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Tragedy Strikes at Turkish Ski Resort: 66 Dead, 51 Injured in Hotel Fire

A devastating fire engulfed the Grand Kartal Hotel at the popular Kartalkaya ski resort in northwestern Turkey early Tuesday morning, claiming at least 66 lives and injuring 51 others. The fire, which broke out around 3:30 a.m. local time in the hotel's restaurant section, spread rapidly, trapping guests on the upper floors. Guests, many of whom were families on holiday during the school semester break, faced harrowing conditions as they tried to escape the flames. Some resorted to jumping from windows in a desperate attempt to flee the blaze, while others used sheets and blankets to climb down from their rooms. The hotel's fire detection system reportedly failed to operate, adding to the chaos and confusion. Emergency services, including 30 fire trucks and 28 ambulances, were dispatched to the scene, but the fire's intensity and the hotel's chalet-style wooden exterior hampered firefighting efforts. The Turkish government has launched an investigation into the incident...
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Federal Reserve to Hold Interest Rates Steady Despite Market Anticipation

 

The Federal Reserve is expected to hold on interest rate cuts as they assess the economy and inflation . The policymakers are likely to signal that they expect to wait until they’re confident that inflation, which has tumbled from its peak, is reliably moving to their 2% target. 

The central bank’s benchmark rate influences the cost of most consumer and business loans, and companies, investors, and individuals have been eager for the central bank to ease the cost of borrowing. However, the economy remains healthy and doesn’t appear to need the stimulative benefits of a rate cut, which can spur more borrowing and spending and could even re-ignite inflation. The stock market is near a record high, and the yield on the influential 10-year Treasury note is well below its peak of nearly 5% last fall.

The Federal Reserve will likely move closer Wednesday to cutting its key interest rate after nearly two years of hikes that were intended to fight the worst inflation in decades. Yet it may not provide much of a hint about when — or how fast — it will do so. Most Fed watchers think the central bank’s first rate reduction will occur in May or June.














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