Banana Boat Hair & Scalp Sunscreen Spray SPF 30 has been recalled after a review revealed high benzene levels came from the propellant that sprays the product from its can. Exposure to benzene, a human carcinogen, can possibly lead to blood disorders and cancers such as leukemia.
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The recall impacts batches of the spray with the following information:
Lot Code 20016AF, expiration December 2022.
Lot Code 20084BF, expiration February 2023.
Lot Code 21139AF, expiration April 2024.
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The manufacturer has asked customers to stop using the spray as soon as possible and to throw it out. It is offering reimbursements for customers if their sprays are part of the recall.
GOOGLE: No sir, Google bought Pizza Hut last month.
CALLER: OK. I would like to order a pizza.
GOOGLE: Do you want your usual, sir?
CALLER: My usual? You know me?
GOOGLE: According to our caller ID data sheet, the last 12 times you called you ordered an extra-large pizza with three cheeses, sausage, pepperoni, mushrooms and meatballs on a thick crust.
CALLER: Super! That’s what I’ll have.
GOOGLE: May I suggest that this time you order a pizza with ricotta, arugula, sun-dried tomatoes and olives on a whole wheat gluten-free thin crust?
CALLER: What? I don’t want a vegetarian pizza!
GOOGLE: Your cholesterol is not good, sir.
CALLER: How the hell do you know that?
GOOGLE: Well, we cross-referenced your home phone number with your medical records. We have the result of your blood tests for the last 7 years.
CALLER: Okay, but I do not want your rotten vegetarian pizza! I already take medication for my cholesterol.
GOOGLE: Excuse me sir, but you have not taken your medication regularly. According to our database, you purchased only a box of 30 cholesterol tablets once at Lloyds Pharmacy, 4 months ago.
CALLER: I bought more from another Pharmacy.
GOOGLE: That doesn’t show on your credit card statement.
GOOGLE: But you did not withdraw enough cash according to your bank statement.
CALLER: I have other sources of cash.
GOOGLE: That doesn’t show on your latest tax returns unless you bought them using an undeclared income source, which is against the law!
GOOGLE: I’m sorry sir, we use such information only with the sole intention of helping you.
CALLER: Enough already! I’m sick to death of Google, Facebook, Twitter, WhatsApp and all the others. I’m going to an island without the internet, TV, where there is no phone service and no one to watch me or spy on me.
GOOGLE: I understand sir, but you need to renew your passport first. It expired 6 weeks ago…
Source: AP Photo/Los Angeles Times, Jay L. Clendenin, Pool
President Joe Biden held a phone call with Chinese President Xi Jinping Thursday afternoon as the communist country continues demands for House Speaker Nancy Pelosi not to visit Taiwan in August.
After the call, the Chinese Communist Party released a readout. It made clear Xi threatened the United States during the call with “fire.”
"Those who play with fire will only get burnt," the Chinese president told Biden during a phone call. "Hope the U.S. side can see this clearly."
China firmly opposes Taiwan independence and the interference of external forces, Xi said.
Meanwhile, Biden’s version of the call was much more tame.
“The call was a part of the Biden Administration’s efforts to maintain and deepen lines of communication between the United States and the PRC and responsibly manage our differences and work together where our interests align. The call follows the two leaders’ conversation on March 18th and a series of conversations between high-level U.S. and PRC officials,” the White House released in a statement. “The two presidents discussed a range of issues important to the bilateral relationship and other regional and global issues, and tasked their teams to continue following up on today’s conversation, in particular to address climate change and health security. On Taiwan, President Biden underscored that the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.”
Ultra-processed foods are filled with synthetic and industrialized food additives (including endocrine-disrupting chemicals in the packaging) and contain few (if any) natural food ingredients. Highly-processed or ultra-processed “food” items have been linked in scientific studies to numerous health concerns including weight gain, obesity, diabetes, heart disease, stroke, depression and frailty and an increased risk of early death. The general consensus among experts is that people should avoid–or greatly minimize–their consumption of ultra-processed foods and replace them with unprocessed and minimally processed foods.
Now, the results of a new study have revealed that people who eat the highest amounts of ultra-processed foods like snack food, junk food (soft drinks, chips, cookies, sausage and other processed meats, deep-fried chicken, yogurt, canned baked beans and canned tomatoes/tomato sauce/paste, ketchup, mayonnaise, packaged guacamole and hummus, packaged breads and flavored cereals, etc.) and fast food may have a higher…
Last week the migrating monarch butterfly was added to the “red list” of threatened species and categorized as “endangered” for the first time by the International Union for the Conservation of Nature. That’s two steps from extinct in the wild.
