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US inflation slows from a 40-year peak but remains high

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Us Inflation Slows From A 40-Year Peak But Remains High
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WASHINGTON (AP) — Falling gas prices gave Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly from the four-decade high that was reached in June.

Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1% year-over-year jump in June. On a monthly basis, prices were unchanged from June to July, the smallest such rise in more than two years.

Besides gasoline, among the consumer purchases whose prices sank from June to July were airfares, which plunged nearly 8%. Hotel room costs fell 2.7%, used car prices 0.4%. Such items had previously delivered some of the economy’s steepest price jumps.

Those declines lowered so-called core inflation, a measure that excludes the volatile food and energy categories to provide a clearer picture of underlying inflation. Core prices rose just 0.3% from June, the smallest month-to-month increase since April. And compared with a year ago, core inflation amounted to 5.9% in July, the same year-over-year increase as in June.

Wednesday’s report raised hopes that a modest slowdown in inflation might enable the Federal Reserve to raise short-term interest rates by less than had been anticipated when it meets in late September. Many economists had forecast that it would increase its benchmark rate three-quarters of a point for a third straight time. But financial markets are now predicting that a half-point increase is more likely.

The prospect of slower inflation and smaller Fed rate hikes buoyed the stock market as trading began Wednesday, with futures pointing to a solid increase in the S&P 500 index.

Still, core prices have slowed in the recent past only to re-accelerate in subsequent months. And plenty of items are continuing to grow more expensive. Food prices kept surging in July, for example, and have risen 13% from a year ago, the largest such increase since 1979. The costs of rent, medical care and furniture also rose at elevated rates.

Average paychecks are rising faster than they have in decades, but not fast enough to keep up with higher costs.

President Joe Biden has pointed to declining gas prices as a sign that his policies — including large releases of oil from the nation’s strategic reserve — are helping lessen the higher costs that have strained Americans’ finances, particularly for lower-income Americans and Black and Hispanic households.

Yet Republicans are stressing the persistence of high inflation as a top issue in the midterm congressional elections, with polls showing that elevated prices have driven Biden’s approval ratings down sharply.

On Friday, the House is poised to give final congressional approval to a revived tax-and-climate package pushed by Biden and Democratic lawmakers. Economists say the measure, which its proponents have titled the Inflation Reduction Act, will have only a minimal effect on inflation over the next several years.

While there are signs that inflation may ease in the coming months, it will likely remain far above the Federal Reserve’s 2% annual target well into next year or even into 2024. Chair Jerome Powell has said the Fed needs to see a series of declining monthly core inflation readings before it would consider pausing its rate hikes. The Fed has raised its benchmark short-term rate at its past four rate-setting meetings, including a three-quarter point hike in both June and July — the first increases that large since 1994.

A blockbuster jobs report for July that the government issued Friday — with 528,000 jobs added, rising wages and an unemployment rate that matched a half-century low of 3.5% — solidified expectations that the Fed will announce yet another three-quarter-point hike when it next meets in September. Robust hiring tends to fuel inflation because it gives Americans more collective spending power.

One positive sign, though, is that Americans’ expectations for future inflation have fallen, according to a survey by the Federal Reserve Bank of New York, likely reflecting the drop in gas prices that is highly visible to most consumers.

Inflation expectations can be self-fulfilling: If people believe inflation will stay high or worsen, they’re likely to take steps — such as demanding higher pay — that can send prices higher in a self-perpetuating cycle. Companies then often raise prices to offset higher their higher labor costs. But the New York Fed survey found that Americans’ foresee lower inflation one, three and five years from now than they did a month ago.

Supply chain snarls are also loosening, with fewer ships moored off Southern California ports and shipping costs declining. Prices for commodities like corn, wheat and copper have fallen steeply.

Yet in categories where price changes are stickier, such as rents, costs are still surging. One-third of Americans rent their homes, and higher rental costs are leaving many of them with less money to spend on other items.

