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Key Fed official sees possible ‘golden path’ toward lower inflation without a recession

Published Wed, 26 Feb 2025 20:43:54 GMT

WASHINGTON (AP) — Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested Monday that the economy appears to be on what he calls the “golden path,” another term for what economists call a “soft landing,” in which the Fed would curb inflation without causing a deep recession.“Any time we’ve had a serious cut to the inflation rate, it’s come with a major recession,” Goolsbee said in an interview with The Associated Press. “And so the golden path is a … bigger soft landing than conventional wisdom believes has ever been possible. I still think it is possible.”At the same time, he cautioned: “I haven’t moved so far as to say that that’s what my prediction is.”Goolsbee declined to comment on the likely future path for the Fed’s key short-term interest rate. Nor would he say what his thoughts were about the timing of an eventual cut in interest rates.But Goolsbee’s optimistic outlook for inflation underscores why analysts increasingly thi...

MUST-WATCH: A battle of the bands, and for love, in Toronto

Published Wed, 26 Feb 2025 20:43:54 GMT

Toronto’s taking centre stage in the MUST-WATCH this week! But will this new version of a Toronto classic win this battle, or could it go to the final season of a royal dynasty? Perhaps a return to the Hunger Games? You’ll have to keep reading to find out!The Crown (Season 6, Part 1)Where to watch: NetflixFirst up, it’s time to take a final bow with the British Royal Family!Elizabeth Debicki as Princess Diana in the Crown, courtesy of Netflix.The final season of the Crown has begun! There’s only four episodes out now, but these four cover one of the biggest moments of royal history in the 20th century. Princess Diana (played by Elizabeth Debicki from Tenet) is now pursuing a relationship with Dodi Fayed (played by Khalid Abdalla from United 93), to the chagrin of her ex-husband’s family. But as we all know, the paparazzi never stop following her until it leads to a fiery tragedy. This show also stars Imelda Staunton (from Vera Drake), Dominic West (from...

Israel reveals signs of Hamas activity at Shifa, but a promised command center remains elusive

Published Wed, 26 Feb 2025 20:43:54 GMT

JERUSALEM (AP) — Three weeks ago, the Israeli military unveiled a detailed 3D model of Gaza’s Shifa Hospital – showing a series of underground installations that it said was part of an elaborate Hamas command and control center under the territory’s largest health-care center.Days after taking control of the hospital, the military has yet to unveil this purported center. But it has released videos of weapons allegedly seized inside the hospital, a tunnel running through the complex and videos appearing to show Hamas militants dragging hostages through the hospital’s hallways. Israel says there will be much more to come.What Israel finds – or fails to find – could play a large part in its efforts to rally international support for its war against Hamas, launched on Oct. 7 in response to a bloody cross-border attack by the Islamic militant group.Here is a closer look at Israel’s raid on the Shifa Hospital.WHY DOES IT MATTER?Gaza’s hospitals have played a central role in the duel...

Canadian Chamber of Commerce forms AI council with members including Amazon, Google

Published Wed, 26 Feb 2025 20:43:54 GMT

OTTAWA — The Canadian Chamber of Commerce says it has formed a council aimed at shaping public policy around artificial intelligence.The chamber says the council will advocate for government policies to be centred on the responsible development, deployment and ethical use of AI in business. The 30-member Future of AI Council will be co-chaired by e-commerce giant Amazon and software business SAP Canada.Other members include Meta Platforms Inc., Google, BlackBerry Ltd., Cohere, Scotiabank and Microsoft.The chamber says the council will support government policies that establish AI as a positive economic driver, but also acknowledge the technology’s potential risks. Among its first tasks will be looking at Bill C-27, which the federal government plans to use to curtail some of the dangers AI could cause.This report by The Canadian Press was first published Nov. 20, 2023.Companies in this story: (TSX:BB, TSX:BNS)The Canadian Press

African cat injured, dies after escaping home in Vernon Hills: police

Published Wed, 26 Feb 2025 20:43:54 GMT

VERNON HILLS, Ill. -- An African serval cat is dead after escaping from its home in Vernon Hills Saturday, police said.According to police, police responded to a call of a cat on the loose that had chased and cornered a neighbor who had been walking her dog nearby.While trying to track the animal, officers identified it as a serval, wild cat species native to Africa. As the cat was located, the owners assisted police in capturing the cat and transporting it to their nearby home. It was concluded the cat had escaped while the owners were not home and that it was on the loose for three hours. Man found dead in garage fire on South Side ID’d In the process of transportation, the cat sustained multiple injuries and died as a result of it. No other animals or individuals were injured in the process.Chief Patrick L. Kreis said in a statement: “This is an unfortunate incident, and we extend our condolences to the animal’s owners for their loss. “The keeping of exotic pets in suburban env...