Scientists blame the monarchs’ plummeting numbers on habitat loss, climate change, and pesticide and herbicide use.
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SOLUTIONS
Here is how you can personally help the troubled monarch butterflies:
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♥ PLANT (THE RIGHT KIND!) OF MILKWEED: If everyone reading this planted one milkweed plant, it could make a huge difference in saving these beautiful (and crucial) creatures! Milkweed (Asclepias spp.) is the only plant monarch caterpillars eat, and it is where the adult butterflies lay their eggs. Without it, the species simply could not exist.
The House narrowly passed a bill to ban assault weapons on Friday, with five Democrats and two Republicans bucking their respective parties in their votes on the measure.
The legislation, dubbed the Assault Weapons Ban of 2022, passed in a 217-213 vote. One Republican did not vote.
Five Democrats opposed the bill, despite the fact that an assault weapons ban was a top priority for the party as the year inches closer to the midterm elections.
On the Republican side, leadership recommended that members of the conference vote no on the bill, according to a GOP congressional aide. That urging, however, did not stop Reps. Brian Fitzpatrick (R-Pa.) and Chris Jacobs (R-N.Y.) from supporting the legislation.
Cuellar and Golden’s votes against the measure did not come as a surprise.
Golden voted against the rule for the bill on Friday, a signal that he opposed the legislation. He has also objected to a number of firearm-related bills in the past, including a measure to nationalize red flag laws, a bipartisan gun safety bill that passed through the Senate and was signed into law and a firearm package that, among other measures, would have raised the minimum age to buy a semi-automatic weapon from 18 to 21.
Cuellar last month signaled he would not vote for the bill, saying, “I don’t believe in bans on weapons.”
“Do I believe in certain restrictions? Yes. But a ban on guns? No,” he added.
Gonzalez also voted against the rule for the assault weapons ban on Friday, a signal that he would likely object to the measure when it came to the floor for a final vote.
But even before then, the Texas Democrat expressed concerns regarding the measure.
Last month, Gonzalez said a ban on assault weapons was “definitely something that we need to be careful with.”
“I’m for responsible gun ownership, and there needs to be a balance between responsible gun ownership and just a straight-up ban,” he added.
Schrader was the third Democrat who voted against the rule on Friday, and he voiced reservations about assault weapons bans before then.
He suggested to Politico last week that the bill was on a “death wish list” for Democrats, pointing to the Republican victory in the 1994 midterm elections, after then-President Clinton signed an assault weapons ban.
“This is a bill that destroyed the Democrats in ‘94. I guess, do we really have a death wish list as Democrats?” Schrader said.
The Oregon Democrat also said he was concerned about the assault weapons ban because he felt it would undermine the bipartisan package Congress cleared and Biden signed into law last month.
“It undermines what we already did and reemphasizes to all the people in America that are not hardcore urban Democrats that our party’s out of touch,” he told the outlet.
It was not clear how Kind would vote on the assault weapons ban prior to it being brought to the floor. The congressman previously voted against two provisions in the sweeping gun package the House passed last month — one that would ban civilians from using high capacity magazines, and one that would bolster safe storage of guns in homes where minors can access the weapons.
The Hill reached out to the five Democrats for comment on their votes.
In a statement following Friday’s vote, Jacobs said that while he supports the Second Amendment and the right to self-defense, he is not in favor of “easy access to high-powered semiautomatic weapons and large capacity magazines that have time and time again resulted in mass casualty shootings.”
He referenced the mass shooting that took place in Buffalo, N.Y., in May, in which 10 Black individuals were killed at a grocery store, writing that the weapons banned in the bill “have been proven to cause an immense amount of damage quickly.”
“We have a duty to provide for the safety of all Americans. These weapons do not belong in our communities. While this bill is not perfect, I believe it will save innocent lives,” he said.
During the vote on Friday, Jacobs said House Minority Leader Kevin McCarthy (R-Calif.) approached him in the speaker’s lobby to point out how close the final tally would be. Asked by The Hill if leadership was trying to convince him to change his vote, Jacobs said “it wasn’t like, heavy, heavy duty, they were just pointing out how close it was.”
