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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
May 25, 2022
Page
8
The Federal Reserve releases minutes from its latest policy meeting. Officials described the half percentage point rise as the most aggressive since 2000 and signaled further large hikes. The Fed aims to curb inflation by cooling spending and growth, making borrowing costlier for households and firms.
The Mortgage Bankers Association reports a weekly drop in home loan applications with applications declining since mid March as mortgage rates rise. The 30 year rate averaged 5.25 percent last week, up from 3 percent a year ago per Freddie Mac.
Bill Browder, author of Freezing Order, claims since Putin's rise to power the inner circle of about 1,000 people has stolen around one trillion dollars from Russia. He asserts the funds are held in global financial capitals.
Stocks on Wall Street fell amid worries that persistent inflation will squeeze corporate profits. The S&P 500 and Nasdaq declined while the Dow inched higher. Big movers included Best Buy McDonald's UnitedHealth and Nordson with mixed earnings and forecasts. Bond yields fell as markets digested the outlook.
A woman told investigators she did not report the incident initially due to probation and alcohol use. Four years later in April 2021 she recognized Gardner from a prior ride and accused him of assault. Gardner denies wrongdoing, stating the woman grabbed his hand and that GPS and dash camera issues affected events.
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