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Little progress has been made in curbing too high inflation, Fed’s Jefferson says

Published Wed, 26 Feb 2025 01:34:23 GMT

WASHINGTON (AP) — Federal Reserve governor Philip Jefferson said Friday that inflation remains too high and there has been “little progress” made toward bringing it down to the central bank’s 2% target, a pessimistic assessment given signs in a report earlier this week that price increases might be slowing. Jefferson, who was nominated by President Joe Biden earlier Friday to the position of Fed vice chair, also said in a speech at the Hoover Institution in California that the turmoil in the U.S. financial system following the failure of three large banks will likely have only a limited impact on the economy. Jefferson’s potential elevation to the No. 2 spot on the Fed’s seven-member board would give him greater influence over interest rate policy and make him a close colleague of Chair Jerome Powell. While inflation has declined from its June peak by about 2.75 percentage points to 4.2% in March, compared with a year ago, Jefferson said that “nearly all” of the de...

Anti-corruption advocate hopes new financial crime body can start ‘scaring bad guys’

Published Wed, 26 Feb 2025 01:34:23 GMT

Anti-corruption advocate James Cohen says Canada’s reputation has for years been “hammered” over its weak record of prosecuting financial crimes.But now the executive director of Transparency International Canada is hopeful there’s political will to tackle the problem, and that the establishment of the Canada Financial Crime Agency will finally start “scaring the bad guys.”Cohen’s group released a white paper this week about the Trudeau government’s plan to create the agency, outlined in the latest federal budget, to tackle financial crime across the country. He’s cautiously optimistic, but his organization also warns that the feds may be missing an opportunity to tackle corruption and securities fraud by focusing solely on money laundering. The 2023 budget outlined how the Trudeau government intends to make the Canada Financial Crime Agency the “lead enforcement agency against financial crime.”“It will bring to...

‘He wanted to live the American Dream’: Honduran teen dies in US immigration custody

Published Wed, 26 Feb 2025 01:34:23 GMT

TEGUCIGALPA, Honduras (AP) — The mother of a 17-year-old boy who died this week in U.S. immigration custody demanded answers from American officials Friday, saying her son had no known illnesses and had not shown any signs of being sick before his death. The teenager was identified as Ángel Eduardo Maradiaga Espinoza, according to a tweet from Honduran foreign relations minister Enrique Reina. Maradiaga was detained at a facility in Safety Harbor, Florida, Reina said, and died Wednesday. His death underscored concerns about a strained immigration system as the Biden administration manages the end of asylum restrictions known as Title 42. His mother, Norma Saraí Espinoza Maradiaga, told The Associated Press in a phone interview that her son “wanted to live the American Dream.”Ángel Eduardo left his hometown of Olanchito, Honduras, on April 25, his mother said. He crossed the U.S.-Mexico border some days later and on May 5 was referred to the U.S. Department of Health and Human Servic...

Peloton issues voluntary recall of faulty bike seat post in Canada

Published Wed, 26 Feb 2025 01:34:23 GMT

Peloton has issued a voluntary recall of its original Bike’s seat post for Canadian customers. The U.S. exercise equipment maker says the seat post assembly can break during use, posing fall and injury hazards. The recall affects the original PL-01 model of the bike which features the red “P” logo followed by the white-coloured “Peloton” brand name on the frame and by its non-swivel display. The bike’s in question were sold from January 2018 to May 2023 in Canada.Peloton says the issue has occurred primarily in users who are taller than five-foot-11 and 250 pounds. The company says it has received one report of seat posts breaking, and no reports of injuries, out of 108,000 units sold in Canada.Customers are asked to stop using the recalled exercise bike and to contact their support team toll-free at 833-821-0099 from 6 a.m. to 12 a.m. ET, 7 days a week or online at www.support.onepeloton.ca to obtain a free seat post repair that can be self-installed.On Thur...

Man charged after morning robbery on Blue Line train

Published Wed, 26 Feb 2025 01:34:23 GMT

CHICAGO — A man has been charged after he allegedly robbed a man last week on a Blue Line train, according to Chicago police.James Adams, 30, was arrested Thursday in the 1700 block of South State Street after police said he robbed another man on the train. Man wanted after 35-year-old battered, robbed on Blue Line train He has been charged with one count of robbery, according to the Chicago Police Department.The robbery happened around 6:15 a.m. near the Western stop, which is in the 1900 block of North Western Avenue.Police said Adams allegedly took the property of a 35-year-old man and left.

