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Fed will cut interest rates deeply this spring, new estimate says

Published Fri, 07 Feb 2025 12:49:03 GMT

(The Hill) -- The Federal Reserve is likely to make significant cuts to interest rates next year beginning as early as March, according to a new estimate from UBS Investment Bank.Slowing inflation could enable a 2.75 percent decrease in the interest rate over the course of the year, nearly halving the current rate of nearly 5.5 percent, UBS said.The firm predicts that the U.S. economy will fall into a recession by the second quarter of next year, enabling a rate cut. Rates will fall as low as 1.25 percent by 2025, the market experts predict.Other predictors, however, are anticipating just 0.75 percent drop starting in the summer, a much more conservative forecast. Wall Street has been split on predicting the Fed’s movements. Yellen: Negative Moody’s outlook on US is ‘a decision that I disagree with’ UBS Chief Strategist Bhanu Baweja told Bloomberg that the firm sees all the signs of a standard rate-cutting cycle on the horizon.“We don’t see the conditions for why this time is so...

WATCH LIVE: Biden addresses US climate report which offers dire outlook, with temperatures expected to cross key thresholds

Published Fri, 07 Feb 2025 12:49:03 GMT

A major federal climate report shows that the U.S. is unlikely to meet national or international climate targets and warns of dire consequences for the country.The Fifth National Climate Assessment, released Tuesday, finds that the planet is very likely to heat up by an average of between 4.5 and 7.2 degrees Fahrenheit (2.5 and 4.0 degrees Celsius) compared to pre-industrial times — outpacing goals of both the U.S. and international community.While it puts the likely warming window in that range, the report notes that scientists cannot rule out further warming and “potentially catastrophic outcomes.”“Higher values are not definitively ruled out, and feedback loops such as changes to cloud cover may lead to more warming in the future,” it said. It noted that “tipping points” such as the loss of the Greenland and West Antarctic ice sheets, loss of the Amazon rainforest and cloud disappearance risk creating further accelerations to planetary warming. Yet, ...

Men’s basketball: First true test for Gophers comes Thursday vs. Missouri

Published Fri, 07 Feb 2025 12:49:03 GMT

The Gophers men’s basketball team blew out both of its opponents in the first week of the season. That’s better than head coach Ben Johnson’s first two teams started their seasons at Minnesota.The U beat Bethune-Cookman by 20 points in the season opener on Nov. 6, then throttled Texas-San Antonio by 23 on Friday.Star forward Dawson Garica was named Big Ten player of the week on Monday, new point guard Elijah Spencer has created a faster offensive tempo, and true freshman Cam Christie showed off a smooth shooting stroke in his debut Friday. The roster is deeper and more versatile with the return of Parker Fox and Isaiah Ihnen from serious injuries.But the Gophers haven’t played anybody noteworthy.KenPom ranks Bethune-Cookman 350th among 362 Division I men’s basketball programs as of Monday. UTSA is pegged at 257th.The level of competition will change Thursday when Missouri (2-1) comes to Williams Arena for an 8 p.m. tipoff. The Tigers are rated 64th in the nation, while the Gophers (...

Schenectady County to host free community Naloxone training

Published Fri, 07 Feb 2025 12:49:03 GMT

SCHENECTADY, N.Y. (NEWS10) -- On Wednesday, Schenectady County Public Health Services is hosting a free Naloxone training at the Hon. Karen B. Johnson Central Library. The training and information session is open to all community members. Get the latest news, weather, sports and entertainment delivered right to your inbox! “Understanding how to use Naloxone, a life-saving medication that can reverse opioid overdoses, can mean the difference between life and death in the fight against opioid overdoses,” said Schenectady County Legislator Michelle Ostrelich, Chair of the Health, Housing & Human Services Committee. “We’re offering free training and Naloxone kits to help empower individuals to be equipped and capable in times of need.”The event runs from 6 to 7 p.m. Those unable to attend can take a free online training and receive a free Naloxone kit from the SCPHS upcoming completion.

ACSO to cook, deliver Thanksgiving meals Tuesday

Published Fri, 07 Feb 2025 12:49:03 GMT

ALBANY, N.Y. (NEWS10) -- The Albany County Sheriff's Office is cooking and delivering Thanksgiving meals on Tuesday, November 21. Those interested in receiving a meal are asked to call (518) 487-5440 or email [email protected]. Get the latest news, weather, sports and entertainment delivered right to your inbox! The Albany County Sheriff's Office released a statement regarding the event. “We are one week away from our annual Sheriff’s Turkey Dinner. Anyone that is in need of a meal, please contact us soon. We will be cooking and delivering on Tuesday, November 21. I am concerned that many will go without a meal after Equinox canceled their event.”