Fitzpatrick told The Hill Friday night that he ultimately decided to vote for the assault weapons ban after thinking about a family from Parkland, Fla., that experienced a loss following the 2018 shooting at Marjory Stoneman Douglas High School.
If the two Republicans had voted with their party in the final vote, they may have tied the vote 215-215, preventing Democrats from getting to the 216-vote threshold they needed to pass the bill. One Republican did not vote.
Fitzpatrick told The Hill that McCarthy and House Minority Whip Steve Scalise (R-La.) did not approach him during the vote.
“They know I do my own thing,” he said. “I’ve developed that reputation.”
Following a report that Chicago warned about fentanyl-laced drugs at Lollapalooza, Johns Hopkins School of Medicine professor Dr. Marty Makary said on Friday that there is “virtually no safe drug.”
“It’s very hard to get the dose of fentanyl correct for recreational use. So it’s very easy, given how potent it is to overdose. And fentanyl used to be in heroin, cocaine and in opioid pills that were used for drug use,” Makary told “The Faulkner Focus.”
“Now it’s in virtually all drugs. It’s in marijuana. So when people smoke marijuana thinking that it’s safe, it may be laced with fentanyl. It’s in methamphetamine.”
Makary reacted to Chicago public health officials advising Lollapalooza goers to test their drugs before partaking to make sure they are not laced with fentanyl.
“ATTN Chicago & LOLLA FANS,” a tweet from CDPH reads. “Fentanyl is a strong opioid that can easily cause overdose. Test your drugs before you use, carry Narcan, and don’t use alone. Call 911 if you suspect someone is overdosing.”
CDPH said fentanyl is found in cocaine, MDMA and other drugs – not just heroin. The department also said Narcan and fentanyl test strips can be picked up at Chicago public libraries “in easy-to-access Narcan dispenser kits.”
Narcan, also known as Naloxone, is a drug used to help to reverse symptoms of an overdose and save lives.
Fentanyl is a synthetic opioid behind a massive spike in overdose deaths across the U.S. in recent years. Just a 2 mg dose is enough to kill a user with zero tolerance, whereas 60 mg of heroin is considered a lethal dose.
Makary said parents should understand that the only to avoid fentanyl is for children to avoid drugs altogether.
“It’s at an endemic level. Even more children have died of drug use than have died of COVID in the last two years,” he said, adding there is “no safe drug now with fentanyl.”
Fox News’ Bradford Betz contributed to this report.
Joshua Q. Nelson is a reporter for FoxNews.com. You can find him on Twitter @joshuaqnelson.
Every Navy and Marine Corps F-35 jet is undergoing an inspection with “high priority” after a possible issue with their ejection seats.
A spokesperson for the F-35 Joint Program Office told Fox News Digital that the Department of the Navy leadership decided to inspect all F-35 jets that are used by the Navy and Marine Corps.
“Earlier this week, Department of the Navy (DoN) leadership decided to inspect all Navy and Marine Corps F-35s jets in compliance with the 90-day Time Compliance Technical Directive. Rather than spacing the inspections out over a full 90 days, DoN decided to compress the 90-day inspection timeline to having each aircraft inspected prior to its next flight. All inspections are being conducted in an expedited manner with a high priority,” the spokesperson said.
A report states that the jets are being inspected due to parts on their ejection seats that could be defective.
According to the report, the issue stems from ejection seats made by Martin-Baker, as some production lots of explosive cartridges used in the seats were determined defective and need to be replaced.
Adam Sabes is a writer for Fox News Digital. Story tips can be sent to Adam.Sabes@fox.com and on Twitter @asabes10.
Migrant birds suspected of carrying the avian flu are seen here washed up on the shores of Point Lance, Newfoundland, Canada, on July 25, 2022. (Reuters/Greg Locke)
The carcasses of thousands of migrant seabirds have washed up on the shores of eastern Canada this week and preliminary findings showed that the birds died of avian flu.
Since May 2022, the Canadian Food Inspection Agency has confirmed 13 positive cases of highly pathogenic avian influenza in the eastern Canadian province of Newfoundland.
Environment and Climate Change Canada is conducting more investigations to confirm that the seabirds deaths are linked to avian flu, Peter Thomas, wildlife biologist for the center said.
Dead herring gulls, Iceland gulls, common ravens, and American crows are the among the most affected by the influenza, Thomas added.
According to the Canadian Wildlife Service, the avian influenza virus is contagious and can affect domestic and wild birds throughout the world.