1 dead, 1 injured after confrontation leads to shooting in DeKalb

Published Wed, 26 Feb 2025 01:34:23 GMT

DEKALB, Ill. — A 19-year-old man is dead and another person was injured in a shooting late Thursday night in DeKalb, according to police.The shooting happened around 11:15 p.m. in the 400 block of Russell Road, about a block north of the Northern Illinois University campus. Youth football coach shot, killed outside Chicago home while taking his daughter to school When officers arrived, they found Marlon King, 19, and another person who had been shot, according to a news release from the DeKalb Police Department.King died and the other person, whose identity hasn't been released, was flown to a Rockford hospital, police said. Their condition hasn't been released.During an investigation, detectives learned there was a confrontation that led to multiple people firing shots, according to the release. Jayden Hernandez, 19, of DeKalb, was arrested and charged with first degree murder, mob action and resisting a peace officer.Carreon Scott, 20, of DeKalb, was preliminary charged with fir...

Body found inside Louisiana Arby's freezer identified as manager

Published Wed, 26 Feb 2025 01:34:23 GMT

NEW IBERIA, La. (KLFY) – The body of an Arby's employee was found inside a walk-in freezer at the New Iberia, Louisiana restaurant Thursday night, police confirmed. Police say they arrived at the restaurant along Admiral Doyle Drive just after 6 p.m. The Iberia Parish Coroner's Office confirmed that the person in the freezer, a woman, was dead at the scene. Starbucks rolls out $1 charge for certain orders, causing confusion The woman was a manager at the Arby's, Nexstar's KLFY reports, but her name wasn't immediately released.Captain Leland Laseter of the New Iberia Police Department's Criminal Investigations Division told KLFY that the death remained under investigation Friday, adding that no foul play is suspected at this time. On Friday, the restaurant was closed for the day. Police did not release additional details Friday evening, citing the ongoing investigation.

Michigan students protest backpack ban after gun incidents

Published Wed, 26 Feb 2025 01:34:23 GMT

GRAND RAPIDS, Mich. (WOOD) — Thursday was the first day of a new backpack ban for students at Grand Rapids Public Schools in Michigan. The ban comes after an 8 year-old brought a loaded gun to Stocking Elementary Wednesday, the fourth similar case this school year.GRPS student Nola Degroft helped plan a protest outside of Innovation Central High School Thursday. She's concerned about safety but says the backpack ban goes too far. According to the district website, the ban is for any bags large enough to conceal a weapon the size of a firearm. Clear bags are also not allowed.“People are feeling very vulnerable because we’re having our privacy and security taken away. We can’t properly carry things,” Degroft said. Texas property owner finds ankle monitor on his roof Degroft and other students say they want the district to consider other options like clear backpacks or metal detectors. Under the ban, students can still bring lunchboxes and small compacts to carry personal hygiene ite...

CROWN Act passed by Texas Senate

Published Wed, 26 Feb 2025 01:34:23 GMT

AUSTIN (KXAN) -- House Bill 567, also known as the Texas CROWN Act, was successfully voted out of the Texas Senate Friday and is now headed to Gov. Greg Abbott's desk for his signature. According to the authors of the bill, CROWN stands for Creating a Respectful and Open World for Natural Hair.The act aims to create a respectful environment for natural hair and would prohibit discrimination based on hair texture or protect hairstyles associated with race. Previous: CROWN Act passes Texas House, heads to Senate It was successfully voted out of the Texas Senate 29-1, and is heading to the governor's desk, where Abbott could sign it into law. “I am incredibly thankful to Lt. Governor Dan Patrick and Chairman Bryan Hughes for swiftly advancing The CROWN Act," Rep. Rhetta Bowers, D- Rowlett, who authored the bill, said. "I also owe a great deal of gratitude to Senator Borris L. Miles, our Senate Sponsor, for shepherding the bill through the Senate. I must expre...

After St. Paul mosque vandalized, Islamic group asks for investigation into potential bias motivation

Published Wed, 26 Feb 2025 01:34:23 GMT

Someone vandalized a mosque in St. Paul on Friday, and the Council on American-Islamic Relations’ Minnesota chapter asked for law enforcement to investigate whether the crime was motivated by bias.A person with a large rock threw it several times at As-Sunnah Islamic Center about 7 a.m. and caused significant damage, according to CAIR-MN, which provided a video:Officers who responded to the mosque on Pedersen Street, off Old Hudson Road, found glass on the building’s exterior door had been broken. The mosque is in the Conway area of the East Side.No one was immediately arrested.“We value and care about gathering places of all faiths,” said Alyssa Arcand, a police spokeswoman. “A crime committed at any of them gets our full attention. We are working to figure out what exactly happened in this case and who is responsible.”It was the fifth attack on a mosque in Minnesota this year, according to CAIR-Minnesota Executive Director Jaylani Hussein.“...