(LOS ANGELES) — While Los Angeles County is reporting three locally acquired cases of dengue this year — which is rare for the region — there have been at least 3,085 cases nationally of locally acquired virus so far this year, according to data from the Centers for Disease Control and Prevention.
There has been about double the number of locally acquired dengue cases so far this year nationally compared to last year, according to the CDC. Puerto Rico currently makes up the bulk of those cases – with over 2,960 reported. The U.S. territory declared a public health emergency back in March.
“The City of Baldwin Park is aware of the recent cases of locally acquired dengue in our community. While the risk of transmission remains low, we must take this situation seriously and act proactively,” said Mayor Emmanuel J. Estrada.
Dengue viruses spread through mosquito bites. The most common symptom is a fever with aches and pains, nausea, vomiting and rash. Symptoms usually begin within two weeks after being bitten by an infected mosquito and last 2-7 days. Most people recover after about a week.
Locally acquired cases mean that the people infected have no history of traveling to an area where dengue normally spreads. Local dengue transmission is typically common in tropical and subtropical areas of the world – including Florida, and U.S. territories in the Caribbean.
Last year, there were only two locally acquired cases reported in the state of California, the first local cases in the state reported in over a decade, according to CDC data.
The CDC issued a health alert in June warning health care providers of an increased risk of dengue virus infection this year. Globally, new cases of dengue have been the highest on record, according to the CDC. The agency also noted that cases are likely to increase as global temperatures increase.
The best way to prevent dengue is to avoid mosquito bites, according to the CDC.
Ambulances rush wounded people to a hospital in the southern Lebanese city of Sidon on September 17, 2024. (MAHMOUD ZAYYAT/AFP via Getty Images)
(LONDON) — At least 20 more people were killed and 450 injured in Lebanon on Wednesday after a series of new explosions of wireless devices rocked the South, the Bekaa and the southern suburbs of Beirut, according to the Ministry of Health and the Lebanese Red Cross.
More than 30 ambulances are providing treatment and evacuations to wounded people in Lebanon on Wednesday, the Lebanese Red Cross said.
The Lebanese Army command has asked citizens not to gather in places witnessing security incidents to allow medical teams to arrive.
Members of the Lebanese Civil Defense are working to extinguish fires that broke out inside homes, cars and shops in the Bekaa, the South, Mount Lebanon and the southern suburbs due to the explosions, officials said.
All walkie-talkie devices were taken from security services members at the Rafiq Harir International Airport in Beirut after news of the devices exploding.
Pagers explode across Lebanon on Tuesday
At least 12 civilians were killed and at least 2,800 people injured in the explosions that took place Tuesday, according to Lebanese authorities. Around 460 of the injuries were critical and required surgery, Lebanese Health Minister Firass Abiad said. Most victims are suffering from eye and facial injuries, while others suffered injuries to hands and fingers, he said.
Israel was behind the deadly explosion of pagers across Lebanon on Tuesday, sources told ABC News on Wednesday.
The Hezbollah militant group said it is conducting a “security and scientific investigation” into the explosion of pagers across Lebanon on Tuesday.
Hezbollah said 11 of its members were killed on Tuesday, though — as is typical in its statements — did not specify how they died.
“We hold the Israeli enemy fully responsible for this criminal aggression, which also targeted civilians and led to the deaths of a number of martyrs and the injury of a large number with various wounds,” Hezbollah said of the pager explosions in a Tuesday statement.
In a Wednesday morning statement, Hezbollah said it would continue operations to “support Gaza,” and vowed a “reckoning” for Israel for the “massacre on Tuesday.”
The dead and injured included people who are not members of Hezbollah. Lebanese officials said that an 8-year-old girl and an 11-year-old boy are among the dead.
Israel has not commented on explosions
Israel has not commented on its alleged involvement in the apparent attack, which prompted chaos in the capital Beirut and elsewhere in Hezbollah’s south Lebanon heartland.
Around 100 hospitals received wounded people, the Lebanese Ministry of Public Health said, with hospitals in Beirut and its southern suburb quickly filling to capacity. Patients were then directed to other hospitals outside the region.