Canadian Wildlife Service is working closely with the provincial government of Newfoundland and Labrador, as well as the Canadian Wildlife Health Cooperative to contain the spread.
The highly pathogenic avian influenza has also been spreading rapidly in Vancouver Island, the British Columbia Society for the Prevention of Cruelty to Animals said, infecting birds like great horned owls, bald eagles, great blue herons, ducks and geese, and even crows.
Migrant gannets nesting at Cape St. Mary’s Ecological Reserve, Newfoundland, Canada July 25, 2022. (REUTERS/Greg Locke)
“Every day I receive phone calls saying 10 are dead,” Elizabeth Melnick, of Elizabeth’s Wildlife Center, BC, said.
“Wildlife centers in the country usually choose to save the dying ones as dead ones are picked up by the city,” she said.
According to the World Organisation for Animal Health, avian influenza is a respiratory pathogen that causes a high degree of mortality and becomes a serious threat to the poultry industry. It is naturally spread among wild aquatic birds worldwide and can infect domestic poultry and other bird and animal species.
According to the Canadian Food Inspection Agency, pet birds can be infected by avian influenza and spread the disease to humans, so wild birds should not be handled when they are sick or dead.
PETITION TARGET: Boris Johnson, Prime Minister of the UK
Elephants abused and exploited in the tourism industry are denied everything that is natural and important to them. They’re controlled and hit with sharp metalbullhooks and often are forced to give tourists rides and kept chained when they’re not working.
These gentle giants always suffer in captivity. That’s why the non-profit campaign group Save the Asian Elephants (STAE) is working to get a law passed in the United Kingdom to prohibit the advertising and promotion of unethical elephant-related tourist attractions.
In the wild, elephants can travel up to 50 miles a day with their families and can live well into their 70s. They are loving mothers, too— female elephants remain with their daughters from birth until they are separated by death. But in captivity, they spend much of their lives chained, typically die before they reach 40 years old, and are separated from their families.
STAE has discovered more than 1,000 UK firms that are promoting nearly 300 venues overseas that exploit and abuse elephants for entertainment and profits. Not only is this cruel, but it’s also incredibly dangerous.
In July 2022, a woman was killed in Thailand after a captive elephant charged at her during a demonstration in the park. Her family is now calling for an advertising ban, with the victim’s sister saying, “A ban on the advertising of these tourist sites would go a long way to preventing visitors from learning about these places and preventing humans from profiting from animal abuse.”
As long as cruel elephant attractions are advertised and promoted, elephants will continue to suffer for profits and more people could be killed.
Sign our petition today urging the UK Government to ban advertising tourist attractions overseas where elephants are abused and exploited!
Do not eat, sell, or serve recalled French Lentil & Leek Crumbles from Daily Harvest. FDA’s investigation is ongoing.
The FDA, along with CDC and state and local partners, is investigating consumer complaints of gastrointestinal illness and abnormal liver function that may be attributable to eating Daily Harvest French Lentil & Leek Crumbles frozen product.
On June 17, 2022, in response to consumer complaints submitted to the company, Daily Harvest voluntarily initiated a recall of their French Lentil & Leek Crumbles. In response to Consumer Adverse Event Reports (CAERS) and Consumer Complaints submitted to the FDA, the FDA has initiated an investigation, including an inspection and sample collection in an effort to determine the cause of illnesses. As of July 28, 2022, the FDA has received 329 CAERS reports and Consumer Complaints related to this product.
FDA’s investigation is ongoing, and more information will be provided as it becomes available.
Recommendation
Consumers should not eat, sell, or serve recalled products. Consumers who may still have the recalled product in their freezers should throw it away.
Product was sold through online sales and in two retail locations; the Daily Harvest store in Chicago, IL, and a “pop-up” store in Los Angeles, CA. French Lentil + Leek Crumbles is a frozen product packaged in a 12oz white pouch with the words “Daily Harvest” at the top, a large “CRUMBLES” immediately below the top and the words “French Lentil + Leek” in bold, as shown below. All lot codes of the French Lentil + Leek Crumbles are affected. At this time, no other Daily Harvest products are affected or part of this recall.
If you experience symptoms including yellowing of the skin and eyes (jaundice), dark urine, itching with no rash, gastrointestinal illness, nausea, fatigue, body aches, severe abdominal pain and/or fever after consuming this product, please consult with your healthcare provider. Let your healthcare provider know you have recently consumed the recalled Daily Harvest French Lentil & Leek Crumbles. Healthcare providers should report these illnesses to their health department.
