3 Things To Know Today

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1 Atlanta Shooting Suspect Captured; One Dead And Four Injured

A shooting at a medical center in downtown Atlanta led to a manhunt that lasted for hours and led outside the city. Police finally caught up with him and he was handcuffed without incident. Police say the suspect walked into the waiting room of the medical center and opened fire a short time after he entered, injuring four and killing 39-year-old Amy St. Pierre, an employee of the Centers for Disease Control and Prevention. Exiting the building just a couple of minutes after opening fire, police say the shooter fled on foot and stole a pickup truck that had been left running at a nearby gas station and left the downtown Atlanta area. Cobb County Police Chief Stuart VanHoozer said in a press conference that technology played a huge role in catching the suspect, with cameras recording the license plate of the stolen vehicle when it entered the Cobb County jurisdiction. The suspect, a former member of the Coast Guard, had an appointment at the medical center and was with his mother at the time. Police haven’t determined a motive for the attack, and as of last night’s press conference said the weapon used hadn’t been recovered.

2 White House Says Eight Million Jobs Could Be Lost During A Debt Ceiling Crisis

The White House published new information yesterday from the White House Council of Economic Advisers that said that failure to reach a deal on raising the debt ceiling could have catastrophic results for the economy. Listing three scenarios, the Council said that if negotiations last until the June 1st deadline set by Treasury Secretary Janet Yellen that would be a risk of 200,000 people losing their jobs and a short period of default would bring about 500,000 job losses. The bad news would be if the country defaults on its debts and Congress doesn’t resolve the problem for a quarter; the calculations by the Council say that would lead to 8.3 million people losing their jobs and a 45% drop in the stock market. Federal Reserve Chairman Jerome Powell said he doesn’t accept that any of the possible scenarios are possible. Congressional leaders are set to meet with President Biden at the White House on Tuesday to discuss the debt ceiling crisis and try to negotiate a deal.

3 Fed Raises Interest Rates Another 25 Basis Points

The Federal Reserve continued to raise interest rates yesterday, announcing a quarter-point increase that takes rates to their highest level in 16 years. Federal Reserve Chair Jerome Powell said in a press conference announcing the new hike yesterday that the Fed hasn’t decided if it’ll continue to raise rates or pause for a while to see what effect the current rate is having on inflation. The short-term rate has been raised by five percentage points since March of 2022. Powell said he thinks that the collapse of three banks in the last six weeks will most likely cause other banks to tighten credit, which he says would help slow down the economy and cool inflation. While the last announcement from the Fed had wording saying that “some additional” rate hikes might be necessary, this announcement removed that language and replaced it with wording saying it would now weigh a range of factors to decide if any further interest rate hikes will be made. Goldman Sachs is estimating that a large pullback in bank lending could reduce economic growth by 0.4 percentage points this year, which could be enough to cause a full recession.


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