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Wednesday, July 26, 2023
Fed raises interest rates, leaves door open to another hike July 26, 2023 at 08:07AM
The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest US central bank policy rate in 16 years.The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.
US President Biden's son Hunter's plea deal over tax charges falls apart July 26, 2023 at 06:04AM
A deal US President Joe Biden's son Hunter Biden had with prosecutors to plead guilty to failing to pay income taxes fell apart on Wednesday, news outlets reported. The agreement fell apart when the judge expressed concerns about a provision in the deal that allowed Biden to not be prosecuted for a gun-related charge in a separate case, a Bloomberg reporter posted on X, formerly known as Twitter.
US President Biden's son Hunter set to plead guilty to tax charges July 26, 2023 at 12:12AM
US President Joe Biden's son Hunter Biden is set to plead guilty on Wednesday to two misdemeanor charges of willfully failing to pay income taxes, part of a deal that allows him to avert conviction on a gun-related charge. The younger Biden did not pay taxes on more than $1.5 million in income in 2017 and 2018 despite owing more than $100,000, prosecutors allege.
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