Product Images
Case Counts
Total Adverse Illness Events: 329* Hospitalizations: 113* Deaths: 0 Last illness onset: July 16, 2022* States with Adverse Illness Events: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, MD, MA, MN, MS, MI, MO, MT, NV, NH, NJ, NY, NC, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WI Product Distribution: Nationwide *Estimate based on Consumer Complaint and CAERs reports received by the FDA
The FDA, along with CDC and state and local partners, is investigating consumer complaints of gastrointestinal illness and abnormal liver function that may be attributable to eating Daily Harvest French Lentil & Leek Crumbles frozen product.
On June 17, 2022, in response to consumer complaints submitted to the company, Daily Harvest voluntarily initiated a recall of their French Lentil & Leek Crumbles. In response to Consumer Adverse Event Reports (CAERS) and Consumer Complaints submitted to the FDA, the FDA has initiated an investigation, including an inspection and sample collection in an effort to determine the cause of illnesses. As of July 14, 2022, the FDA has received 277 CAERS reports and Consumer Complaints related to this product.
FDA’s investigation is ongoing, and more information will be provided as it becomes available.
June 30, 2022
The FDA, along with CDC and state and local partners, is investigating consumer complaints of gastrointestinal illness and abnormal liver function that may be attributable to eating Daily Harvest French Lentil & Leek Crumbles frozen product.
On June 17, 2022, in response to consumer complaints submitted to the company, Daily Harvest voluntarily initiated a recall of their French Lentil & Leek Crumbles. In response to Consumer Adverse Event Reports (CAERS) and Consumer Complaints submitted to the FDA, the FDA has initiated an investigation, including an inspection and sample collection in an effort to determine the cause of illnesses. As of June 28, the FDA has received 133 CAERS reports and Consumer Complaints related to this product.
From April 28 to June 17, 2022, approximately 28,000 units of the recalled product were distributed to consumers in the continental United States through online sales and direct delivery, as well as through retail sales at the Daily Harvest store in Chicago, IL, and a “pop-up” store in Los Angeles, CA. Samples were also provided to a small number of consumers.
Daily Harvest emailed consumers who were shipped the affected product, and other consumers for whom the company had contact information and consumers were issued a credit for the recalled product. Consumers who may still have the recalled product in their freezers should immediately dispose of it.
FDA’s investigation is ongoing, and more information will be provided as it becomes available.
Who to Contact
Consumers who have symptoms should contact their health care provider to report their symptoms and receive care.
To report a complaint or adverse event (illness or serious allergic reaction), you can
Former President Donald Trump announced his plan to sue CNN Wednesday for “repeated defamatory statements.”
“I have notified CNN of my intent to file a lawsuit over their repeated defamatory statements against me,” Trump said in a statement. “I will also be commencing actions against other media outlets who have defamed me and defrauded the public regarding the overwhelming evidence of fraud throughout the 2020 Election. I will never stop fighting for the truth and for the future of our Country!”
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Target: Nancy Pelosi, Speaker of the United States House of Representatives
Goal: Ban the use of body-gripping traps within areas protected under the National Wildlife Refuge System.
Many types of body-gripping traps are still widely available for commercial use throughout the U.S. These traps, which include conibear traps, snares, and steel-jaw leghold traps, work by crushing animals bones and holding them hostage until a trapper, hunter, or furbearer comes to retrieve them. Although body-gripping traps—such as conibear traps which are designed to snap an animal’s spinal cord—are meant to kill animals instantaneously and painlessly, they are often unreliable and typically animals die a slow, agonizing death. An animal could be stuck in one of these traps for days before being retrieved, subject to extreme hunger, dehydration, and psychological trauma, and vulnerable to predators. Some animals will even resort to chewing their own limbs off to try and escape the crushing, all-consuming pain.
These types of traps are responsible for the deaths of millions of animals each year. As they are nonselective and cannot be continuously monitored, they often catch and kill non-intended targets. This includes endangered animals, such as Bald Eagles and Mexican wolves, as well as companion animals that happen to take a misfortunate step.
Though these traps are banned in many states, they still remain largely under regulation. In 2021, a bill was introduced to the House of Representatives that, if passed, would end the use of these cruel, indiscriminate traps once and for all within areas protected under the National Wildlife Refuge System.
