Month: June 2026

By Jacqueline Policastro | Quincy News Correspondent

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    Washington (Quincy News) — The Federal Reserve left interest rates unchanged Wednesday in Kevin Warsh’s first policy decision as chair. The move offers the clearest signal yet of how the central bank’s new leader plans to navigate an economy still grappling with stubborn inflation and resilient growth.

The Federal Open Market Committee (FOMC) voted to keep its benchmark federal funds rate in a range of 3.5% to 3.75%, a decision widely expected by investors. But attention quickly shifted to Warsh’s first press conference and whether he would chart a different course from predecessor Jerome Powell.

“This committee will deliver price stability,” Warsh said, emphasizing the Fed’s continued focus on bringing inflation back to its long-standing 2% target.

Warsh struck a notably tougher tone on inflation than markets have grown accustomed to in recent years, openly acknowledging the Fed’s struggles.

“We’ve missed for five years, and we’re going to fix that,” he said.

He doubled down on a view he has expressed for years, saying, “Inflation is primarily determined by monetary policy. You bet it is. I’ve said for years inflation’s a choice.”

The remarks underscored a more hawkish posture, even as the Fed held rates steady.

Warsh’s debut comes as one of the Fed’s biggest external inflation risks may be easing. President Donald Trump this week announced a framework agreement with Iran aimed at reopening the Strait of Hormuz after months of disruptions that pushed oil prices sharply higher and increased inflation concerns.

That may provide Warsh an important near-term tailwind. Lower energy prices could ease headline inflation just as policymakers weigh whether rate cuts are possible later this year.

Still, Warsh made clear geopolitical instability remains on the Fed’s radar.

“I’m quite interested in what’s happening in the Middle East. That does have some effect on our day job,” he said.

Warsh also immediately moved to reshape how the Fed communicates policy, dropping forward guidance from the central bank’s post-meeting statement, a significant break from the approach under Powell.

Warsh also declined to submit an individual forecast to the Fed’s closely watched “dot plot,” which removed its prior outlook for a rate cut this year and signaled that a hike remains possible. He has previously criticized the forecasts as an ineffective communication tool.

“Absent also is so-called forward guidance,” Warsh said, calling it ill-suited to the current environment.

Instead, he stressed a more data-dependent approach. “Financial markets perform best when they react to incoming data,” he said.

The Fed’s updated projections show economic growth holding near 2.2% this year, inflation ending the year at 3.6%, and unemployment at 4.3%, a snapshot of an economy still running hotter than the central bank would like.

Warsh also announced five new internal task forces reviewing Fed communications, balance sheet policy, data collection, productivity and jobs, and the central bank’s inflation framework, an early sign he intends to leave a significant mark on the institution.

“What we’ve given markets is a new chapter for the central bank,” Warsh said.

Stocks tumbled and Treasury yields surged Wednesday after several Fed officials signaled a possible rate hike this year. The Dow fell 507 points, or 0.98%, while the S&P 500 dropped 1.21% and the Nasdaq lost 1.35%.

The Fed’s next meeting, in six weeks, will offer investors their next read on whether Warsh’s tougher rhetoric translates into action.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.

By Michelle Gallardo

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    PORTAGE, Indiana (WLS) — A couple found dead in their mobile home over the weekend has prompted local officials to warn residents about the dangers of improperly using portable generators, as thousands in the area remain without power following recent storms.

Emergency crews were called Saturday morning to Lakeshore Camp Resort, where Deborah and Salvatore Fogu were discovered inside their home. According to the coroner, the couple died from carbon monoxide poisoning linked to a portable generator they were using after last week’s severe weather.

“It was outside the home, but too close to the window. Or I should say close enough to the window that it ended up getting in,” Portage Mayor Austin Bonta said. “Our prayers are with the families and friends of those who have been lost to these issues.”

The deaths have shaken the campground community, a seasonal destination near the Indiana Dunes where many spend their summers. Friends remembered the couple, who were originally from Palos Hills, for their generosity.

“I sat up last night and cried,” Chris Marshall said. “I ran into hard times. And I couldn’t find a job. He took me on, gave me a job.”

While Portage was not as heavily impacted by the storms as other parts of northwest Indiana, including Merrillville and Hobart, significant tree damage on the city’s north side has left many residents without power. As a result, portable generators have become a common source of electricity — sometimes with dangerous consequences.

City officials said that in a separate incident, six people were hospitalized due to carbon monoxide exposure tied to generator use.

“The generator is either being put too close to the home, right by a window where the exhaust is blowing into a window, or in some cases people putting it in their garage,” Bonta said.

