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Why another high inflation report may not cause Fed to hike

Published Tue, 24 Dec 2024 03:19:57 GMT

WASHINGTON (AP) — The government inflation report being released Tuesday is expected to show that price acceleration in the United States remained chronically high in February, putting the Federal Reserve in an unusually tough position. The Fed had been considered sure to raise its benchmark interest rate by at least a quarter-point when it meets next week. Many analysts even expected an aggressive half-point hike if Tuesday’s report for February pointed again to elevated inflation. But that was before last weekend’s two major bank failures and a series of emergency measures that the Fed unveiled to try to bolster confidence in the financial system.With bank share prices cratering Monday and fears of further financial instability roiling markets, most economists now expect the Fed to pause its rate hikes next week to avoid causing any further instability at a delicate moment for the banking system.At the same time, inflation continues to run far above what the Fed wants....

Silicon Valley Bank’s demise disrupts the disruptors in tech

Published Tue, 24 Dec 2024 03:19:57 GMT

Silicon Valley Bank’s collapse rattled the technology industry that had been the bank’s backbone, leaving shell-shocked entrepreneurs thankful for the government reprieve that saved their money while they mourned the loss of a place that served as a chummy club of innovation.“They were the gold standard, it almost seemed weird if you were in tech and didn’t have a Silicon Valley Bank account,” said Stefan Kalb, CEO of Seattle startup Shelf Engine, during a Monday interview as he started the process of transferring millions of dollars to other banks.The Biden administration’s move guaranteeing all Silicon Valley Bank’s deposits above the insured limit of $250,000 per account resulted in a “palpable sigh of relief” in Israel, where its booming tech sector is “connected with an umbilical cord to Silicon Valley,” said Jon Medved, founder of the Israeli venture capital crowdfunding platform OurCrowd.But the gratitude for the deposit guarantees that will allow thousands of tec...

Alleged racist remarks at Orange County elementary school prompt protests

Published Tue, 24 Dec 2024 03:19:57 GMT

Family and supporters of a 10-year-old girl who was allegedly the target of racist remarks by another student have been protesting outside an Orange County school. While they say school officials are not treating the incident seriously enough, there were others at the protest unhappy about how the girl’s mom has handled the situation.  Jasmine Harris claims her daughter, Paris, who is Black, was subjected to a racist comment earlier this month by a fellow student, a 10-year-old Latino boy, at Santiago Elementary School in Santa Ana. "The principal called me while I was at work, she told me that at lunch...Paris was just playing with her friends...and this little boy just came up to her, swinging a jump rope at her, trying to hit her, telling her, ‘Go back to work, you slave,’” Harris told KTLA.  She says that she got even more upset with school administrators when she asked what they planned to do about the situation and officials said they could not tell her what wou...

Klay Thompson, Steph Curry combine for 61 points in Warriors’ win over Suns

Published Tue, 24 Dec 2024 03:19:57 GMT

SAN FRANCISCO — Klay Thompson scored 33 points in the first half and the Warriors managed to keep the Phoenix Suns at bay Monday night in Golden State’s 123-112 win.The Warriors finally snapped out of their trend of lethargic starts with their loudest opening quarter of the season. Golden State attacked first, pulling ahead by as many as 25 points in the opening frame.Thompson was a big reason for that. He opened the flood gates early, pouring in 18 points in his first eight minutes of the game before adding another 15 in the second quarter. Then he hit a 3-pointer over his arch nemesis Devin Booker just before the break to send the Warriors into the locker room up 75-58.Thompson cooled off in the third, and the Suns, who were without Kevin Durant, did their best to battle back. The Warriors watched their 17-point lead dwindle to just three with 4:30 left in the third.Related ArticlesGolden State Warriors | Warriors give optimistic update on Gary Payton II ...

Man arrested by BART police after allegedly stealing iPad from rider, banned from BART

Published Tue, 24 Dec 2024 03:19:57 GMT

OAKLAND, Calif. (KRON) – BART police arrested a man who attempted to steal an iPad from a rider on Monday, according to BART police.Around 4:40 p.m., BART officers boarded a Richmond bound train as the suspect fled off the train after allegedly stealing a rider’s iPad, BART police said. The officers were able to catch the suspect, Gabriel Eakin. ‘Severe’ collision with injuries on CA-17 in Los Gatos Police say the 20-year-old discarded a backpack that contained an unregistered loaded firearm while he attempted to flee the station. The firearm was modified to be a fully automatic gun with a high-capacity magazine, BART police said.KRON On is streaming news live now.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }Eakin was booked into Alameda County jail and was banned from returning ...

