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Federal Reserve pauses interest rate hike amid inflation concerns

Published Wed, 05 Mar 2025 01:45:09 GMT

WASHINGTON (Nexstar) – The Federal Reserve decided not to raise interest rates, which comes as good news for Americans who are looking to make big purchases with loans or credit cards, however, the pause isn't permanent.This is the first pause in interest rate hikes after 10 consecutive hikes but the Fed expects more interest rate increases in 2023.“In light of how far we've come in tightening policy...today, we decided to leave our policy interest rate unchanged,” Federal Reserve Chair Jerome Powell said. "I think it allows the economy a little more time to adapt."The country had a more robust May jobs report than expected and the economy also cooled with inflation falling to four percent -- a sharp drop compared to the nine percent inflation rate the United States saw last June."This is all evidence that the president's economic plan is working to lower costs for families, invest in America,” White House Press Secretary Karine Jean Pierre said.But on Capitol Hill, Republicans like...

Search underway for missing elderly man who may need medical attention

Published Wed, 05 Mar 2025 01:45:09 GMT

CHICAGO -- The Chicago Police Department is asking for the public's help in locating a missing 64-year-old man who was last seen on Friday, June 2.Darrell Space, 64, was last seen in the 1600 block of Millard Ave in Chicago's North Lawndale neighborhood on Friday, June 2. Chicago police searching for ‘high-risk’ missing teen last seen at her home Space is described as 6-foot-4, weighing 250 pounds, with black hair and brown eyes. He was last seen wearing an orange hoodie, blue jeans, and black gym shoes.Space may also be driving a 2006 Mercedez-Benz Sedan with Illinois license plate number DB8174. He also is known to be seen around the Douglas Park area.Space may be in need of medical attention.Anyone with information regarding Darrell Space's whereabouts are asked to contact the Chicago Police Department at 312-746-8251.

Secretary of State Blinken to meet with Chinese leaders

Published Wed, 05 Mar 2025 01:45:09 GMT

WASHINGTON (NEXSTAR) — Secretary of State Antony Blinken heads to China this weekend. He is the highest-ranking Biden administration official to meet with Chinese leaders yet.A Department of State official said one of the core missions of the trip is to soothe tensions between the U.S. and China to promote better communication and reduce the risk of a global conflict.The future of Taiwan, trade battles and China's relationship with Russia all loom in the backdrop as Blinken sits down with Chinese leaders Sunday."There are a number of issues where we have concerns about actions the (People's Republic of China) has taken, and we will of course be raising those concerns directly with counterparts in the government in Beijing," Matthew Miller, Department of State spokesperson, said.The department said the high-level talks will focus on managing economic competition between the two countries and soothing global tensions."To ensure that the competition does not veer into conflict," Miller...

Tornado Watch for parts of the Hill Country this evening

Published Wed, 05 Mar 2025 01:45:09 GMT

AUSTIN (KXAN) -- Same song, different verse. Get ready for another day of intense heat and humidity across Central Texas. Scratch that -- many days of intense heat and humidity. Expert: Texas heatwave 'driven by climate change' 'Feels like' temps approaching 110° in some areas Thursday afternoonOur recent Heat Advisory has now been extended until 8 p.m. Friday for 'feels like' temps up to 114°. Dangerous heat and humidity will continue to be the top concern areawide - be sure to frequently check in on friends, family and neighbors, particularly seniors, children, etc.Heat Advisory extended until 8 p.m. FridayA few isolated to spotty storms will attempt to develop late this afternoon into the evening hours. Although they'll need to overcome quite a bit to even get going, once formed, there won't be much to hold 'em back from dropping hail and kicking out strong winds.We've upped rain and storm chances to 20% later today with the highest severe weather risk northwest of Austin this ...

Virtual summit tackles future of home energy storage & tracking

Published Wed, 05 Mar 2025 01:45:09 GMT

AUSTIN (KXAN) – Market research company Parks Associates held their first of three virtual 'Smart Energy Summit' sessions at midday Thursday. Parks Associates specializes in emerging consumer technology products and services. Thursday's session titled 'Solar Power: Transformation of Home Energy' focused on the changes and challenges within the solar power market, including battery storage technology, devices & equipment as well as the electrical system as a whole. As energy costs rise and outages become more common, consumers seek ways to track their energy consumption, reduce what they use, or generate their own. As their data shows more homes transitioning into more sustainable energy sources, their session highlighted the potential growth for future consumer demand for at-home energy tracking technology to further manage energy consumption.Parks Associates’ latest report “Solar and Storage: Opportunities in the Smart Home,” found that consumers are "concerned about high ...