Dottie Rippel and her husband narrowly avoided a similar situation after recently installing a carbon monoxide detector before the storms hit. The alarm alerted them early one morning to dangerous fumes entering their home.

“We had our window open, and we had it on our back patio, not realizing that the fumes would go up that high. At 3:30 a.m. I was standing outside,” Rippel said.

The couple has since moved their generator and continues to rely on it for power, refueling it twice daily as utility crews work to restore electricity.

Northern Indiana Public Service Company officials said about 4,000 customers in the region remained without power, with approximately 200 crews working around the clock to restore service.

In the meantime, city officials are urging residents to follow key generator safety guidelines: Place generators outside only. Keep them at least 20 feet away from homes, windows and doors. Ensure exhaust is directed away from people, and install carbon monoxide alarms on every level of the home.

As utility crews work to get power restored in the area, another round of possibly severe weather is headed to the area Wednesday.

According to the Centers for Disease Control and Prevention, more than 400 Americans die from unintentional CO poisoning not linked to fires every year.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.

By Eric Henderson

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    Minnesota (WCCO) — Aimee Bock, the Minneapolis woman convicted as the ringleader of the $250 million Feeding Our Future pandemic fraud scheme, has filed an appeal of her conviction and four-decade prison sentence, according to court documents filed June 16.

Bock appealed to the U.S. Court of Appeals for the Eighth Circuit, challenging both her conviction and the sentence imposed by Judge Nancy E. Brasel on June 5.

The 500-month sentence came after a jury found Bock guilty on multiple counts, including conspiracy to commit wire fraud and conspiracy to commit federal programs bribery. Brasel also ordered Bock to repay nearly $243 million to the federal government.

Prosecutors described the case as the largest pandemic fraud scheme in the country, saying Bock diverted tens of millions in federal money intended to feed hungry children.

“Aimee Bock didn’t participate in fraud; she orchestrated it, profited on it,” Assistant U.S. Attorney Rebecca Kline said at sentencing.

Before handing down the sentence, Brasel said Bock “acted as a gatekeeper” and “had an integral role in planning the scheme.” The judge also said Bock lied on the stand during her trial.

Prosecutors had sought a 50-year sentence, citing what they described as a lack of accountability and remorse, as well as allegations that Bock leaked protected documents while in custody. Court filings say Bock used recorded jail calls to instruct her son to send case-related documents to political figures and media outlets. A judge called those actions “really disturbing” during a hearing in April.

At her sentencing, Bock addressed the court directly.

“I don’t have the words to express just how horrible I feel,” she said. “I know I’m responsible. It’s never been my goal to shift responsibility. I understand I failed to protect the program I was supposed to protect.”

Her attorney, Kenneth Udoibok, argued her conduct amounted to “a case of gross negligence” rather than intentional wrongdoing.

Court records indicate that trial transcripts spanning the extensive jury proceedings have been ordered as part of the appellate process.

Dozens of others have also been convicted in connection with the Feeding Our Future scheme.

Beret Leone and Anthony Bettin contributed to this report.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.

By Shannon Brinias

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    MINDEN, Louisiana (KTBS) — A 23-year-old Homer man is dead following an apparent suicide while in custody at Minden Police Department headquarters, but his family is questioning the circumstances surrounding his death.

Authorities say the initial investigation indicates that Demonta Reshawn Tate died by suicide early Tuesday while being held in a cell at the police department. However, Tate’s father, Roy Hibble, said he does not believe his son would have taken his own life.

According to Hibble, Tate had much to live for, including his young daughter.

“He loved the little girl, he loved her,” Hibble said.

The news of Tate’s death has left family members searching for answers. Hibble said he plans to visit the Webster Parish Sheriff’s Office, the outside agency that has been brought in to investigate the incident.

“Yeah, that’s what they say, but I don’t feel like he did that, because there ain’t no way he gonna hang hi(m)self,” Hibble said. “He don’t think about doing nothing like that.”

According to Minden Police Chief Jared McIver, Tate was taken into custody on a minor traffic violation and was being held at police headquarters because of an outstanding warrant from Claiborne Parish.

McIver said Tate was compliant and showed no signs of anxiety or distress when he was placed in a holding cell.

In the early morning hours, a person monitoring surveillance cameras reportedly noticed Tate standing upright near the cell’s cot for an extended period. A welfare check was conducted, and officers allegedly discovered that Tate had hanged himself using a blanket, according to the chief.

Hibble said he hopes investigators will review and release evidence that could help explain what happened.

