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Jerome Powell

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Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…

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by Chris Spiker
News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
News
Leader Of Jersey City Drug Crew Sentenced To More Than 4 Years Without Parole Leader Of Jersey City Drug Crew Sentenced To More Than 4 Years Without Parole
Leader Of Jersey City Drug Crew Sentenced To More Than 4 Years Without Parole The leader of a crew that slung cocaine and heroin in the Greenville section of Jersey City was sentenced to more than four years in federal prison. Jerome Powell, 43, must serve just about all of the plea-bargained 51-month sentence because there's no parole in the federal prison system. He and four accused members worked in the area of Columbia Park, moving the drugs from an undisclosed stash house to a home on Bartholdi Avenue that servied buyers, according to a DEA complaint on file in U.S. District Court in Newark. Authorities built a case by recording street deals and picking off buy…

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by Jerry DeMarco