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Federal Reserve on cusp of what some thought impossible: Defeating inflation without steep recession

Published Tue, 24 Dec 2024 01:39:22 GMT

WASHINGTON (AP) — It was the most painful inflation Americans had experienced since 1981, when “The Dukes of Hazzard” and “The Jeffersons” were topping the TV charts. Yet the Federal Reserve now seems on the verge of defeating it — and without the surge in unemployment and the deep recession that many economists had predicted would accompany it.Inflation has been falling more or less steadily since peaking in June of last year at 9.1%. And when the Fed’s preferred inflation gauge for November is reported next week, it’s likely to show that in the past six months, annual inflation actually dipped just below the Fed’s target of 2%, economists at UBS estimate.The cost of goods — such as used cars, furniture and appliances — has fallen for six straight months. Compared with a year ago, goods prices are unchanged, held down by improved global supply chains.Housing and rental costs, a major driver of inflation, are growing more slowly. Wage growth has cooled, too, though...

Riverside man dressed as clown arrested for armed robberies

Published Tue, 24 Dec 2024 01:39:22 GMT

A suspect dressed as a clown was arrested in connection with a string of robberies targeting convenience stores in Riverside.The suspect was identified as Jesse James Swanson, 23, by the Riverside Police Department. On Aug. 26 at around 4 a.m., Swanson robbed a Circle K store on the 1600 block of Main Street.He was wearing a clown mask and armed with a handgun during the incident, police said.A week later on Sept. 2, Swanson entered the same Circle K store and robbed the employees at gunpoint, authorities said.Jesse James Swanson, 23, in photos from the Riverside Police Department. Suspected getaway driver, Daniel William Clark, 56, in a photo from the Riverside Police Department. Jesse James Swanson, 23, in photos from the Riverside Police Department. Five days later, he targeted a 7-Eleven store on the 1100 block of West La Cadena Drive, according to police. It's unclear how much money the suspect escaped with or the type of merchandise he may have taken.  SoCal street vend...

Lackluster Sharks shut out again, but a new player is on the way

Published Tue, 24 Dec 2024 01:39:22 GMT

The San Jose Sharks are going to have to rediscover their offensive touch if they want to finish their two-game road trip on a positive note Sunday.The Sharks could not get anything past Arizona goalie Connor Ingram — or the NHL’s video review judges — in a 1-0 loss to the Coyotes on Friday at Mullett Arena in Tempe.The Sharks (9-18-3) scored a combined 26 goals on their six-game road trip that ended on Dec. 10. But they had all 21 of their shots on net Friday stopped by Ingram, plus saw two other would-be goals called back by the NHL’s Situation Room, in their fifth shutout loss of the year.San Jose, which plays the Colorado Avalanche on Sunday in Denver, is now 3-12-1 away from home this season.“It’s one of those nights where you don’t have all your energy,” Sharks coach David Quinn said. “You can just feel there wasn’t a lot of energy in the locker room before the game.”At the 7:40 mark of the third period, it appe...

Martinez residents upset after another flaring incident at refinery

Published Tue, 24 Dec 2024 01:39:22 GMT

(KRON) – The Martinez Refinery Company announced Friday that flaring is occurring at the refinery. According to the company, the flaring “may be visible and audible offsite due to an operational incident.” A strong odor has also been reported on top of the flaring. The company wrote, "We are aware of odor complaints and are conducting community monitoring to investigate the source." 3 Bay Area cities named among CA towns with most holiday spirit We apologize for any inconvenience to our neighbors. Flares are an essential part of a refinery’s integrated, engineered safety systems designed to safely manage excess combustible gases by burning them off efficiently and effectivelyMartinez Refinery CompanyThe company says all appropriate agencies have been notified of the flaring and working to address these issues. The Martinez Refinery and Chevron Refinery are suing the Bay Air Quality Management District after it called for a wet gas scrubber to be installed and to reduce gas em...

Former news anchor turned senatorial candidate tours border in California

Published Tue, 24 Dec 2024 01:39:22 GMT

SAN DIEGO (Border Report) -- About a month ago, Christina Pascucci quit her job as a news anchor and reporter in Los Angeles and launched her U.S. Senate campaign.Pascucci, a Democrat who has never been in politics, is vying for Sen. Dianne Feinstein's former post and is running against Katie Porter and Adam Schiff, both representatives from California who are already serving in Congress.Other candidates include Congresswoman Barbara Lee and former baseball player Steve Garvey."I am a long shot for sure, my opponents have the whole Democratic establishment behind them with national name recognition, but polls show they still don’t have high poll numbers which means people are not excited about the options they see,” said Pascucci. "I had a great job, I was able to see a lot of the problems in our state and our country and I felt that I can do better.”Pascucci spent Friday morning touring the border between San Diego and Tijuana, including an area where migrants have been congregatin...