Islamic center deals with multiple break-ins in Walnut Creek

Published Tue, 24 Dec 2024 03:19:57 GMT

WALNUT CREEK, Calif. (KRON) -- A religious facility in the East Bay is dealing with its fourth break-in in less than six months. Leaders at the Walnut Creek Islamic Center said police are investigating but have not found any suspects.Operations Manager Tarek El-Dardiri said both he and police believe the same person is behind all four break-ins. The suspect wore a mask but was still caught by the dozen security cameras throughout the facility. Security camera video catches the moment two men jump a fence surrounding the religious center around 4:15 a.m. on Saturday. The men walked around looking for doors they could kick in. ‘Severe’ collision with injuries on CA-17 in Los Gatos "It's really very annoying, we feel exposed," said El-Dardiri.The first break-in occurred on September 19, then twice in January, and again on Saturday.El-Dardiri believes the man from the January break-in was also a part of Saturday’s break-in based off of photos from both incidents. In the first break-in...

Paralyzed patient shot, killed at Oakland healthcare facility

Published Tue, 24 Dec 2024 03:19:57 GMT

OAKLAND, Calif. (KRON) -- Oakland police are looking for a suspect(s) who broke into a healthcare facility and killed a patient over the weekend.Oakland city councilmember Dan Kalb said the man was at Lake Merritt Healthcare Center on Saturday and was shot around 1 a.m. "The person who they shot and killed was already partially paralyzed. He was in a long-term care facility just trying to live and survive. My heart goes out to the family of this person who died. It's so sad,” said Klab. ‘Severe’ collision with injuries on CA-17 in Los Gatos The Oakland Police Department is still investigating the deadly shooting and looking for the shooter(s) involved. Police said when officers arrived, they found a man who was suffering from multiple gunshot wounds.Officers and medical staff tried to save him, but he died at the scene. The long-term care facility is in Kalb's district."As far as OPD can tell this person was targeted. This was not some random shooting, or a burglary or robbery gon...

'Severe' collision with injuries on CA-17 in Los Gatos

Published Tue, 24 Dec 2024 03:19:57 GMT

(KRON) -- A 'severe' traffic collision with injuries brought traffic to a standstill on Highway 17 Monday evening, according to a 511 Nixle alert. Fight between teenage boys ends in stabbing on MUNI bus At 8:49 p.m. the California Highway Patrol reported that a traffic collision had taken place on the northbound side of the freeway just south of South Santa Cruz Avenue. One lane has reopened as of 9:13 p.m. All lanes were previously blocked. Drivers in the area should expect delays. At this time, police do not know when the road will be fully reopened. This is a developing story. Please stick with KRON for updates.

AP sources: Broncos get McGlinchey, Powers, Allen, Stidham

Published Tue, 24 Dec 2024 03:19:57 GMT

The Denver Broncos strengthened their offensive line on Monday, agreeing to deals with right tackle Mike McGlinchey and left guard Ben Powers, a person familiar with the moves told The Associated Press.The Broncos later fortified their defensive line, agreeing to a deal with Zach Allen, and they also agreed to a deal with quarterback Jarrett Stidham to be Russell Wilson’s backup, according to the person, who spoke on condition of anonymity because the deals can’t be announced until Wednesday.McGlinchey is getting an $87.5 million, five-year contract with $50 million guaranteed, one person familiar with the terms told The AP. McGlinchey was the ninth overall pick in the 2018 draft. He started 69 games in five seasons for the San Francisco 49ers, helping pave the way for one of the league’s top rushing units over the past several years.Powers receives a $52 million, four-year contract with $28.5 million guaranteed, according to a person familiar with those terms. Powers started 36 gam...

Fritz, Wawrinka win; Murray, Badosa out at Indian Wells

Published Tue, 24 Dec 2024 03:19:57 GMT

INDIAN WELLS, Calif. (AP) — Defending champion Taylor Fritz routed Sebastian Baez 6-1, 6-2 in the third round of the BNP Paribas Open on Monday.The fourth-seeded Fritz served four aces and won 88% of his first-serve points against the 30th-seeded Baez from Argentina.Andy Murray’s run ended in a 7-6 (6), 6-2 loss to 21-year-old Jack Draper.“I’ve looked up to Andy since I was so young,” Draper said. “I watched him win Wimbledon for the first time in 2013 and then I’ve had the opportunity to get to know him and practice with him often since 2019. He’s a really special person, a great champion and a great human being, and it was a privilege to play against him on this court.”Murray has not won three consecutive matches at a Masters 1000 event since he won the title in Paris in 2016.Also advancing was Stan Wawrinka, who defeated No. 7 seed Holger Rune, 2-6, 7-6 (5), 7-5. American Tommy Paul beat ninth-seeded Hubert Hurkacz, 4-6, 6-2, 6-4. Rune saved a match point and rallied ...