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Federal Reserve’s favored inflation gauge tumbles in November as price pressures continue to ease

Published Fri, 22 Nov 2024 03:49:51 GMT

By PAUL WISEMAN (AP Economics Writer)WASHINGTON (AP) — The Federal Reserve’s preferred measure of inflation fell last month in another sign that price pressures easing in the face of the central bank’s interest rate hikes.Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022. Excluding volatile food and energy prices, so-called core inflation last month rose 0.1% from October and 3.2% from a year earlier.All the numbers show somewhat more progress against inflation than economists had expected.After nearly two years of Fed rate hikes — 11 since March 2022 — inflation has come down from the four-decade highs it hit last year. The Labor Department’s closely watched consumer price index was up 3.1% last month from November 2022, down from a 9.1% year-over-year increase in June 2022.Encouraged by the progress, the Fed has decided not to raise rates at each of its last three meetings.Despite widesp...

Biden pardons thousands convicted of marijuana charges on federal lands and in Washington

Published Fri, 22 Nov 2024 03:49:51 GMT

By ZEKE MLLER (Associated Press)WASHINGTON (AP) — President Joe Biden is pardoning thousands of people who were convicted of use and simple possession of marijuana on federal lands and in the District of Columbia, the White House said Friday, in his latest round of executive clemencies meant to rectify racial disparities in the justice system.Biden is also granting clemency to 11 people serving what the White House called “disproportionately long” sentences for nonviolent drug offenses.Biden said his actions would help make the “promise of equal justice a reality.”“Criminal records for marijuana use and possession have imposed needless barriers to employment, housing, and educational opportunities,” Biden said. “Too many lives have been upended because of our failed approach to marijuana. It’s time that we right these wrongs.”The categorical pardon issued Friday builds on his categorical pardon issued just before the 2022 midterm elections that made thousands convicted of simple pos...

Grieving and often overlooked, Palestinian Christians prepare for a somber Christmas amid war

Published Fri, 22 Nov 2024 03:49:51 GMT

By MARIAM FAM (Associated Press)It’s normally a moment of pure joy for the Rev. Khader Khalilia: the excitement, the giggles, the kisses, as his young daughters — in their Christmas pajamas — open their gifts. But this year, just the thought of it fills Khalilia with guilt.“I’m struggling,” said the Palestinian American pastor of Redeemer-St. John’s Lutheran Church in New York. “How can I do it while the Palestinian children are suffering, have no shelter or a place to lay their heads?”Thousands of miles away, near Jesus’ biblical birthplace of Bethlehem, Suzan Sahori has been working with artisans to bring olive wood Christmas ornaments into homes in Australia, Europe and North America. But Sahori is in no mood for festivities: “We’re broken, looking at all these children, all this killing.”In a traditional season of merriment, many Palestinian Christians — in Bethlehem and beyond — are gripped with helplessness, pain and worry amid the Israel-Hamas war. Some are mourning, lobbying...

Patriots mailbag: What’s Trent Brown’s future with Patriots?

Published Fri, 22 Nov 2024 03:49:51 GMT

The Patriots will have plenty of money to throw around this offseason as they look to construct an almost entirely new offseason.They’re third in projected salary-cap space, per OverTheCap.com, with over $70 million in available funds.One question on Patriots fans’ minds as the offseason nears is what happens with starting left tackle Trent Brown? We’ll answer that and more in this week’s mailbag.Related ArticlesNew England Patriots | Callahan: Handing out 7 holiday gifts to the Patriots New England Patriots | Injuries should force these Patriots players to step up Week 16 vs. Broncos New England Patriots | Patriots running back Kevin Harris ready for bigger opportunity on 53-man roster New England Patriots | QB Nathan Rourke unsure of Patriots plan but excited for opportunity New England Patriots | Callahan: How much of this Patriots season can be blamed on injuries? @carloslucio...

Japan’s Cabinet approves a record $56 billion military budget to speed up strike capability

Published Fri, 22 Nov 2024 03:49:51 GMT

By MARI YAMAGUCHI (Associated Press)TOKYO (AP) — Japan’s defense spending will increase more than 16% next year under a record military budget approved Friday that is intended to accelerate the deployment of long-range cruise missiles that can hit targets in China or North Korea.The budget adopted by the Cabinet also will further fortify the military with F-35 stealth combat jets and other American weapons as Japanese troops increasingly work with allies and take on more offensive roles.The 7.95 trillion-yen ($56 billion) defense budget for the 2024 fiscal year that begins in March marks the second year of a five-year military buildup program under a new security strategy Prime Minister Fumio Kishida’s government adopted a year ago.The reinforcement of strike capability the strategy envisions is a major break from Japan’s postwar principle of limiting the country’s use of force to self-defense. The defense budget is part of a 112.7 trillion-yen ($794 billion) national budget plan an...