The Iranian ambassador to Lebanon, Mojtaba Amani, was among those who had one of the pagers and was injured in an explosion Tuesday, according to Iranian state TV. The diplomat said in a phone call that he was “feeling well and fully conscious,” according to Iranian state TV.
“I am proud and honored that my blood has become one with the blood of the honorable Lebanese people, as a result of the horrific terrorist crime that targeted our brotherly Lebanon yesterday. This noble country has stood with dignity and pride since the first day of al-Aqsa Storm,” Amani said Wednesday.
At least 14 people were also injured in targeted attacks on Hezbollah members in Syria, according to the Syrian Ministry of Foreign Affairs.
Fears grow of Israel-Hezbollah escalation
The alleged Israeli operation has again piqued fears of escalation in the Israel-Hezbollah conflict ongoing since Oct. 8, when members of the Iranian-backed group began cross-border attacks in support of Hamas’ war with Israel in the Gaza Strip.
Frontier skirmishes, Israeli strikes and Hezbollah rocket and artillery salvoes have been near-constant through 11 months of war in Gaza. Israeli officials have repeatedly threatened to launch a new military operation against Hezbollah along the Israel-Lebanon border. Tens of thousands of Israelis have left their homes in border regions due to the fighting.
The Israel Defense Forces said warplanes hit Hezbollah targets in six locations in southern Lebanon overnight into Wednesday. Artillery strikes were also conducted, it added.
Hezbollah leader Hassan Nasrallah is due to make a public address on Thursday afternoon to address the situation. In February, Nasrallah urged members to stop using their cellphones, describing the technology as “a deadly agent.”
Schools across Lebanon will be closed on Wednesday, Lebanese state media reported, citing the country’s Minister of Education. Schools and offices closed include public and private schools, high schools, technical institutes, the Lebanese University and private higher education institutions, Lebanese state media reported.
The Lebanese Council of Ministers collectively condemned “this criminal Israeli aggression, which constitutes a serious violation of Lebanese sovereignty and a crime by all standards.”
It added that “the government immediately began making all necessary contacts with the countries concerned and the United Nations to place it before its responsibilities regarding this continuing crime.”
World reacts to pager attacks
The United Nations special coordinator for Lebanon condemned the attack on Lebanon, calling it an “extremely concerning escalation in what is an already unacceptably volatile context,” in a statement released by the U.N. Office of the Spokesperson for the Secretary General.
Secretary of State Antony Blinken said during a press conference in Egypt on Wednesday that the U.S. “did not know about and was not involved” in Israel’s pager attacks in Lebanon and Syria — but said that officials were still gathering information and did not directly blame Israel.
“Broadly speaking, we’ve been very clear, and we remain very clear about the importance of all parties avoiding any steps that could further escalate the conflict that we’re trying to resolve in Gaza,” Blinken said. Its spread to other fronts, he added, is “clearly not in the interest of anyone involved.”
A cease-fire deal in Gaza, Blinken added, would “materially improve the prospects of defusing the situation” on the Israeli-Lebanese border and allow thousands of people living near the area on both sides of the divide to return home.
The U.S. and the European Union have both designated the Hezbollah militant group a foreign terrorist organization.
ABC News’ Luis Martinez, Shannon K. Kingston, Ghazi Balkiz, Morgan Winsor, Anne Flaherty, Nasser Atta, Joe Simonetti, Jordana Miller and Helena Skinner contributed to this report.
(LOS ANGELES) — Firefighters are nearing victory in the battles against three major wildfires near Los Angeles that have burned more than 117,000 acres, destroyed nearly 200 structures and injured 23 people, officials said.
More than 8,000 firefighters combating the Bridge, Line and Airport fires, all burning within 70 miles of each other, have significantly increased containment lines around the blazes while taking advantage of cooler weather in Southern California over the past week, officials said.
The biggest fire, the Bridge Fire, had charred 54,795 acres as of Wednesday after igniting Sept. 8 in the Angeles National Forest, 31 miles east of downtown Los Angeles, according to the California Department of Forestry and Fire Protection (Cal Fire). The blaze was 37% contained on Wednesday, Cal Fire said.
“Conditions were calm last night as firefighters continued their diligent work in strengthening containment lines and validating their progress,” Cal Fire said in an updated statement on the Bridge Fire Wednesday, adding that firefighting helicopters were not needed overnight.
