Powell says U.S. economy healthy despite slower rate cuts
Federal Reserve Chair Jerome Powell signaled more rate cuts are coming but at a measured pace to support a still healthy economy. He spoke at the National Association for Business Economics conference in Nashville, tempering hopes of a steep late-year cut and noting policy will depend on incoming data.
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Powell signals slower path with neutral rate aims
Federal Reserve Chair Jerome Powell outlined further cuts this year of about a quarter point each, stressing a calibrated approach toward a neutral rate around 3 percent. He said the economy remains solid, with job growth cooling and inflation easing, and that rate reductions will gradually support growth without triggering a recession.
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Global online pill network indicted for fentanyl counterfeit drugs
Federal prosecutors unsealed an indictment charging Francisco Alberto Lopez Reyes and 17 others in a New York case alleging a network based in the United States Dominican Republic and India sold counterfeit pills laced with fentanyl and other narcotics through dozens of fake online pharmacies. Nine deaths linked to the operation have been reported between August 2023 and June 2024 across all 50 states and internationally. The scheme used basement pill mills in New York press plants to produce up to 100,000 pills every 12 hours, while marketing targeted customers via aggressive calls and texts. The case highlights cross border crime and a major public health risk posed by counterfeit opioids.
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