Data from Bank of America, based on its customer accounts, shows that rent increases have fallen particularly hard on younger Americans. Average rent payments for so-called Generation Z renters (those born after 1996) jumped 16% in July from a year ago, while for baby boomers the increase was just 3%.

Stubborn inflation isn’t just a U.S. phenomenon. Prices have jumped in the United Kingdom, Europe and in less developed nations such as Argentina.

In the U.K., inflation soared 9.4% in June from a year earlier, a four-decade high. In the 19 countries that use the euro currency, it reached 8.9% in June compared with a year earlier, the highest since record-keeping for the euro began.

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Rapper YNW Melly And Two Other Inmates Accused Of Planning A Jail Break

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Rapper Ynw Melly And Two Other Inmates Accused Of Planning A Jail Break
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Innocent people have no business escaping jail when your capital punishment has been called off. YNW Melly whose death sentence was recently overturned has been accused of planning an escape from jail with two other inmates together with one of his attorneys.

While a verdict is yet to be declared on the alleged jailbreak, the prosecution searched the rapper’s cell and found some blades and shady items which they think are connected to the possible “prison break”.

YNW Melly, born Jamel Maurice Demon is currently serving time for two counts of premeditated first-degree murder involving his friends who are also YNW associates. Rapper YNW Shakchaser and YNW Juvy died in a shoot-out in Florida in 2018. The rapper was charged with the murders in 2019. Melly denied all charges and still fighting to be released after his capital punishment was overturned in July 2022.

However following, Melly’s violent past and some shady business he has been involved in at jail, authorities have reasons to believe he is planning an escape with the help of one of his lawyers.

Via Complex:

A Florida Sheriff’s Office is claiming that the incarcerated rapper YNW Melly teamed with one of his attorneys to plan a jailbreak.

The dramatic accusation was first laid out in a court hearing on Tuesday. Melly has been locked up in Broward County, Florida’s Main Jail facility since February, 2019. He is awaiting trial for the alleged murder of his two crew members and close friends, Christopher “YNW Juvy” Thomas, Jr. and Anthony “YNW Sakchaser” Williams.

The Broward County Sheriff’s General Counsel’s Office followed up with Complex on Thursday. Providing a detailed statement laying out their evidence for the alleged plot. In it, they use Melly’s given name, Jamell Demons. 

On April 11, 2022, Broward Sheriff’s Office received a confidential tip regarding inmates Nicholas Lewis and Jamell Demons. Both housed in the same unit at the Main Jail, planning an escape from jail by having Demons’ attorney bring in two handcuff keys to aid in the escape. Additional information provided by the source was that Lewis had a shank and drugs,” the statement reads, in parts

Jail authorities searched Lewis’ cell after the tip, which came from another inmate. They found a six-inch shank, two razor blades, two lighters, and rolling papers. Lewis was also holding Seroquel and Klonopin pills, for which he doesn’t have a prescription. Melly’s cell was searched, but nothing was found except food from the commissary and what an incident report calls “excessive jail-issued clothing.

The confidential source gave us two pieces of information. One of them [about the shank and drugs] turned out to be a hundred percent true,” explained Christian Tsoubanos, Assistant General Counsel for the Broward Sheriff’s Office, in court on Tuesday. “And when they did the search of Demons’ cell, they did not find the handcuff key. But it could have been that there was not an opportunity to bring it into the facility yet.

John M. Phillips, attorney for YNW Juvy’s mother Leondra Phillips in her civil suit against Melly, shared his thoughts about the situation.

As an attorney for a victim, we strongly feel any attempts to escape justice point to guilt,” Phillips told Complex. “This matter needs to be fully investigated, including the attorney’s involvement. Certainly, there are times when informants and even government agents are wrong or engaging in misconduct, but we’ve seen so much in this case from rooftop stripper parties across to diamond teeth dentist needs, this is yet another chapter in what needs to just be finished in court.”