The Bridge Fire in Los Angeles and San Bernardino counties has destroyed 75 structures, including at least 33 homes in Wrightwood and Mt. Baldy, and injured four people, officials said.
The cause of the blaze remains under investigation.
The Line Fire
Firefighters upped containment on the Line Fire in San Bernardino County to 50% on Wednesday, keeping it to “minimal fire growth overnight,” according to Cal Fire. Like the other active blazes in the Los Angeles area, the Line Fire has been fueled by extremely dry vegetation, officials said.
Since it was ignited by a suspected arsonist on Sept. 5, the Line Fire has burned 39,181 acres, according to Cal Fiire. The blaze has damaged four structures, destroyed one and injured four people, including three firefighters, authorities said.
“Firefighters are strengthening control lines and mopping up hot spots,” Cal Fire said.
The fire prompted California Gov. Gavin Newsom to deploy the state National Guard to support the ongoing response.
Newsom declared a state of emergency on Sept. 11 to free up resources in an effort to bring the three fires under control.
Justin Wayne Halstenberg, a 34-year-old man from Norco, California, was identified as the suspect who started the Line Fire, the San Bernardino County Sheriff’s Department said in a statement. During a video arraignment on Tuesday, Halstenberg pleaded not guilty to 11 counts of arson, including aggravated arson and causing great bodily injury.
The Airport Fire
The Airport Fire — which broke out on Sept. 9 in an unincorporated area of Orange County and spread to Riverside County — had burned 23,519 acres as of Wednesday, according to Cal Fire. The blaze is 35% contained.
“Firefighters are prioritizing continued fire line construction and reinforcement by adding more layers of protection in problem areas,” Cal Fire said in a fire update.
The fire has been the most destructive of the three blazes, destroying 160 structures, including homes and businesses, and damaging 34 others, according to Cal Fire. At least 15 people, including two firefighters, were injured, Cal Fire said.
The Airport Fire was sparked by county public works crews working on a fire prevention project by trying to move boulders to prevent public access — mostly by motorcyclists — to an area of the canyon with a lot of dry vegetation that could ignite easily, officials told ABC Los Angeles station KABC.
According to the National Interagency Fire Center, more than 24,000 firefighters were battling 55 large active wildfires across the nation on Wednesday.
So far in 2024, 37,269 wildfires have erupted across the country, burning more than 7.3 million acres, up from 2.1 million acres at this time last year, according to the fire center.
Former film producer Harvey Weinstein appears in Manhattan Criminal Court for a pretrial hearing, following his overturned sex crimes conviction, in New York City, July 19, 2024. (KENA BETANCUR/POOL/AFP via Getty Images)
(NEW YORK) — Harvey Weinstein pleaded not guilty Wednesday to a new indictment charging him with criminal sex act in the first degree.
He was wheeled into a Manhattan courtroom wearing a black suit, white shirt and tie.
The former movie mogul is charged in the new indictment based on the allegations of a woman who said he sexually assaulted her on one occasion in 2006 at a Manhattan hotel.
He is also charged in a previous New York State Supreme Court indictment with criminal sexual act in the first degree and rape in the third degree, the Manhattan District Attorney’s Office said.
“Thanks to this survivor who bravely came forward, Harvey Weinstein now stands indicted for an additional alleged violent sexual assault,” Manhattan District Attorney Alvin Bragg said in a statement.
Weinstein, 72, missed his last court date after being rushed to the hospital for emergency heart surgery.
The Manhattan District Attorney’s Office presented to the grand jury allegations of three separate women who said Weinstein sexually assaulted them. Their allegations were not part of the initial trial of Weinstein that ended in a conviction, which was later overturned on appeal.
“We will do everything in our power to retry this case, and remain steadfast in our commitment to survivors of sexual assault,” a spokeswoman for Manhattan District Attorney Alvin Bragg said in a statement earlier this year, when the conviction was overturned.
Weinstein has denied all claims of sexual misconduct, saying his encounters were consensual.
The new indictment comes months after the New York Court of Appeals overturned his 2020 sex crimes conviction. He had been found guilty of criminal sexual assault and third-degree rape and sentenced to 23 years in prison.