Animals do not deserve to suffer prolonged, torturous deaths. Sign this petition to end this archaic method of trapping.
PETITION LETTER:
Dear Representative Pelosi,
Body-gripping traps are a particularly cruel method of trapping wildlife and kill millions of innocent animals each year. These devices work by slamming shut onto helpless animals, often crushing bones or vital organs in the process. An animal can be ensnared for days without any food or water, left vulnerable to predation and infection as they die a slow and agonizing death. Some desperate animals will even chew off their trapped limbs to try and escape the devices’ powerful grip. Since these traps are indiscriminate, they don’t just catch targeted wildlife, but also endangered species and companion animals. Even so, body-gripping traps like conibear traps, snares, and steel-jaw leghold traps are still widely commercially available in the U.S. today.
Luckily, changes are underway. In 2021, a bill was introduced to the House by Congressman Jerrold Nadler to ban inhumane conibear and steel-jaw leghols traps from areas protected under the National Wildlife Refuge System. If passed, millions of innocent animals will be granted the ability to roam freely and graciously, without the possibility of having their spinal cords snapped.
We are asking you, Mrs. Pelosi, to please ban the antiquated 300-year old practice of catching animals with inhumane, bone crushing traps and to support Bill H.R. 4716.
In the state of Utah, as in much of the world during the COVID-19 pandemic, domestic violence rates are up. One non profit cited an increase of between 25-50% in domestic violence cases in the state during the pandemic. But right now, when a victim seeks a legal order of protection against an abuser, they could be putting their pets’ lives at risk. That’s why a new bill, HB 175, has been put forward that would allow those legal protections to extend to pets, the same way they extend to children.
Sign now if you want to keep at-risk pets safe from domestic abusers in Utah!
One such woman, Jessica, said it took her 2 years to leave an abusive situation with her dog, Roxie. When she finally did, her abuser tried to get Roxie back! But Jessica knew Roxie wouldn’t be safe with him. This is not an uncommon situation. That’s why the Humane Society of Utah and Ruff Haven have worked so hard on the bill that would allow orders of protection to include pets.
Research has shown that domestic abuse and animal abuse are linked. Studies show that people who abuse animal companions are more likely to act violently to their human partners. And we know that victims of domestic abuse often delay or avoid leaving a situation because their abuser may take their rage out on a pet. We need to make it easier for people and their pets to escape dangerous situations, together!
Suffering through domestic abuse is one of the worst experiences a person can have, coupled with putting your beloved animals at risk, the experience just gets more intense. Someone who abuses an intimate partner or family member would have no reason to stop at the family pet. Let’s make sure these vulnerable pets are safe!
Sign the petition to urge Utah legislators to pass this new bill and allow people who get legal orders of protection to extend those to their pets as well!
In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another three-quarters of a percentage point hike and signaled that it wasn’t done in its effort to beat back inflation despite rising risks of triggering a recession.
The Fed’s hefty increase in its benchmark rate, which forms the basis for borrowing costs on credit cards, home loans and other products, is aimed at further cooling the economy to help curb pricing pressures.
In its statement announcing the rate change, the Fed noted the slowing economy. “Recent indicators of spending and production have softened,” it said, adding that the Fed expects to make “ongoing increases” in its key interest rate as it strives to return inflation to its 2% target.
The central bank’s efforts have profound implications not just for the U.S. and global economies. As the Fed tries to steer between a rock and a hard place, it has raised the political stakes, especially for Democrats, because voters in the upcoming congressional elections are not going to like either a continued rise in prices or a downturn that would cost jobs and other unwelcome consequences.
If there are bright spots for President Biden and his party, it’s that gas prices have come off their highs in June and there’s positive news in an economic indicator that most Americans don’t usually pay much attention to: the value of the dollar against foreign currencies.
“Inflation is much too high,” Fed Chair Powell says. “Today, the FOMC raised its policy interest rate by three-quarters of a percentage point and anticipates that ongoing increases in the target range for the federal funds rate will be appropriate.” pic.twitter.com/1YRUpi2abQ
One offshoot of the Fed’s rate-hike campaign has been a surge in the dollar in recent months, which is making products from Europe, Asia and other parts of the world cheaper for American buyers.
Since the U.S. purchases trillions of dollars in imported products each year — including a wide array of things such as clothing, electronics, flowers and fresh vegetables — the stronger dollar is starting to make it a little easier for shoppers to deal with inflation for some goods.