Saugerties cafe featured on Gordon Ramsay's 'Kitchen Nightmares'

Published Fri, 07 Feb 2025 12:49:03 GMT

SAUGERTIES, N.Y. (NEWS10) -- A new episode of "Kitchen Nightmares" aired on November 13 and it featured a cafe in Ulster County. Filming at Love Bites Cafe in Saugerties took place in June. Get the latest news, weather, sports and entertainment delivered right to your inbox! "Kitchen Nightmares" stars celebrity chef and restaurateur Gordon Ramsay as he visits restaurants around the country to try and help revive their business. The show first aired in the U.S. in 2007, with season 7 airing in 2014. "Kitchen Nightmares" was revived for season 8 in 2023.The sixth episode of season 8 focuses on childhood sweethearts Chris and Tess, the owners of Love Bites, as they struggle separating their personal lives from the restaurant. Ramsay helps them with the stress of the restaurant, the food and menu, renovating the cafe, the work environment, and their relationship. Starbucks in Rivers Casino sets opening date In June, Ramsay was spotted filming at Love Bites on Partition Street. At t...

Stewart's to close Albany store over public safety concerns

Published Fri, 07 Feb 2025 12:49:03 GMT

ALBANY, N.Y. (NEWS10) -- The Stewart's store at the corner of Manning Boulevard and Central Avenue is closing on Thursday, November 16. Stewart's Shops Corp. made the announcement on Tuesday, citing an increase in public safety concerns at that location. Get the latest news, weather, sports and entertainment delivered right to your inbox! "We pride ourselves on being part of the fabric of the communities we serve, and we worked closely with Albany Police and the City of Albany officials in an attempt to resolve concerns at our Manning Boulevard shop," said Gary Dake, President of Stewart's Shops. "The safety of our partners and loyal customers remains an issue at this location."According to Stewart's representatives, there has been an uptick in robberies, theft, and verbal and physical assaults at that particular store. Employees have been offered positions at other Stewart's locations.

VSP seeking more information on home burglary

Published Fri, 07 Feb 2025 12:49:03 GMT

WEST RUTLAND, Vt. (NEWS10) -- The Vermont State Police are seeking additional information in a home burglary that took place around 5:58 Monday night. The burglary took place on Pleasant Street in West Rutland. Get the latest news, weather, sports and entertainment delivered right to your inbox! Police say an investigation found the residence was broken into and property was taken. Anyone with information regarding the burglary is asked to contact Vermont State Police at (802) 773-9101 or can submit an anonymous tip online.

State Police investigate fatal crash in Greenport

Published Fri, 07 Feb 2025 12:49:03 GMT

GREENPORT, N.Y. (NEWS10) -- New York State Police are investigating a fatal crash that occurred on State Route 23 on Monday evening. First responders were dispatched for the report of two fully engulfed vehicles. Get the latest news, weather, sports and entertainment delivered right to your inbox! Fire crews from the Greenport Fire Department extricated one driver from their burning vehicle. The driver, Michelle J. Burnham, 59, of Delanson, was transported to the Albany Medical Center in critical condition. The driver of the second vehicle, David Warfield, 57, of Hudson, was pronounced deceased at the scene. Police say Warfield was traveling eastbound and passing multiple vehicles in the westbound lane. He then reportedly struck Burnham, who was traveling in the eastbound lane when he tried to avoid a westbound vehicle. Investigations into the crash are ongoing.

'Tina, the Tina Turner Musical' opening tonight at the Fabulous Fox Theatre

Published Fri, 07 Feb 2025 12:49:03 GMT

ST. LOUIS - Tina Turner was born Anna Mae Bullock. At the age of 16, she movedto the Ville neighborhood in St. Louis and attended Sumner High School.She had a turbulent 20-year relationship with Ike Turner before going out on her own in her 40s. 'Tina, The Tina Turner Musical' is getting rave reviews and is opening Tuesday night on stage at the Fabulous Fox Theatre. Unusual burglary leaves St. Peters business owners stunned FOX 2's Tim Ezell spoke with Ari Groover as well as Tina and Roz White, playing her mother, Zelma Bullock, about what they enjoyed most about their roles