In a scathing 4-3 opinion in April, the court found the trial judge “erroneously admitted testimony of uncharged, alleged prior sexual acts against persons other than the complainants of the underlying crimes.”
Pavlo Gonchar/SOPA Images/LightRocket via Getty Images
(WASHINGTON) — The International Brotherhood of Teamsters, one of the most prominent and influential unions in the country, said Wednesday it will not endorse any presidential candidate this year.
The 1.3-million-member union has historically thrown its weight around in presidential cycles and endorsed Democratic presidential candidates in recent cycles, with 1988 being the last time it supported a Republican, then-Vice President George H. W. Bush. However, hours before the union was set to announce its highly coveted endorsement on Wednesday, the Teamsters released polling of union members showing a nearly two-to-one preference for former President Donald Trump over Vice President Kamala Harris.
“The Teamsters thank all candidates for meeting with members face-to-face during our unprecedented roundtables. Unfortunately, neither major candidate was able to make serious commitments to our union to ensure the interests of working people are always put before Big Business,” Teamsters President Sean O’Brien, who took on the role in 2022, said in a statement.
“Democrats, Republicans, and Independents proudly call our union home, and we have a duty to represent and respect every one of them. We strongly encourage all our members to vote in the upcoming election, and to remain engaged in the political process,” he added. “But this year, no candidate for President has earned the endorsement of the Teamsters’ International Union.”
Blue-collar union workers have been a mainstay of Democratic support for several cycles, but Trump has made inroads with voters without a college degree, a key demographic that helped eat away at Democrats’ union advantage.
Most of the country’s largest unions, including the AFL-CIO and United Auto Workers union, endorsed President Joe Biden before he dropped out, and that support was reiterated for Harris after she took over as Democrats’ nominee. The Teamsters, however, stayed out of the fray.
The union sought to hold meetings with Biden and Trump, and it met with Harris earlier this week before making any decision.
O’Brien ruffled Democrats’ feathers when he addressed the Republican National Convention earlier this summer — a move that was fiercely criticized by some of his counterparts — and praised Trump, though he accused the former president of backing “economic terrorism” when he expressed support for firing striking workers, which is illegal under federal law.
“I want to be clear. At the end of the day, the Teamsters are not interested if you have a ‘D,’ ‘R,’ or an ‘I’ next to your name,” O’Brien said on the stage in Milwaukee. “We want to know one thing: ‘What are you doing to help American workers?’ As a negotiator, I know that no window or door should ever be permanently shut.”
The union’s decision Wednesday marks a blow for both candidates.
Trump had wooed the union, inviting O’Brien to Mar-a-Lago and culminating in O’Brien’s primetime RNC speech.
Harris, meanwhile, has sought to shore up support among non-college educated voters, particularly in the industrial Midwest, a key region in this year’s election where the Teamsters hold sway. The Biden administration has also repeatedly touted its pro-union bona fides, and Biden himself became the first sitting president in history to walk a picket line. However, unions were peeved at the role the administration played in averting a rail strike in late 2022.
After the union’s announcement, the Harris campaign said she has “stood strong with organized labor for her entire career.”
“As the Vice President told the Teamsters on Monday, when she is elected president, she will look out for the Teamsters rank-and-file no matter what – because they always have been and always will be the people she fights for,” Harris campaign spokesperson Lauren Hitt said in a statement.
Trump’s campaign said while the Teamsters didn’t endorse a candidate, “they want President Trump back in the White House.”
“These hardworking men and women are the backbone of America and President Trump will strongly stand up for them when he’s back in the White House,” Trump campaign press secretary Karoline Leavitt said in a statement.
The internal polling the Teamsters released earlier Wednesday showed that straw polls of members supported Biden over Trump by an 8-point margin, 44-36%.
In explaining its decision, the Teamsters union cited the lack of “majority support” for Harris and “no universal support among the membership” for Trump. However, it did note that Harris had pledged to sign pro-union federal legislation and that Trump would not commit to vetoing national “right to work” legislation, which would allow workers to opt in or out of unions in unionized workplaces — laws that are enacted in several states that national groups like the Teamsters say weakens collective bargaining power.
