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Federal Reserve cuts key rate by sizable half-point, signaling end to its inflation fight
SUMMARY: The Federal Reserve has cut its benchmark interest rate by half a point, marking its first reduction in over four years. This move aims to bolster the slowing job market, lowering the key rate to approximately 4.8% from a previous high of 5.3%. As inflation has decreased from a peak of 9.1% in mid-2022 to 2.5%, the Fed plans additional cuts in upcoming meetings. Chair Jerome Powell emphasized the importance of supporting employment and stated their commitment to stability over political influences. The decision reflects a shift from combating inflation towards fostering economic growth while addressing rising unemployment concerns.
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SUMMARY: The Southern Miss men’s basketball team secured a 68-66 win over Marshall in their Sun Belt opener, aided by a strong crowd of over 3,200 fans at Reed Green Coliseum. Despite Marshall keeping the game close, the Golden Eagles led at halftime and never trailed in the second half. Denijay Harris led with 29 points and 10 rebounds, sealing the victory with the final four points. Southern Miss capitalized on 12 turnovers from Marshall, scoring 15 points off them. Coach Jay Ladner praised his team’s defensive stops and execution, noting the win was their first over Marshall in the Sun Belt.
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SUMMARY: Mississippi police are warning about a holiday scam called “brushing,” which is becoming more prevalent as package deliveries rise in December. This scam involves recipients receiving unexpected packages accompanied by a QR code that claims to reveal the sender’s identity. Scanning this QR code can compromise personal information, leading to potential theft. Victims may receive items with little to no information about the sender, including claims related to Amazon. Officials advise against scanning any unfamiliar QR codes and recommend reporting such packages. Awareness is key to protecting personal data this holiday season, according to police.
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SUMMARY: As the government shutdown deadline approached, the Senate passed a bipartisan bill early Saturday to temporarily fund federal operations and disaster aid, excluding President-elect Donald Trump’s debt ceiling demands. The House overwhelmingly approved the bill, which funds the government through March 14 and includes disaster assistance. Trump had insisted on a debt ceiling increase, threatening a shutdown, but GOP leadership opted for a compromise with Democrats. The outcome raises questions about House Speaker Mike Johnson’s future amidst GOP dissent. President Joe Biden is expected to sign the bill, averting a shutdown that could affect millions, especially during the holiday season.
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News from the South - Arkansas News Feed6 days agoFaith-inspired ministry opens health clinic in Little Rock
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News from the South - Florida News Feed5 days ago‘Dirty Dancing,’ ‘Beverly Hills Cop,’ ‘Up in Smoke’ among movies entering the National Film Registry
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Our Mississippi Home5 days agoThe Meaning of the Redbird During the Holiday Season
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Mississippi Today4 days agoMississippi PERS Board endorses plan decreasing pension benefits for new hires
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Mississippi Today6 days agoOn this day in 1976