Fed expected to announce interest rate hike; Trump-Pence rivalry intensifies; consumer confidence slips again | Hot off the Wire podcast | National News | #computerhacking | #hacking


The Fed is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin. Investors worry such aggressive action against inflation by the Fed and other central banks in Europe and Asia might derail global economic growth.

China’s government has rejected as a “political lie” a report by The Wall Street Journal that Beijing tried to recruit informants in the Federal Reserve system to obtain U.S. economic data. The report, citing an investigation by a Senate panel, adds to accusations of Chinese computer hacking and other efforts to steal U.S. commercial and government information.

U.S. officials say they have little fear China would attack Nancy Pelosi’s plane if she flies to Taiwan. But the U.S. House speaker would be entering one of the world’s hottest spots, where a mishap, misstep or misunderstanding could endanger her safety. So the Pentagon is developing plans for any contingency.

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Britain’s railway network has ground to a crawl after 40,000 staff walked off the job in a dispute over jobs, pay and working conditions.

A giant Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers and won the top prize on Tuesday.

People in a southwestern Japanese city have come under attack from monkeys that are trying to snatch babies, biting and clawing at flesh, and sneaking into nursery schools. The monkeys terrorizing the community are Japanese macaque, the kind often pictured peacefully bathing in hot springs.

The intensifying rivalry between former President Donald Trump and his once fiercely loyal vice president, Mike Pence, has been put on stark display in Washington. The two gave dueling speeches Tuesday on the future of the Republican Party.

Trump, in his first return to Washington since Democrat Joe Biden ousted him from the White House, repeated the false election fraud claims that sparked the Jan. 6 Capitol insurrection. Pence, in a separate address, implored the party to move on from Trump’s defeat. Both men have been laying the groundwork for expected presidential runs in 2024.

A strong earthquake has killed at least five people, injured dozens and damaged buildings in the northern Philippines. Scientists say the 7-magnitude quake Wednesday morning was centered around Abra province in a mountainous area, where one person was killed and dozens of others injured.

A man who attacked police officers with poles during the U.S. Capitol riot has been sentenced to more than five years in prison. The sentence that U.S. District Judge Tanya Chutkan gave Mark Ponder on Tuesday matches the longest term of imprisonment so far among hundreds of Capitol riot prosecutions.

Lots of baseball action Tuesday including the battle of New York and a possible All-Star catcher who might be traded soon. Also in football, a star wide receiver is signing with a new team and a young quarterback will soon undergo a surgical procedure. 

Russia has targeted Ukraine’s Black Sea regions of Odesa and Mykolaiv with airstrikes despite a deal that was supposed to allow grain shipments from ports to resume.

U.S. consumer confidence slid again in July as concerns about higher prices for food and gas continue to weigh on Americans. The Conference Board said Tuesday that its consumer confidence index fell to 95.7 in July from 98.4 in June, largely due to consumers’ anxiety over four-decade high inflation.

Stocks are closing lower on Wall Street Tuesday after Walmart warned that inflation is negatively impacting American consumers’ spending power. Walmart shares plunged after the retail giant cut its profit outlook for the second quarter and the full year, saying rising prices on food and gas are forcing shoppers to cut back on more profitable discretionary items.

Former President Donald Trump is returning to Washington on Tuesday for the first time since leaving office. He’s delivering a speech hours after former Vice President Mike Pence, a potential 2024 rival, called on the party to stop looking backward.

Record rainfall caused widespread flash flooding across the St. Louis area early Tuesday, killing one person, displacing many others and prompting rescues from vehicles and homes. One person died when a car in St. Louis was found covered in more than 8 feet of water.

Folk legend Joni Mitchell has performed her first full-length concert in nearly two decades. The Boston Globe reports she took the stage Sunday at the Newport Folk Festival in Rhode Island.

A 102-year-old woman is being honored for her service with an all-female, all-Black military unit that got mail to U.S. troops in Europe during World War II. Romay Davis was recognized for her service during an event in her home of Montgomery, Alabama.

The Biden administration is working to increase supplies of Monkeypox vaccine, which includes production in this country.

Former U.S. women’s national team star goalkeeper Hope Solo has pleaded guilty to driving while impaired, almost four months after she was found passed out behind the wheel of a vehicle in North Carolina with her 2-year-old twins inside. She was given 30 days’ credit for time she spent at an in-patient rehabilitation facility.

Kendrick Lamar, Lil Nas X and Jack Harlow are top contenders with seven nominations at the 2022 MTV Video Music Awards. Both performers along with Drake, Bad Bunny, Ed Sheeran, Harry Styles and Lizzo will compete for artist of the year.

TBS is canceling “Full Frontal With Samantha Bee” after seven seasons, removing a rare female voice from late-night TV. The channel in a statement Monday says it has made to make some difficult but business-based decisions as part of its new programming strategy.



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