Still, the Teamsters’ National Black Caucus and several Teamsters’ local chapters got out in front of the national organization and endorsed Harris on their own in recent weeks, including Local 623 in Philadelphia, which pointed to work done during the Biden administration, Harris’ pledge to “expand union rights” and challenge “any anti-union ‘right to work’ legislation,” and the “threat posed by Donald Trump.”
ABC News’ Fritz Farrow, Oren Oppenheim, Gabriella Abdul-Hakim and Will McDuffie contributed to this report.
(CHIPPEWA FALLS, Wis.) — More than two dozen people were injured in a tractor accident at an apple orchard in Wisconsin, authorities said.
The incident was reported Wednesday morning at Bushel and a Peck Apple Orchard in Chippewa Falls.
Emergency personnel were dispatched for a “tractor accident involving two hay wagons with kids and adults,” Chippewa Fire District Deputy Chief Cory Jeffers told reporters.
The fire department activated its mass casualty protocol so that outside agencies could help respond to the incident, Jeffers said. One helicopter from the Mayo Clinic was called in, he said.
Twenty-five individuals were transported from the scene to various agencies, Jeffers said.
Details on the ages of the victims, including how many were children, were not immediately available.
Marshfield Medical Center-Eau Claire received seven patients from the incident who are being treated for minor to serious injuries, a spokesperson confirmed to ABC News.
The scene has since been cleared, Jeffers said.
All of the children who were still at the scene have been reunited with their families, he added.
ABC News left a message with the orchard seeking comment.
Chippewa Falls is located about 12 miles northeast of Eau Claire.
(WASHINGTON) — House Speaker Mike Johnson on Wednesday will forge ahead with a vote on his government funding plan despite it being expected to fail.
“We’ll see what happens with the bill,” Johnson told reporters. “The quarterback’s calling the play. We’re going to run the play. I’m very confident.”
Johnson’s measure would fund the government for six months but also includes the SAVE Act, a bill backed by GOP leadership and former President Donald Trump that would require individuals to provide proof of U.S. citizenship to vote. Democrats have said the legislation is a non-starter, noting it is already illegal for non-citizens to cast a ballot in federal elections.
Johnson was set to try to pass the funding plan last week but pulled it from the floor because he didn’t have the votes.
Some Republicans in his caucus oppose the measure because they say it would contribute to the deficit while defense hawks say they won’t vote for it because the six-month extension would effect the Department of Defense’s readiness.
Still, he’s dug in on the measure and is not talking about what the next steps should be if it fails. Congress needs to pass a funding measure before Oct. 1 to avoid a shutdown.
Trump has openly called for Republicans to let the government close if they don’t pass the SAVE Act. He wrote on his social media platform that if they “don’t get absolute assurances on Election Security, THEY SHOULD, IN NO WAY, SHAPE, OR FORM, GO FORWARD WITH A CONTINUING RESOLUTION ON THE BUDGET.”
Asked about Trump’s comments that Republicans should let funding lapse in such a scenario, Johnson responded “No, look, President Trump and I have talked a lot about this. We talked a lot about it with our colleagues who are building consensus on the plan. We all believe that election security is of preeminent importance right now.”
Senate Minority Leader Mitch McConnell, the chamber’s top Republican, said it would be “politically beyond stupid” to allow a shutdown to take place with just seven weeks until Election Day.
“I think we first have to wait and see what the House sends us. My only observation about this whole discussion is the one thing you cannot have is a government shutdown,” McConnell said. “It’d be politically beyond stupid for us to do that right before the election, because certainly we’d get the blame.”
Democrats have urged Johnson to drop his funding plan and bring a clean short-term measure to the floor to keep the government open.
House Minority Leader Hakeem Jeffries told reporters last week that the only path forward is a bipartisan agreement that does not include “extreme” measures, such as the SAVE Act.
Senate Majority Leader Chuck Schumer on Monday also urged the House to pass a clean bill.
“In order to avoid a shutdown, the worst thing our colleagues in the House can do right now is waste time on proposals that don’t have broad bipartisan support,” Schumer said.
ABC News’ Allison Pecorin, Mariam Khan and Alexandra Hutzler contributed to this report.