The accused jailbreak is not the only trouble Melly has been in during recent months. The  Broward Sheriff’s Office has taken away the rapper’s phone privileges due to repeated violations of the jail’s rules. In particular, the office says that Melly has made over three thousand calls since his arrest to his girlfriend, Erran Barnett. All but 22 of them without the use of his official personal identification number, as required by the jail.

In addition, one of Melly’s attorneys, Raven Liberty, is accused of giving other people her phone login credentials. So that they could make “non-recorded video visitation” calls with the “Murder on My Mind” rapper.

The offenses laid out in the Sheriff’s Office statement continue through this month. On September 16, 2022, call on a recorded line, Melly is heard telling Barnett, “Hey, I’m supposed to be talking to my lawyer. Whenever they call you, be like, ‘Is this Ms. Liberty? Is this person? Just be like yup, yup, yup’.”

Melly originally faced the death penalty for the murders of Thomas and Williams, but that was taken off the table this past summer. Prosecutors appealed that decision, and the case is still pending in Florida’s Fourth District Court of Appeal. 

TGS will follow up on this case closely and bring updates on whether the rapper is planning an escape or it is a false alarm.

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Tommies men’s hockey ready to show ‘a different identity’ with revamped roster

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Tommies Men’s Hockey Ready To Show ‘A Different Identity’ With Revamped Roster
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There were no bold predictions coming from the St. Thomas men’s hockey team as it prepared to open its second season at the Division I level against St. Cloud State on Saturday night at St. Thomas Ice Arena.

But a major roster turnover is only part of the reason why the Tommies are confident this season will prove to be more rewarding from a win-lose perspective that last year’s 3-32-1 campaign.

“You can tell that there’s a different identity,” said senior forward Luke Manning, a Stillwater native. “We still need to establish that identity in a game, but we’re more of a skilled team. We’ve got a better flow to our game. Being able to translate that to the ice this first weekend is going to be important to us.

“We’re kind of treating it like there’s no more excuses this year. We’re expected to compete with top-end teams, and we’ve got plenty of them on our schedule. If we don’t compete with them, it definitely will be a disappointment for us.”

The Tommies’ roster includes 12 freshmen, and head coach Rico Blasi said they all will get a chance to play right away. “They all have some unique skill set that they bring to the team.” he said. “That was all part of our madness in the lab — we need to have this, we need to have that.”

One player who would seem to have a shot at adding some scoring punch right away is Lucas Wahlin, a Hill-Murray grad who scored 31 goals for Lincoln in the USHL last season.

“Lucas committed to us really early,” Blasi said, “and he just had a great year in the USHL. He really popped.”

Manning led the Tommies last season with eight goals, so finding some more offensive production is a must.

“We’ve got the makings of guys who can put the puck in the net,” Blasi said. “It’s just a matter of getting up to speed on playing major college hockey.”

The goaltending will be in the hands of a pair of freshmen, Aaron Trotter, from Victoria, British Columbia, and Ethan Roberts, from Cary, N.C.

“We’re definitely not worried about our goaltending,” Manning said. “They fact that they’re freshmen, we’re confident they will be able to step in and have an impact right away. The veteran presence we have on defense will be huge for us, too. We’ve got some big bodies back there now, too, so we definitely can play physical.”

Along with the 12 freshmen, three other defensemen committed to the Tommies but have elected to play another year in the USHL before joining the program. Blasi and his staff added three veteran defensemen through the transfer portal.

“We needed to make sure we had that stop gap,” Blasi said. “We added guys who are a little older, and while they might not have a lot of game experience, they come from good programs and practiced against high-quality players. So we feel they can help us compete on the back end.”

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NHL roster slowly starting to take shape for Wild as training camp continues

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Nhl Roster Slowly Starting To Take Shape For Wild As Training Camp Continues
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With the Oct. 13 season opener only a couple of weeks away, the Wild are getting closer to figuring out what their actual roster is going to look like.