CTRMA to give MoPac South expansion project update Thursday

Published Wed, 05 Mar 2025 01:45:09 GMT

AUSTIN (KXAN) — The Central Texas Regional Mobility Authority is expected to give a long-awaited update on its MoPac South expansion project Thursday before Travis County commissioners. The proposed project would add as many as two express lanes in both directions on MoPac between Cesar Chavez and Slaughter Lane, which is roughly eight miles. Latest on the Barton Skyway ramp project aimed at improving MoPac traffic. What to expect next MoPac South project map (courtesy Travis County)Right now, CTRMA is working on an environmental study prior to bringing the project back to commissioners, documents said. Documents also noted previous public comments made it clear Austinites prioritized making sure the expansion didn't create additional "elevations" over Lady Bird Lake and making sure south Austin was more connected to downtown, among other considerations. Up next, CTRMA will schedule follow-up meetings with commissioners, complete its 2045 traffic forecast update and present the ...

If June is this hot, what comes in July?

Published Wed, 05 Mar 2025 01:45:09 GMT

AUSTIN (KXAN) — We're halfway through June and temperatures have already been warmer than normal with at least two triple-digit highs (so far) and no end in sight to above-average temperatures. FIRST WARNING FORECAST With our extended forecast only featuring triple-digit highs, what could this possibly mean for July?On Thursday, the Climate Prediction Center released its preliminary July forecast; it will issue its final outlook on June 30. This latest forecast is a mix of good news and bad news. The good? July is looking wetter than normal. The bad? July, already our second hottest month of the year, is looking hotter than normal.July Temperature Forecast (CPC)July rainfall forecast (CPC)With July already being a fairly dry month, wetter than normal doesn't necessarily mean we get a lot of rain, just more than we usually do.What's normal for July in Austin?July is typically our second hottest and second driest month of the year in Austin. February is the driest and August is our ...

New mobile app aims to reduce foster parent, case worker turnover

Published Wed, 05 Mar 2025 01:45:09 GMT

Austin (KXAN) — A Central-Texas-based nonprofit has launched a mobile app aimed to reduce the volume of paperwork and documentation required for foster parents to keep up. This is in an effort to reduce the rate at which foster parents and case workers leave the system.The Miracle Foundation officially launched its FosterShare app this month. Leslie Beasley, the CEO, said research and development on the app started two years ago but was already being used by more than 100 Texas foster-care agencies.She said the app was a "one-stop-shop" of sorts for its users. It tracks and documents everything from daily behavior logs to medication log records.Beasley said the app has been piloted in Texas but 5 other states have expressed interest in using it as well.She said the overall goal was to make life easier for foster parents and reduce trauma for foster children."What we discovered is: the system is severely stressed and there’s a high volume of paperwork and documentation to maintain. T...

Austin toy store to celebrate anniversary with new location

Published Wed, 05 Mar 2025 01:45:09 GMT

AUSTIN (KXAN) — Austin’s iconic toy retailer Toy Joy will celebrate its 36th anniversary this summer with a new location in the Brentwood/Allendale neighborhood. They plan to open on Saturday, July 1.The store will take the place of the building formerly occupied by Karavel Shoes. Juice Consulting said it’s 50% larger than the previous north central location on Airport Boulevard, which was its home for five years.Toy Joy’s sister business, Yummi Joy, will be co-located at the new location with an expanded format and more offerings.The locations of Toy Joy and Yummi Joy on West Second Street will remain in the same spots where they have been for the past 10 years.

Behind All-Star candidates, Orioles beat Blue Jays, 4-2, for fifth straight AL East series win

Published Wed, 05 Mar 2025 01:45:09 GMT

Only three major league pitchers have surrendered more home runs this season than Baltimore right-hander Tyler Wells. Fortunately for the Orioles, they were facing one of them Thursday.After Danny Jansen’s second home run of the afternoon off Wells in the top of the fifth, Adley Rutschman tied the game with a solo home run off Toronto Blue Jays left-hander Yusei Kikuchi to open the frame’s bottom half. Rutschman’s third hit of the game came an inning later, the second of three straight two-out singles off reliever Yimi García that gave Baltimore a one-run lead it held onto over the final three innings.Austin Hays, who provided the first of those hits, provided insurance with a solo home run in the eighth.With the rubber-game victory, the Orioles (43-25) improved to 5-1 against the Blue Jays this season and won their fifth straight series against an American League East opponent. It’s the first time Baltimore has achieved that feat in a single season sinc...