“So they should be able to show video footage of all of that then,” he said.

The investigation into Tate’s death remains ongoing. Officials have not released additional details, and the Webster Parish Sheriff’s Office is expected to continue reviewing the circumstances surrounding the incident.

If you or someone you know is experiencing thoughts of suicide or self-harm, help is available by calling or texting 988, the Suicide & Crisis Lifeline, or by contacting local emergency services.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.

By Jonathan McCall

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    BOSSIER CITY, Louisiana (KTBS) — An Oklahoma police sergeant visiting northwest Louisiana is being credited with rescuing a woman trapped inside a vehicle during Monday’s severe flooding in Bossier City.

Sgt. Joe Williams of the Lexington Police Department in Oklahoma was in Bossier City with his family when heavy rain caused flash flooding across the area, leaving roads impassable and several vehicles stranded in rising water.

Williams said he and his family had just finished lunch and were returning to their hotel when they came across a vehicle partially submerged beneath the Traffic Street underpass.

“Everybody’s just turning around, and turning around and didn’t stop,” Williams said.

As the floodwaters continued to rise, Williams spotted a woman trapped inside the vehicle. He said he immediately got out of his own vehicle and entered the water, despite conditions that he described as dangerous.

“I didn’t think twice,” Williams said. “Was it crazy for me to do? Yeah. The water was up to my neck.”

Williams said he found the driver panicked as water filled the vehicle.

“I found a young female in the car, frantic, screaming,” he said. “Water was in the car halfway up her waist in her seat. I knew I had to get her up out of that car to higher ground, some shape, some form.”

Using his law enforcement training, Williams helped guide the woman to safety with assistance from a Bossier City police officer.

His wife captured the rescue on her cell phone as widespread flooding impacted the region. Some areas received several inches of rain in a short period, causing streets to flood and leaving numerous motorists stranded.

Williams said a personal philosophy of serving others guided his decision to help.

“God has given me a life to serve other people, no matter where I’m at,” he said. “You can be a beam of light in someone’s chaos to flip their day 180 degrees.”

The father of five said that outlook has also helped his family navigate challenges involving his 10-month-old son, Greyson, who is receiving treatment at Shriners Children’s Hospital in Shreveport for Möbius syndrome, a rare congenital neurological disorder.

Despite being hailed as a hero, Williams said he remains focused on the woman he rescued.

“I wish I would’ve gotten her name to check to see how she’s doing,” he said.

Williams and his family were in Louisiana for his son’s medical treatment when the rescue occurred. No injuries were reported.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.

By Brad Hamilton

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    SAN FRANCISCO (KPIX) — It’s become an all-too-familiar routine for Doug Brown. He loads his car with stacks of paperwork, drives to his childhood home, unloads it all, and sorts through what needs to be signed.

It’s a process, he says, that isn’t easy, but one he believes is worth it.

Brown is trying to recover roughly $18,000 in estate funds tied to his late father. It’s money that was never claimed and eventually turned over to the state.

Now, it’s meant for his 96-year-old mother and his older brother, a veteran with medical needs.

“I mean if you don’t read AARP, if you aren’t reading money magazines, if you really don’t care much about your finances at all, how would you know?” Brown said. “It’s kind of every man for themselves.”

Brown believes the money went unclaimed after his father passed away, and with his mother now suffering from dementia, he says she likely never remembered it existed.

That’s how it ended up in the state’s unclaimed property system, where it sat for years until Brown decided to search for it himself. Now, getting it back has proven to be a challenge.

“They need the death certificate. I’ve got that,” he said. “They want proof of the trust ID number. I have no idea how to get that other than going through the IRS somehow.”

Brown’s story is far from unique.

Across California, billions of dollars sit in unclaimed property accounts, from uncashed checks and dormant bank accounts to insurance payments and other financial assets.

Even cities like Oakland and San Francisco have unclaimed funds listed in their names.

According to the State Controller’s Office, the state safeguards unclaimed property on behalf of individuals, businesses, and public agencies. In some cases, funds can come from routine financial activity that was never reconciled or claimed.

A newer program now allows some government agencies to automatically receive certain unclaimed funds, but not all property qualifies. For many claims, the process still requires documentation and can take months to complete.

As for Brown, he says the process may be frustrating, but he doesn’t necessarily blame the state.

Instead, he hopes sharing his story encourages others to check for themselves. He still doesn’t know when or if his family will see that money.

But if it helps someone else find what’s theirs, he says, it’s worth it. For now, it’s back to paperwork and signatures.

Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.