(NEW YORK) — Former President Donald Trump’s efforts to appeal to New York, a blue state, continue with a large-scale rally in Long Island on Wednesday — Trump’s second rally in the state on top of the multiple campaign stops he did in between his court appearances for his New York civil fraud trial.
Trump is set to speak Wednesday evening at the Nassau Coliseum — a venue that holds 16,000 spectators, but the campaign alleges 60,000 tickets were requested, which would make it one of Trump’s largest rallies this campaign cycle.
Outside the Coliseum ahead of Trump’s event, vendors lined up selling various Trump merchandise. The celebration, which included music blaring through speakers, featured golden cars with Trump’s face on the front and bedazzled Trump jackets.
The line for attendees stretched around the building hours before doors opened.
Trump’s rally is set for the same day he was initially scheduled to be sentenced in his New York civil fraud trial. The judge in the case delayed his sentencing from Sept. 18 until Nov. 26 — after the presidential election.
Ahead of his Wednesday rally, Trump has worked to court New Yorkers by promising to reverse a tax policy he signed into law in 2017. In a post on his social media platform, Trump claimed he would “get SALT back,” suggesting the elimination of the cap on state and local tax deductions. In his 2017 tax law, Trump capped deductions at $10,000.
A majority of New York’s congressional Republican delegation have been pushing to reverse the SALT deduction cap on Capitol Hill, spearheading the ongoing debate around the issue.
However, while many local Republicans have celebrated Trump’s posture change, it also comes as he has recently rolled out a series of tax breaks, raising concerns about significant increases to the deficit.
“WHAT THE HELL DO YOU HAVE TO LOSE? VOTE FOR TRUMP! I will turn it around, get SALT back, lower your Taxes, and so much more,” the former president posted on his social media network ahead of his Wednesday rally.
In May, Trump pledged to turn New York red during a campaign rally in deep-blue South Bronx, New York, attempting to court the Hispanic and Black voters that make up a majority of the area’s population.
“We have levels of support that nobody’s seen before … Don’t assume it doesn’t matter just because you live in a blue city. You live in a blue city, but it’s going red very, very quickly,” Trump said at the time.
The Trump campaign has worked to court New Yorkers this campaign cycle, attempting to at least pull enthusiasm away from Democrats and help make down-ballot races more competitive.
This is also his first large-scale campaign rally after an apparent assassination attempt on Trump while he was golfing in West Palm Beach on Sunday. The day prior, Trump held a town hall where nearly 4,000 Michigan voters attended; the Nassau rally is expected to be four times the size.
Trump had also made multiple smaller campaign stops in New York City before and after his mandated court appearance throughout his seven-week hush money payment criminal trial earlier this year to highlight several campaign messaging at each stop.
In mid-April, he visited a small bodega in Harlem that was the scene of a fatal stabbing two years earlier to highlight what he claimed was the failure of Democratic prosecutors in New York to ensure public safety as they prosecute him. Later that month, he visited a construction site in midtown Manhattan to boast support from union workers and working class voters.
(NEW YORK) — The Federal Reserve cut its benchmark interest rate a half of a percentage point on Wednesday in a landmark decision that dials back its years-long fight against inflation and could deliver relief for borrowers saddled with high costs.
The central bank’s first rate cut since 2020 came after a recent stretch of data had established the key conditions for a rate cut: falling inflation and slowing job gains.
In theory, lower interest rates help stimulate economic activity and boost employment. The Dow Jones Industrial Average surged 200 points in the immediate aftermath of the announcement on Wednesday afternoon.
The S&P 500 and the Nasdaq also climbed following the news.
Speaking at a press conference in Washington D.C. on Wednesday, Fed Chair Jerome Powell described the rate decision as a shift in policy at the central bank.
“This recalibration of our policy stance will help maintain the strength of the economy and the labor market, and enable further progress on inflation,” Powell said.
“The U.S. economy is in good shape,” Powell added. “We want to keep it there.”
The Federal Open Market Committee, a policymaking body at the Fed, on Wednesday forecast further interest rate cuts.
By the end of 2024, interest rates will fall nearly another half of a percentage point from their current level of between 4.75% and 5%, according to FOMC projections. Interest rates will drop another percentage point over the course of 2025, the projections indicated.