“That’s one of the very few forces working against food price inflation,” said Ricky Volpe, an agribusiness professor at Cal Poly San Luis Obispo, noting persistent food-supply challenges involving labor, weather, transportation and energy.
The housing crisis in Southern California is getting worse. Today, Southern California has the fewest homes available per capita of any metro area in the country.
In June the cost to U.S. consumers for food produced at home was 12.2% more than a year earlier. That helped push up overall inflation to 9.1%, a four-decade high. Cereals and breads, eggs and milk, as well as poultry products have been rising even faster in recent months. By comparison, prices for imported foods including vegetables and fish have been trending down lately.
Carl Tannenbaum, chief economist at Northern Trust, said cheaper imports should provide a relatively small but notable help in lowering the rate of U.S. inflation as more companies pass on those savings to consumers.
The downside for American multinational corporations is that their exports and sales overseas will take a hit.
And the rapid and sharp gain in the dollar, Tannenbaum said, is inflicting real pain on some developing countries as they face bigger dollar payments for debt and commodities. The recent political turmoil in Sri Lanka reflected a severe economic crisis that included a shortage of dollars and a national currency that has now plunged more than 80% against the greenback.
Still, for American voters, a decline in import prices, along with companies like Walmart now starting to mark down merchandise due to excess inventory and slowing demand, could provide some relief from the decades-high inflation.
Jack Ablin, chief investment officer at Cresset Capital, said he thinks inflation may have peaked in June and July. Gas prices nationally averaged $4.30 a gallon Wednesday, down from $4.90 a month earlier.
“There’s growing evidence that consumers’ willingness and ability to spend is getting tired,” he said in a note to clients. “Moreover, households appear to have spent through their pandemic-supported cash hoard, as evidenced by a recent run-up in credit card debt and AT&T’s acknowledgement that an increasing number of their customers’ bills are past due.”
On Thursday, the government is expected to release data showing the U.S. economy declined in the second quarter, after earlier reports of shrinking activity in the first three months of the year. Republicans are likely to jump all over the news, as consecutive quarters of falling real gross domestic product, or economic output, is commonly seen as evidence of a recession.
An official determination of a recession is based on an array of data, and most economists say that while two negative quarters of GDP might constitute a “technical recession,” the U.S. doesn’t appear to be in an outright downturn at the present moment. Employment thus far has held up well and the picture of consumer spending, which accounts for two-thirds of economic activity, is still mixed.
GDP in the current third quarter, for now, looks lackluster. And what happens over the rest of the summer and beyond will depend at least in part on what the Fed does and how people react to its efforts to get inflation under control.
The Fed’s rate move Wednesday is the fourth increase this year and lifts its benchmark rate to nearly 2.5%, a level that’s considered neutral — that is, neither stimulative nor restrictive to the economy.
The question now is, how much more will the central bank do? In their June forecast, Fed officials projected their main rate to end the year at nearly 3.5%. And Fed Chair Jerome H. Powell could provide more guidance at a news conference Wednesday afternoon.
But there are a number of factors that will influence inflation and growth, which remain highly uncertain and are largely beyond the Fed’s control, including the war in Ukraine, the global economic situation and pandemic lockdowns in China.
Supply chain problems at ports and in other parts of the logistics system have eased somewhat in recent weeks, but there’s still a shortage of parts and goods, particularly for new autos.
And it will take time before the backlog of orders is cleared and companies adjust to shifting supply chains, said Shawn DuBravac, an economist and president of Avrio Institute, a consulting firm. But, he said, with demand slowing and inventories of things like apparel relatively high, many more businesses don’t have the pricing power they had at the start of the year.
In recent days, some of the biggest companies, including Microsoft, General Motors, Alphabet and Walmart, have reported lower profits. And companies in finance, housing and some other sectors have cut their outlook and are shedding jobs.
The following was a scene at the roundup of wild horses from Twin Peaks. There is a way to manage wild horses on America’s vast public lands. The cruel policy of roundups and removals is NOT that way.
How can even the most hard-hearted individual watch the footage below of these terrified and confined wild horses and approve? These totally unnecessary roundups must be brought to a grinding halt.
The BLM must be held accountable for its egregious waste of tax dollars and the unlawful brutal treatment of these federally protected animals. Who is going to do it? The federal government? Not so far.
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