Illinois among states impacted by Listeria outbreak linked to peaches, nectarines and plums  

Published Wed, 26 Feb 2025 20:43:54 GMT

CHICAGO — The Center for Disease Control Prevention is warning Illinoisans about a Listeria outbreak across seven states that has claimed the life of one person and left 10 more hospitalized. According to the CDC, recalled fruit — peaches, nectarines and plums — distributed by HMC Farms is making people sick. HMC Farms recalled the fruits on Nov. 17. The fruit was sold in stores between May 1 and Nov. 15 in 2022 and 2023 after the FDA found the outbreak strain in a sample of their peaches.   More Coverage: WGN's Medical Watch Though the fruits are no longer available for purchase, the CDC warns the goods may still be in the homes of states affected. All recalled fruit must be thrown away, the CDC added.In addition to Illinois, other states affected by the Listeria outbreak include: Michigan, Ohio, Colorado, Kansas, Florida and California (where one death was reported). As of Monday, Nov. 20, only one Listeria-related illness was reported in Illinois. The Listeria o...

Man hit by car while crossing street in Des Plaines

Published Wed, 26 Feb 2025 20:43:54 GMT

DES PLAINES, Ill. — A man was hospitalized on Sunday after he was hit by a car while crossing a street in Des Plaines, police say.According to Des Plaines police, a 24-year-old man was crossing the street in the 800 block of Elmhurst Road when he was struck by a blue Chevrolet Cruze that was headed northbound. Fallen Chicago firefighter laid to rest Monday Police say the pedestrian was walking westbound across the northbound lanes when he allegedly crossed in front of the vehicle, causing a collision.According to police, the pedestrian suffered serious injuries in the crash. Crews from the Des Plaines Fire Department were called to the scene and transported the man to the hospital. Glendale Heights officer kills wife in apparent murder-suicide Police did not provide details on whether the driver of the Chevrolet was injured in the crash and it is unclear if the pedestrian was walking in a crosswalk.Authorities have not yet identified anyone involved in the crash.

Kids' KinderMed pain and fever medicine recalled over health risk

Published Wed, 26 Feb 2025 20:43:54 GMT

(NewsNation) — KinderFarms, LLC is voluntarily recalling two of its children's products out of an abundance of caution, citing "acetaminophen instability."All lots of its KinderMed Infants’ Pain & Fever and KinderMed Kids’ Pain & Fever, both oral suspensions, have been recalled, the company announced in a press release. The recall comes as respiratory illnesses are on the rise in most of the country, including the flu, colds and RSV, according to the latest reports from the CDC. These major retail stores will be closed on Thanksgiving Drug instability, which refers to a product no longer having the same potency, content or characteristics it once possessed at the time of manufacturing, was cited as the reason for the recall. Testing revealed of some batches revealed they were "no longer in specification," potentially posing a risk to health. As acetaminophen is the active ingredient in pain-relieving medications, and the product not being "in specification" could...

Austin doctor, pharmacy see more sinus infections, strep, RSV before Thanksgiving holiday

Published Wed, 26 Feb 2025 20:43:54 GMT

AUSTIN (KXAN) — Thanksgiving week is here, which means many people are traveling and gathering with family and friends. The height of flu season is also near, with peak activity typically between December and February, according to the Centers for Disease Control and Prevention. Rannon Ching, the president and chief pharmacy officer for Tarrytown Pharmacy, said the Austin pharmacy typically sees big increases in flu cases after Thanksgiving. Recently, the pharmacy has seen mostly sinus illnesses, some ear infections in kids and an earlier-than-usual increase in respiratory syncytial virus, or RSV, in children, Ching said."Usually RSV will peak around January or February, but now we're starting to see it peak in November and December," Ching said. "So I'm not quite sure why that's happening, but that's something to just be aware of."Dr. Ryan McCorkle, an emergency department physician at St. David's Medical Center, said he is seeing flu, RSV and strep throat as we approach the holida...

A mother's plea this holiday season after her son was killed by a drunk driver

Published Wed, 26 Feb 2025 20:43:54 GMT

AUSTIN (KXAN) -- In the midst of celebrating the holidays with your friends and family, law enforcement officials in the Austin area are asking you to do one simple thing--plan ahead to have a safe and sober drive home if you plan on drinking.KXAN Traffic Anchor Erica Brennes spoke with a mother who lost her 22-year-old son to a drunk driver and has her plea."The choice that man made devastated our lives. The choice that man made to get behind the wheel after drinking shattered our lives," says Kendra Sellers, who is preparing for the second Thanksgiving without her son."There is always another choice that it's a choice that you make to get behind the wheel and drink. And it's 100% preventable," says Sellers.It's not just that a drunk driving arrest costs a lot of money. Austin Police say it also carries a heavy emotional and mental burden."There's been people that I've pulled over coming back from celebrating, they just graduated college, and they just got their master's degree or ...