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Financial system has to adjust to higher interest rates, Macklem says.

Published Mon, 03 Mar 2025 18:26:35 GMT

OTTAWA — Bank of Canada governor Tiff Macklem says the financial system has to adjust to higher interest rates, just like the rest of the economy. Macklem addressed the recent banking stress that was set off in the U.S. last month while speaking to reporters today from the sidelines of the International Monetary Fund meetings in Washington, D.C. The collapse of Silicon Valley Bank, followed by other financial institutions, has raised concerns about the implications of rapid interest rate hiking on financial stability.Macklem says the financial system will have to adjust to higher interest rates, noting central banks are “resolved in getting inflation back to their inflation targets.”The governor says adjusting to higher interest rates can be hard for the financial system, just as it can be difficult for Canadians and businesses.Macklem says he disagrees with the idea that price stability and financial stability are at odds with each other and says achieving both is criti...

Funeral services held for Chicago firefighter Jermaine Pelt

Published Mon, 03 Mar 2025 18:26:35 GMT

CHICAGO — Chicago firefighter Jermaine Pelt was laid to rest Friday following funeral services on the city's Far South Side.Pelt's funeral came nearly 24 hours after the department, along with family and friends, said goodbye to Lieutenant Jan Tchoryk, another firefighter who died in the line-of-duty.Words used to describe Pelt included selflessness, bravery and heroism.Pelt died April 4 while battling a fire in the city's West Pullman neighborhood. He was on a hose line inside a burning home, when he went down. His cause of death was smoke inhalation. Pelt joined the department in 2005 and had just recently walked his daughter down the aisle at her wedding.The 49-year-old also had a 6-year-old son. Funeral services held Thursday for fallen CFD Lt. Jan Tchoryk Pelt's visitation Thursday night at the Blake-Lamb Funeral Home came just hours after the funeral for Lt. Tchoryk, who collapsed and died in a high-rise fire in the city's Gold Coast.Pelt not only fought fires, but taught th...

Driver dies after falling out of Jeep, being struck by 2 vehicles on Dan Ryan Expressway

Published Mon, 03 Mar 2025 18:26:35 GMT

CHICAGO — A person died after falling out of a Jeep and being struck by two vehicles on the Dan Ryan Expressway, according to Illinois State Police.State troopers responded to southbound I-94 at 28th Street around 5 a.m. Friday for a report of a person laying on the roadway.ISP police say for unknown reasons, the driver of a Jeep Wrangler fell out of the vehicle and onto the expressway. Two vehicles then struck the person, one vehicle fled the scene. 1 dead in Northwest Indiana house fire The driverless Jeep then ran off the roadway and struck a concrete median barrier, according to ISP.The person was pronounced dead on the scene. Their identity has not yet been released.No further information has been provided at this time.

Chicago couple accused of strangling man to death after luring him out of restaurant

Published Mon, 03 Mar 2025 18:26:35 GMT

CHICAGO — A Chicago couple has been charged after allegedly luring a man out of a restaurant nearly two years ago and then strangling him to death.At around 2:30 a.m. on July 11, 2021, the Cook County Sheriff's Office was dispatched to the area of Central Avenue and 177th Street, located in unincorporated Bremen Township, on the report of an unresponsive man.The man, later identified as Agustin Guinac Chaj, 31, of Chicago, was unclothed from the waist down and pronounced dead at the scene.Following an investigation, detectives learned Chaj was at the same Chicago restaurant as Alberto Luces, 45, and Yessenia Bradford, 50, both of Chicago. Police said Chaj did not know the couple. Northwestern criticizes its own response to deadly shooting steps from campus At some point, police allege Luces and Bradford lured Chaj to their van where he was beaten and strangled to death. They then allegedly dumped his body near Central Avenue and 177th Street and returned home.The couple was arrest...

Viral dad: Male bald eagle adopts rock, then eaglet 

Published Mon, 03 Mar 2025 18:26:35 GMT

VALLEY PARK, Mo. (KTVI) – A 31-year-old bald eagle named Murphy at the World Bird Sanctuary in Missouri is going viral for his paternal instincts. Murphy began incubating a rock a few weeks ago, which is not uncommon, according to Roger Holloway, the sanctuary's executive director.“It’s not out of the complete ordinary for an eagle if they don’t have an egg and they’re going through nesting behavior to try and incubate something," Holloway said, adding that spring is when eagles usually breed and show natural reproductive behavior. But just a week or so later, the rock Murphy was protecting was replaced with a real eaglet. “This spring, it coincided with us having a lone chick," Holloway said.A couple of weeks ago, that eaglet was blown out of its nest in Cape Girardeau, Missouri. Its sibling did not survive, but the eaglet, now known as "Eaglet 23-126," was moved to the sanctuary. Murphy has been watching over the eaglet with minimal human interaction ever since. "It's just a singl...