After mixing and matching the groups throughout training camp, the Wild had 24 players on the ice for Friday’s practice at TRIA Rink in downtown St. Paul.

It felt very close to the NHL roster the Wild will trot out when they host the New York Rangers in Game 1 at Xcel Energy Center.

“We have a thought process we’ve talked about,” coach Dean Evason said. “We’ve practiced with different types of units, and today was likely a little closer.”

The fact that Marco Rossi and Calen Addison were both a part of that group felt significant. It indicated that both prospects appear to have the inside track at making the team out to start the season.

Not that Evason wants them to read too much into that.

“We talk to players all the time,” Evason said. “We want them all to keep competing against each other for the right to compete with each other.”

That shouldn’t be a problem for Rossi and Addison. They made it clear that they aren’t getting too far ahead of themselves. They have both been down this road and they know they still have a lot to prove before they can feel like they actually made it.

“The biggest thing for me is the experience from last year,” Rossi said. “I always say that because last year I didn’t really know what’s going to be expected of me. Now I have more expectations for myself, too, and I know what I have to do.”

“You’ve got to come in focused every day,” Addison added. “It’s never going to be handed to us. They have made that very clear to us younger guys. I just come in and try to prove it and work as hard as I can every day. You can’t take anything for granted here.”

As for Friday’s practice, the main focus was fixing the power play. After struggling with the man advantage last season, Evason noted that there would be personnel changes this season. It looks like Rossi and Addison are going to be part of that.

The first unit consisted of Addison playing the point with Kirill Kaprizov, Mats Zuccarello, Matt Boldy and Joel Eriksson Ek. The second unit consisted of Rossi playing with Ryan Hartman, Marcus Foligno, Freddy Gaudreau and Jared Spurgeon.

Asked about Rossi and Addison getting looks on the power play, Evason replied, “That’s why they’re here, right? That’s what they do. That’s what they’re going to do here.”

“There will be lots of different looks,” the coach said. “You’ve seen our power plays through our games. We think we have a lot of people that can play on our power play. That’s pretty exciting for us.”

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Nick Cannon In A Baby-Producing Competition With Rapper NBA Youngboy As Nick Also Welcomes His 10th Baby With His Baby Mama Brittany Bell

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Look, something has to be done to stop Nick Cannon and rapper NBA Youngboy from bringing new kids into this chaotic world—because it’s getting out of hand. I blame these women for opening their legs for these men to make babies with them.

And it looks like Nick and Youngboy are in some baby-producing competition looking at how they are welcoming kids left, right, and center.

Just a few hours after news went viral about NBA Youngboy welcoming his 10th child, Nick Cannon also announced the birth of his 10th child with his third baby mama Brittany Bell.

The proud father of 10, Nick Cannon hopped on his Instagram page and joyfully announced the birth of his 10th child.

Here is what Nick wrote;

Another Blessing!!! As my journey on this planet becomes more and more remarkable and unfathomable, all I can do is thank God and continue to ask the Most High to order my steps. He has given me stewardship and dominion over a family dynamic that to some is unimaginable. But more importantly he has blessed me with loving individuals to guide me with care through this purposeful life. I am so indebted and grateful for the matriarch energy in my time of need. @missbbell has been the rock and foundation of my Fatherhood journey. She has taught me so much about parenting, psychology, spirituality, love and just life in general. For our third child she told me she didn’t want a baby shower and needed NOTHING! All she desired was PRAYER from her authentic Loved Ones! I am learning that is the best GIFT! She introduced me to the concept of a BlessingWay! As you can see in the video, a bunch of powerful prayer warriors interceding for our new child’s entrance to Earth! And boy did we need it! Probably the most difficult labor and delivery I have ever witnessed! 48 hours of excruciating pain and life risking danger to welcome 10 pounds of Love and joy named RISE MESSIAH CANNON.🙏🏾

Thank you Brittany for my fellow little Libra! I love you and our Incredible Family!

