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How Fed's bigger, faster rate hikes will affect your credit card, mortgage, savings rates

Fed raises ratesThe Federal Reserve is expected Wednesday afternoon to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation.

The central bank is considered likely to raise its benchmark short-term rate by three-quarters of a percentage point, far larger than the typical quarter-point increase, to a range of 1.5% to 1.75%. It will also likely forecast additional large rate hikes through the end of the year.

A series of sizeable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession. The Fed's previous rate hikes have already had the effect of raising mortgage rates roughly 2 percentage points since the year began and have slowed home sales.

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William Barr Says Trump Grew 'Detached From Reality' After Losing Election

Bill Barr

Former President Donald Trump became “detached from reality” in the weeks after he lost the 2020 presidential election to Joe Biden, to the point where he refused to hear from even his closest advisers that there was no evidence of widespread voter fraud, according to his former U.S. attorney general, William Barr.

“There was never an indication of interest in what the actual facts were,” Barr said in new video testimony aired during Monday’s hearing of the Jan. 6 committee.

“My opinion then and my opinion now is that the election was not stolen by fraud,” he said. “And I haven’t seen anything since the election that changes my mind on that.”

Barr’s deposition to the committee was a central piece of Monday’s hearing, which was focused on proving that Trump and his advisers knew he had lost the election to Biden, but that, despite that, Trump “engaged in a massive effort to spread false and fraudulent information to convince huge portions of the U.S. population that fraud had stolen the election from him.”

TVNL Comment:  How do you say 'paranoid pschizophrenic'?

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Trump had to know he was spreading 'Big Lie,' Jan. 6 committee member Jamie Raskin says

Jaimie RaskinLawmakers investigating the Jan. 6, 2021, insurrection said Sunday they can provide evidence that Donald Trump tried to overthrow his election loss to Joe Biden even though he knew he had lost – a key legal point if he is prosecuted over actions that led directly to the violence at the U.S. Capitol.

Future hearings, including one on Monday, will demonstrate how a succession of advisers also told Trump that his claims of voter fraud in the 2020 election were bogus, Jan. 6 committee members said during a string of Sunday show appearances.

"I think any reasonable person in America will tell you, he had to have known he was spreading a 'Big Lie,'" said Rep, Jamie Raskin, D-Md., a member of the Jan. 6 select committee, speaking on CNN's "State of the Union."

Raskin added: "He continues to spread it to this very day."

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Johnny Depp wins libel lawsuit against ex-wife Amber Heard

Johnny Depp winns libel suit againstA jury on Wednesday ruled in favor of Johnny Depp in his libel lawsuit against ex-wife Amber Heard, vindicating his stance that Heard fabricated claims that she was abused by Depp before and during their brief marriage.

The jury also found in favor of Heard, who said she was defamed by Depp’s lawyer when he called her abuse allegations a hoax.

Jury members found Depp should be awarded $10.35 million in damages, while Heard should receive $2 million.

The verdicts bring an end to a televised trial that Depp had hoped would help restore his reputation, though it turned into a spectacle of a vicious marriage. Fans — overwhelmingly on Depp’s side — lined up overnight to grab a seat in the courtroom. Spectators who couldn’t get in lined up on the street to cheer Depp and jeer Heard whenever either appeared outside.

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10 People Reportedly Injured Following Frightening Stampede At Brooklyn Arena

10 hurt at Barclay Center stampede

A number of fans leaving a Brooklyn, New York, boxing match found themselves exiting in a terrifying stampede on Saturday.

Ten people suffered injuries after a “sound disturbance” — a sound fans originally described as gunfire on social media — caused a stampede at the Barclays Center, a New York Police Department detective told ESPN.

There were reportedly no serious injuries, the detective said in an interview with ESPN, though the panic caused people exiting the arena to run back inside.

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Pictures and videos from the scene show fans running around and damage inside the arena after the fight on Saturday.

Alexandria Ocasio-Cortez gets engaged to longtime partner Riley Roberts

AOC engagedCongresswoman Alexandria Ocasio-Cortez took a break between visiting Amazon union workers and endorsing progressive candidates to get engaged to her longtime partner Riley Roberts.

Ocasio-Cortez, 32, confirmed to Insider on Thursday that she and Roberts, who met while both were at Boston University, got engaged last month while visiting her parents’ home town in Puerto Rico.

She then wrote on Twitter: “It’s true! Thank you all for the well wishes.”

According to Insider, the pair were quiet about their relationship even before Ocasio-Cortez became a popular political voice, and their friends at university did not always know they were together.

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White House’s Paxlovid push hits hurdles

Paxlovid

The Biden administration has gone all in on the COVID-19 antiviral Paxlovid, announcing new measures to make the oral treatment more widely available and making it clear that Vice President Harris used it as she recovered from the coronavirus.

The White House has said it will nearly double the amount of Paxlovid available around the country and that it is working to set up more Test-to-Treat locations in pharmacies and other locations.

But the administration faces a number of obstacles in really making Paxlovid, and a similar treatment from Merck and Ridgeback known as molnupiravir, easily accessible to Americans.

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Day 66 of Putin's war. Ukraine destroys enemy command post near Izyum, Russians fire on two evacuation buses near Popasna

Ukraine war in 6th day
  • 1915: Ukrainian forces regained control over four settlements in Kharkiv Oblast on April 30 – Verkhnya Rohanka, Ruska Lozova, Slobidsky and Prelesny – Ukraine’s General Staff reported
1837: As a result of a missile attack in the Odesa region, the runway of the Odesa airport has been damaged, the Ukrainian military’s Operational Command South reported. The airport runway has been put out of action, the military said.

1756: Ukraine and Russia held another exchange of prisoners on April 30, with 14 Ukrainians returning home - seven soldiers and seven civilians. The prisoner exchange was announced by Deputy Prime Minister and Minister for Reintegration of the Temporarily Occupied Territories Iryna Vereshchuk.

1704: Almost all the buildings on the territory of the Azovstal plant, which is regularly attacked by the invading Russian forces and which has become a refuge for the residents of besieged Mariupol, have been destroyed. A new satellite images from the private U.S. company Maxar Technologies shows the level of devastation at the plant, writes CNN.

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Fox's Maria Bartiromo Fed The WH Trump's Questions Before Interview, Texts Reportedly Show

Mare Bartiromo

Fox NewsMaria Bartiromo shared with then-White House chief of staff Mark Meadows the questions she planned to ask Donald Trump ahead of her on-air interview with the president on Nov. 29, 2020, CNN reported on Friday.

Trump sycophant Bartiromo, in text messages obtained by the network, told Meadows she would request Trump, in his first post-election interview, to explain why the vote had been rigged against him. (For the record, it wasn’t.)

Around an hour before her talk with Trump, she messaged Meadows:

“Hi the public wants to know he will fight this. They want to hear a path to victory. & he’s in control. 1Q You’ve said MANY TIMES THIS ELECTION IS RIGGED… And the facts are on your side. Let’s start there. What are the facts? Characterize what took place here.”

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