will lower rates in June.
Since the Fed's last meeting in March, the administration announced and then rolled back aggressive new tariffs as Trump gave countries time to reach trade deals before a July deadline. Still, a 10% universal tariff remains in place, along with additional levies on steel, aluminum and cars. The president has also imposed a minimum tariff of 145% on Chinese goods.
The whiplash has unnerved financial markets, stoking volatility as
No pope elected on cardinals' first vote
The initial vote had not been expected to yield a pontiff. The cardinals, the most ever to gather in a papal conclave, will retire to guest quarters at
The first conclave in more than a decade, a little more than two weeks after
Alligator kills
(NYT) - A 61-year-old woman was killed Tuesday when an alligator tipped over the canoe that she and her husband were paddling in
The attack took place just after
Maj.
The alligator then "thrashed and tipped the canoe over," Laskowski said, throwing the couple into the water.
Laskowski said alligator trappers were dispatched to the area, where they captured two alligators Tuesday evening.
One was more than 11 feet long, which matched "the length and description of the alligator involved in the incident," he said. The second alligator was approximately 10 to 11 feet long. It was not immediately clear if the gators were euthanized.
US school districts facing extortion attempt after hack
The
In an update on Wednesday the company said it was "aware that a threat actor has reached out to multiple school district customers in an attempt to extort them," and for the first time acknowledged that the company paid a ransom for an undisclosed amount to the hackers responsible for the breach. The extortion attempts relied on data stolen as part of that incident, the company said.
The company made what it called "the difficult decision" to pay the ransom "because we believed it to be in the best interest of our customers and the students and communities we serve."


UConn Health could acquire more hospitals
SiriusPoint appoints Global Head of Marine and strengthens offering with key appointments
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