Unbiased headline news for Wednesday May 15, 2024 – The Federal Reserve Chairman said “it may take longer than expected” for inflation to be brought under control as he gave no indication of an imminent interest rate reduction.
“We did not anticipate this path to be a smooth one,” Fed Chair Jerome Powell remarked at an annual Foreign Bankers’ Association meeting held in Amsterdam. Powell acknowledged that the United States’ inflation figures “were higher than I believe anybody expected” as he maintained that future steps should involve “being patient and allowing restrictive policy to take effect.”
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European Union member nations adopted groundbreaking reform of the bloc’s migration and asylum system with new regulations designed to process arrivals in an orderly and efficient manner, standardize procedures, and alleviate pressure on front-line countries.
The 10 new laws adopted by a European Council meeting in Brussels include triaging of arrivals at the border, enhanced data collection to inform policy and gain control over migration, a standard asylum procedure for quick initial assessments, and a new mandatory border procedure for well-defined cases.
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The Justice Department stated that it is evaluating whether to prosecute aircraft manufacturer Boeing after federal investigators accused the corporation of violating the terms of a 2021 deferred prosecution agreement.
Federal prosecutors wrote that Boeing “breached its obligations” under the deferred prosecution agreement, in part by allegedly failing to “design, implement, and enforce a compliance and ethics program to prevent and detect violations of the U.S. fraud laws throughout its operations.”
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A group of prominent TikTok users filed a lawsuit against the federal government over a new law that would force the sale of the widely popular video-sharing app.
The eight users, who collectively have millions of followers on TikTok, argued that the law signed by President Biden last month violates their First Amendment rights by threatening to shut down a communication medium that has become a prevalent part of American life.
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Multiple individuals lost their lives, including a woman who was nine months pregnant, after severe storms swept through the South, according to officials.
Three people were killed in Louisiana — including the pregnant woman and her unborn child — due to severe weather on Monday, officials said. The pregnant woman was killed when a tree fell on her mobile home in Port Allen in West Baton Rouge Parish, the Louisiana Department of Health stated.
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Eight individuals were killed when a bus carrying approximately 53 farmworkers was struck by a truck and overturned on West Highway 40 in central Florida, according to state officials.
The truck driver, Bryan Maclean Howard, was arrested on eight counts of driving under the influence-manslaughter, the Florida Highway Patrol said. Thirty-eight people were injured, eight of whom are in critical condition and 30 who have non-life-threatening injuries, according to Marion County Fire Rescue.
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A Maryland woman accused of plotting to carry out attacks on multiple energy substations surrounding Baltimore pleaded guilty to federal conspiracy and firearms charges, court records show.
Sarah Beth Clendaniel, of Catonsville, was charged last year with conspiring with a Florida-based founder of the neo-Nazi group Atomwaffen to carry out the attacks, in what prosecutors described as a racism-fueled plot to spark mass chaos in the majority-Black city.
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Dozens of Red Lobster locations across the U.S. are facing closure.
Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain’s “footprint rationalization.” The locations span across more than 20 states.