Hydrogen tax credit plan unveiled as Biden administration tries to jump start industry

Published Fri, 22 Nov 2024 03:49:51 GMT

WASHINGTON (AP) — The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fueled power.The U.S. credit is the most generous in the world for hydrogen production, Jesse Jenkins, a professor at Princeton University who has analyzed the U.S. climate law, said last week.The proposal — which is part of Democrats’ Inflation Reduction Act passed last year — outlines a tiered system to determine which hydrogen producers get the most credits, with cleaner energy projects receiving more, and smaller, but still meaningful credits going to those that use fossil fuel to produce hydrogen. Administration officials estimate the hydrogen production credits will deliver $140 billion in revenue and 700,000 jobs by 2030 — and will help the U.S. produce 50 million metric tons of hydrogen by 2050.“That’s equivalent to ...

Procrastinators in focus for retailers as the holiday season shopping nears the finish line

Published Fri, 22 Nov 2024 03:49:51 GMT

NEW YORK (AP) — Retailers are stepping up sales and other enticements in the final days before Christmas to lure shoppers who’ve been waiting for the best deals, or who didn’t have the time or the urge to wrap up gift-buying early.Incentives to spend last minute are an extension of ongoing efforts by stores to keep shoppers engaged, an effort that began as early as October this year. Some retailers have put goods on clearance racks and shelves before the holiday to lure bargain hunters. Michaels, the arts and crafts chain, trimmed prices on holiday trees by up to 75% on Dec. 15, cuts that would typically arrive the day after Christmas.“I think this is a more challenging year than if you looked across the last decade of Christmases,” said Amanda Rassi, senior vice president and chief marketing officer at Michaels. “But overall, we’re happy with how it’s come in.”There had been rising concern among retailers leading up to the holiday about the willingness of Americans to s...

One person was injured in shooting at a Virginia hospital. A suspect is in custody

Published Fri, 22 Nov 2024 03:49:51 GMT

RICHMOND, Va. (AP) — Police said one person was injured at a Richmond hospital when a man who had come into the hospital for a mental health evaluation began shooting.Richmond Police Chief Rick Edwards told reporters that a 911 call came in at 4:11 a.m. of shots fired at Chippenham Hospital. Officers who were already in the emergency room responded and found one adult male with critical, but not life-threatening, gunshot wounds. The suspect surrendered and was taken into custody. Edwards said that a Chesterfield police officer who was also at the hospital for an unrelated reason had returned fire with his weapon during the incident, but the suspect was not injured. Edwards said the suspect in the shooting is a 27-year-old man from Glen Allen, Virginia, who had come to the hospital on his own for a mental health evaluation. Edwards said the man was armed and began shooting, but the motive was unclear. The Associated Press

Holiday togetherness can also mean family fights. But there are ways to try to sidestep the drama

Published Fri, 22 Nov 2024 03:49:51 GMT

The holidays, a time where families and friends can get together to talk, to laugh — or get into screaming arguments. There are plenty of reasons togetherness can turn into tension — maybe that cousin you mostly love has that one opinion on politics or world events you just can’t stand, or that one nosy grandparent won’t stop asking about your life choices. Perhaps someone at the table is struggling with a substance abuse issue or a mental health concern. And don’t forget that person who is just mean and miserable and spoiling for a fight.It can be enough to make you want to hit the eggnog extra hard. But experts in psychology and mental health say it doesn’t have to be that way, and they offer suggestions for how to help manage gatherings that might be less than jolly:KNOW YOUR “WHY”It’s important for people to know why they are going into situations they know could be tense or worse, says Ramani Durvasula, Ph.D, a licensed clinical psychologist who ta...

Congress launches an investigation into the Osprey program after the deadly crash in Japan

Published Fri, 22 Nov 2024 03:49:51 GMT

WASHINGTON (AP) — A congressional oversight committee has launched an investigation into the V-22 Osprey program following a deadly crash in Japan which killed eight Air Force special operations service members.The entire Osprey fleet remains grounded following the Nov. 29 crash with the exception of limited Marine Corps flights in emergencies. More than 50 U.S. service members have died in Osprey crashes over the lifespan of the program, and 20 of those died in four crashes over the last 20 months.The Osprey is a fast-moving airframe that can fly like both a helicopter and an airplane — but its many crashes have led critics to warn it has fatal design flaws. The government of Japan, the only international partner flying the Osprey, has also grounded its aircraft after the Nov. 29 crash. On Thursday the U.S. House of Representatives Committee on Oversight and Accountability sent a letter to Defense Secretary Lloyd Austin requesting a massive amount of documentation on the OspreyR...