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Russian Air Defense Fire Suspected in Azerbaijan Airlines Crash

  Aviation experts have raised concerns that Russia's air defense fire may have caused the recent crash of an Azerbaijan Airlines plane, as the nation mourns the loss of 38 lives. The Embraer 190 aircraft, en route from Baku to Grozny, was diverted to Aktau, Kazakhstan, due to unspecified reasons. Tragically, it crashed while attempting to land, killing 38 of the 67 people on board and injuring all 29 survivors.  Cellphone footage shows the plane making a steep descent before crashing into the ground and exploding. Experts point to holes in the plane's tail section as evidence that it may have been hit by a Russian air defense missile, possibly while Russia was defending against a Ukrainian drone attack. Azerbaijan observed a nationwide day of mourning, with flags lowered to half-mast and a moment of silence observed across the country. Azerbaijani President Ilham Aliyev stated that the weather forced the plane to change its course, but investigations are ongoing. The Kremlin ...
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Persistent Inflation Halts Interest Rate Cuts


The U.S. Federal Reserve has resolved to maintain interest rates at a two-decade peak of approximately 5.3%, citing the need for “greater confidence” that inflation is decelerating sustainably towards its 2% target. Despite recent data suggesting inflation was on the decline, several reports have indicated that price increases and economic growth are still more robust than anticipated, challenging the Fed’s expectations.

Key Points:

  • Inflation’s Stubbornness: Recent months have not shown significant progress towards the 2% inflation goal.
  • Rate Cut Projections Shift: Previously expected rate cuts in 2024 may be delayed, with financial markets anticipating only one reduction later this year.
  • Economic Optimism: Chair Jerome Powell expects inflation to decrease over the year, despite the current economic challenges.
  • Policy Adjustments: The Fed plans to slow down the unwinding of its COVID-era bond purchases, aiming to reduce its holdings at a gentler pace.

This stance comes amidst concerns that persistent inflation could jeopardize President Joe Biden’s re-election campaign, as many Americans express dissatisfaction with the economy’s performance, particularly the pace of price increases. The Fed’s cautious approach reflects its commitment to ensuring inflation targets are met before introducing any rate cuts, which would eventually lead to lower borrowing costs for consumers and businesses.

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