Over time, rate cuts ease the burden on borrowers for everything from home mortgages to credit cards to cars, making it cheaper to get a loan or refinance one. The cuts also boost company valuations, potentially helping fuel returns for stockholders.
Earlier this year, mortgage rates reached their highest level in more than two decades; while the average rate for credit card holders topped anything on record at the Fed. Interest rates for car loans have soared to levels last seen at the onset of the 2008 financial crisis, Edmunds found.
Interest rate cuts will bring many of those payments down, delivering gains for borrowers.
However, borrowers should not expect immediate relief from the Fed’s initial rate cut, Elizabeth Renter, senior economist at NerdWallet, told ABC News in a statement prior to the decision.
“This initial rate cut will have little immediate impact,” Renter said. “I anticipate many consumers and business owners will take the beginning of this change in monetary policy as a sign of hope.”
Inflation has slowed dramatically from a peak of about 9% in 2022, though it remains slightly higher than the Fed’s target of 2%.
Meanwhile, the job market has cooled. A weaker-than-expected jobs report in each of the last two months has stoked concern among some economists.
“We will do everything we can to support a strong labor market as we make further progress toward price stability,” Powell said last month.
Prior to the decision, the chances of a rate cut were are all but certain, according to the CME FedWatch Tool, a measure of market sentiment.
Market observers, however, had been divided over whether the Fed will impose its typical cut of a quarter of a percentage point, or opt for a larger half-point cut. The tool estimated the probability of a half-point cut at 65% and the odds of a quarter-point cut at 35%.
A half-point cut risked overstimulating the economy and rekindling elevated inflation, while a quarter-point cut threatened to delay the type of economic jumpstart that may be required to avert a recession, Seema Shah, chief global strategist at Principal Asset Management, told ABC News in a statement.
“Rarely have market expectations been so torn” on the eve of a rate decision, Shah added.
The rate cut on Wednesday went into effect less than 50 days before the November election.
The decision deviated from the policy approach taken by the Fed prior to many recent presidential elections, a Reuters analysis found. Policy rates were left unchanged for six to 12 months before the 2020, 2016, 2012 and 2000 U.S. presidential elections, according to Reuters.
To be sure, the Fed says it bases its decisions on economic conditions and operates as an independent government body.
When asked about the 2024 election at a press conference in Washington, D.C., in December, Powell said, “We don’t think about politics.”
(PAWLET, Ver.) — A man, his wife and her 13-year-old son were found shot to death at their Vermont home, state police said, with authorities looking for a suspect.
Officers responded to a report of a “suspicious person” early Sunday, Vermont State Police said. The investigation led them to a home in the town of Pawlet, where they found the three victims dead, police said.
State police identified the victims on Tuesday as Brian Crossman Sr., 46, who was a Pawlet government official; his wife, Erica Crossman, 41; and her son and his stepson, Colin Taft, 13.
All three died from gunshot wounds and their deaths have been ruled as homicides by the Vermont Chief Medical Examiner’s Office, state police said. Brian Crossman was shot in the head and torso, Erica Crossman was shot in the head and her son had multiple gunshot wounds, state police said.
No one is in custody in connection with the homicides, Vermont State Police said Tuesday.
“Initial work by detectives indicates this was an isolated event with no identified threat to the community,” state police said.
No additional details are available at this time amid the ongoing investigation, police said.
Brian Crossman had joined the Pawlet Select Board this year, where he served as a liaison to buildings and development and to the town’s highway department, according to the town’s website.
Flowers were left in his honor at the Pawlet Town Hall ahead of a board meeting Tuesday night, Albany, New York, ABC affiliate WTEN reported.
Pawlet Select Board Chair Mike Beecher remembered him as a “friend and neighbor” and a “hardworking community member.”
“This tragedy that struck him and his family has also hit our community hard, and we are shaken and grieving,” Beecher said in a statement Tuesday. “Our hearts go out to everyone affected by this devastating loss. The town of Pawlet will work to get through this as we always get through hard times, by supporting each other and doing our best to carry on.”
Pawlet, a town of about 1,400 people, is located in western Vermont on the New York state line.