Cameron Brink’s 23 points, 15 rebounds lead No. 9 Stanford past Portland 81-51

Published Tue, 24 Dec 2024 01:39:22 GMT

STANFORD, Calif. (AP) — Tara VanDerveer challenged Cameron Brink to stay on the court and out of foul trouble — and Stanford needed every bit of what the star senior delivered on both ends.Brink had 23 points, 15 rebounds and four blocked shots, and the ninth-ranked Cardinal pulled away in the third quarter to bounce back from their lone defeat this season with an 81-51 win against Portland on Friday night.Brink shot 6 for 9, converted 11 of 13 free throws and also dished out four assists, while Brooke Demetre added 10 points and a pair of assists off the bench as Stanford (9-1) returned to the court for its first game after a two-week break for final exams. The Cardinal lost 96-78 at Gonzaga on Dec. 3 then were challenged for a half by another West Coast Conference opponent.“I finished well but Brooke had some really stellar passes to me, threading the needle. No one else can find me like she does,” Brink said. “It was good to play against a defense like that, it’s unorthodox, it’s...

Brunson scores career-high 50, hits all nine of his 3-point shots as Knicks top Suns 139-122

Published Tue, 24 Dec 2024 01:39:22 GMT

PHOENIX (AP) — Jalen Brunson scored a career-high 50 points while hitting all nine of his 3-point attempts, Julius Randle added 23 and the New York Knicks beat the Phoenix Suns 139-122 on Friday night.It was a brilliant shooting display from Brunson, who made 17 of 23 shots and was perfect from long range. His final 3 got him to 50 points for the night. He also had five steals.Brunson is the first Knicks player in franchise history to score 50 points while making nine threes.Phoenix — which lost star guard Bradley Beal to an ankle injury in the first quarter — has lost six of its last eight. New York has won two of its past three.The Suns led by 10 midway through the third quarter but settled for a 99-97 lead heading to the fourth. Brunson kept the Knicks close with 19 points in the quarter on 7-for-7 shooting, including five 3-pointers.The Knicks used a 13-4 run early in the fourth to push ahead and never lost the lead, pulling away in the final minutes.Kevin Durant scored 29 point...

Donovan Clingan scores 21 as No. 5 UConn takes down No. 10 Gonzaga 76-63

Published Tue, 24 Dec 2024 01:39:22 GMT

SEATTLE (AP) — Donovan Clingan scored 21 points, Cam Spencer had 15 and No. 5 UConn ran away in the second half again, beating No. 10 Gonzaga 76-63 on Friday night.The final nonconference game of the regular season for the defending national champs was another example of why the Huskies could repeat, thumping the Bulldogs in a similar fashion to last season’s Elite Eight.Clingan controlled the middle. Spencer hit some key 3-pointers during UConn’s big first half, and the Huskies built an 18-point lead in the second half and withstood every run by the Zags.Clingan hit 8 of 11 shots and grabbed eight rebounds. Alex Karaban added 11 points for UConn (10-1), and Tristen Newton and Hassan Diarra both finished with nine.Anton Watson led Gonzaga (8-3) with 20 points. Ryan Nembhard added 15, but the rest of Gonzaga’s supporting cast struggled. Leading scorer Graham Ike finished with five points after averaging 14.2 points through the first 10 games. Key bench contributor Braden Huff, averag...

Cameron Brink stars as No. 9 Stanford knocks off Portland 81-51

Published Tue, 24 Dec 2024 01:39:22 GMT

STANFORD, Calif. (AP) — Cameron Brink had 23 points, 15 rebounds and four blocked shots, and No. 9 Stanford bounced back from its lone defeat this season with an 81-51 win against Portland on Friday night.Brink made 11 of 13 free throws and also dished out four assists. Brooke Demetre added 10 points as Stanford (9-1) returned to the court for its first game after a two-week break for final exams. The Cardinal lost 96-78 at Gonzaga on Dec. 3.Hall of Fame coach Tara VanDerveer notched her 1,195th career victory to move within eight of passing Mike Krzyzewski’s 1,202 to become the winningest coach in the men’s or women’s college games.Emme Shearer scored 12 points for Portland (6-6).NO. 12 OHIO STATE 73, GRAND VALLEY STATE 49COLUMBUS, Ohio (AP) — Jacy Sheldon scored 15 points, Taylor Thierry added 11 and No. 12 Ohio State coasted to the win over Division II Grand Valley State.Sheldon and Thierry were the only starters to play 20 minutes, both checking in at 21, and 13 Buckeyes saw act...

Today in History: December 16, World War II’s Battle of the Bulge begins

Published Tue, 24 Dec 2024 01:39:22 GMT

Today in HistoryToday is Saturday, Dec. 16, the 350th day of 2023. There are 15 days left in the year.Today’s Highlight in History:On Dec. 16, 1944, the World War II Battle of the Bulge began as German forces launched a surprise attack against Allied forces through the Ardennes Forest in Belgium and Luxembourg. (The Allies were eventually able to turn the Germans back.)On this date:In 1653, Oliver Cromwell became lord protector of England, Scotland and Ireland.In 1773, the Boston Tea Party took place as American colonists boarded a British ship and dumped more than 300 chests of tea into Boston Harbor to protest tea taxes.In 1907, 16 U.S. Navy battleships, which came to be known as the “Great White Fleet,” set sail on a 14-month round-the-world voyage to demonstrate American sea power. In 1950, President Harry S. Truman proclaimed a national state of emergency in order to fight “world conquest by Communist imperialism.”In 1960, 134 people were killed when a United Air Lines DC-8 and...