Here's where Americans are pulling back their spending as inflation takes a toll

Published Mon, 03 Mar 2025 18:26:35 GMT

(The Hill) -- Retail sales in the U.S. fell 1 percent from February to March, according to Census Bureau data released Friday, a sharp drop signaling that the economy is slowing faster than expected.  Analysts had predicted retail sales to fall 0.4 percent. Sales figures were down despite consumer prices rising 5 percent annually in March, indicating that sales volumes are seeing even steeper declines. Inflation breakdown: Five takeaways from the March inflation slowdownSpending is up just 2.9 percent compared to last year. But adjusted for inflation, retail sales are down 2 percent annually, according to EY Parthenon senior economist Lydia Boussour.“In other words, consumers are spending more dollars but are getting less goods or dining out less than in March last year,” Boussour said in an analysis. Consumers are increasingly pulling back their spending following years of consistent price hikes and elevated borrowing costs brought on by the Federal Reserve’s interest rat...

Dozens of school districts in Indiana sent threat: 'One of your schools has a bomb inside'

Published Mon, 03 Mar 2025 18:26:35 GMT

(WXIN) – Indiana State Police said no suspicious items were found after dozens of school districts in Indiana were sent an anonymous bomb threat overnight, prompting many of those schools to call for an online-learning day or cancel classes altogether Friday.Noblesville Schools officials were the first to confirm to Nexstar's WXIN that their district had received an anonymous bomb threat via email.The list then grew to include the Lebanon Community School Corporation, Marion Community Schools and Southwestern Consolidated Schools, all three of which confirmed they were on e-learning due to the threat. According to a representative with Noblesville Schools, the bomb threat "was sent to approximately 40 school districts throughout Indiana."Speedway Schools and Center Grove Schools were among the schools to forgo virtual classes and instead close for the day. Families with children in Center Grove were told "Homeland Security is investigating this situation" in an emaile...

Prep basketball star Mikey Williams arrested on suspicion of assault with deadly weapon

Published Mon, 03 Mar 2025 18:26:35 GMT

SAN DIEGO (KSWB) — Mikey Williams, a high school basketball star with a massive social media following, was arrested Thursday in San Diego, the county sheriff's department confirmed.Jail records show 18-year-old Michael Anthony Williams, born June 26, 2004, was taken into custody in the Jamul area of San Diego around 3:30 p.m. He was arrested on suspicion of five counts of assault with a deadly weapon, SDSO Sgt. Gavin Lanning confirmed to Nexstar's KSWB.Officials said Williams had one firearm in his possession at the time of his arrest. Williams was booked into the San Diego Central Jail with a bail set at $50,000. He has since posted bond and is no longer in police custody. Mascot for Colorado Rockies tackled by fan Williams, who played basketball for San Ysidro High School, has amassed millions of followers online and had committed to play for the University of Memphis basketball team next season. In a statement, representatives from the university's athletics department said th...

Drought grips 7.75 million Texans in latest report, impacts felt statewide

Published Mon, 03 Mar 2025 18:26:35 GMT

Editor’s Note: The video above shows KXAN News Today’s top headlines for April 14, 2023.LUBBOCK, Texas -- The U.S. Drought Monitor for Texas showed very little relief Thursday despite recent rainfall, including severe storms Sunday. Nearly 80% of Texas was in drought – ranging from abnormally dry to exceptional drought in the latest report. At a statewide level, it was a slight improvement from the week before with fewer areas being in severe and moderate drought.An estimated 7.75 million Texans were living in the impacted areas. El Niño watch issued: Here’s what that means The most recent report was, however, a noticeable improvement from mid-April 2022 when more than 97% of Texas was gripped by drought. Exceptional drought, the most severe category, dropped from more than 14% of Texas to more than 4% over the course of one year.Nexstar graphic based on the U.S. Drought MonitorBurn Ban Map as of April 13, 2023 from Texas A&M Forest ServiceNear Shallowater, April 9, 2023 (Nexs...

Warm, muggy weather continues until Saturday cold front arrives

Published Mon, 03 Mar 2025 18:26:35 GMT

AUSTIN (KXAN) -- With highs in the low 80s, this Friday afternoon's temperatures are expected to be the warmest we have seen in a week and a half. Even hotter weather is expected Saturday, with near-record highs in the forecast Saturday afternoon. El Niño watch issued: Here’s what that means Mostly cloudy to partly sunny skies will persist today with a 10% chance for an isolated storm in the afternoon and evening. Another chance for an isolated storm will arrive Saturday afternoon along an approaching cold front. Best chance for rain would be east of Austin.The Storm Prediction Center has placed portions of our area from Blanco to Austin and Giddings and south, in the "marginal" risk area for a severe storm Friday night. Large hail would be the greatest threat. There will also be the same risk in our eastern counties Saturday afternoon and early evening.Storm Prediction Center OutlookAfter high temperatures in the 90s on Saturday, an afternoon cold front will drop temperatures and...