According to ET:

Cannon’s growing family started after he married Mariah Carey in 2008. Though the pair split in 2016, they share 11-year-old twins, Monroe and Moroccan. It was then that Cannon’s “unorthodox” approach to dating and child rearing began, with Cannon going on to welcome eight more children by five other women. He’s currently expecting his 11th child with Abby De La Rosa.

Inside Nick Cannon’s growing family tree;

Cannon and Carey married in 2008, and in April of 2011, they welcomed twins Monroe and Moroccan. Though the couple divorced in 2016, Cannon has continued to co-parent with Carey and remain a constant part of the twins’ lives.

In February 2017, Cannon welcomed son Golden Sagon with Bell. The pair would later welcome a daughter, Powerful Queen, 1, in December 2020, and another son, Rise Messiah, on Sept. 23, 2022.

In June 2021, Cannon welcomed his next set of twins, fathering Zion Mixolydian and Zillion Heir with De La Rosa. Earlier this year, it was revealed that the pair are expecting their third child together, due in October.

Also in June 2021, Cannon welcomed Zen, with Scott. Zen tragically died in December at just 5 months old, after a battle with brain cancer.

In January 2022, just a month after Zen’s death, Cannon revealed that he was expecting his eighth child with the model-turned-real estate reality star. They welcomed their son, Legendary, in July.

The Masked Singer host announced that he and photographer LaNisha Cole had welcomed their first child together on Sept. 15, 2022, a daughter named Onyx Ice Cole Cannon. 

While it’s been difficult for many to understand how Cannon juggles a busy career and his growing family, he told ET last month that he dedicates his “entire day” to his children.

“It’s not as difficult as people think it would be, but I understand [their concern] because it is a very unorthodox scenario,” Cannon explained. “I dedicate probably my entire day to my children. Luckily, we are in a world where I’m blessed with the opportunity. I get to spend more time with my children every single day because of my world and my business model.”

Congratulations to Nick Cannon and all his baby mommas!!! You people have a strong heart to tolerate BS!!!

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Chicago Bears could be without kicker Cairo Santos for their Week 4 road game

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Chicago Bears Could Be Without Kicker Cairo Santos For Their Week 4 Road Game
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The Chicago Bears are bracing for the possibility they will be without kicker Cairo Santos when they play the New York Giants Sunday at MetLife Stadium.

Santos was excused from Thursday’s practice for personal reasons and was not spotted when Friday’s short practice was open for media viewing. Multiple sources said the team scheduled a tryout for specialists on Friday, meaning the Bears could be considering a potential replacement for Santos.

The Bears listed Santos as questionable on their injury report Friday.

Santos made field goals from 47 and 50 yards before hitting the 30-yarder on the final play of a 23-20 win over the Houston Texans last Sunday at Soldier Field. He’s 4-for-4 on field goals on the season and rebounded from two missed extra points during a driving rainstorm in the Week 1 victory over the San Francisco 49ers.

He set a franchise record in 2020 when he made 30-of-32 field goal attempts (93.8%), earning a $9 million, three-year contract. Santos followed it up by going 26-of-30 on field goals in 2021.

If Santos doesn’t play, special teams coordinator Richard Hightower will also need a replacement on kickoffs. It’s a chore Santos split in preseason with punter Trenton Gill, so it’s possible the rookie would handle those duties. Overall, Santos has made 89.7% of his field goals since joining the team for a second stint in 2020, taking the job when Eddy Pineiro was sidelined by injury.

The Bears had punter James Smith in for a tryout Thursday along with long snapper Mitchell Fraboni. Smith was likely in because he kicks with his left foot. Giants punter Jamie Gillan is left-footed and it is not uncommon for teams to want their returners to get reps catching balls from left-footed kickers to get accustomed to the spin. That workout would not seem to involve Santos’ situation.

On the sideline and not participating when media viewed practice Friday were cornerback Jaylon Johnson (quad), tight end Ryan Griffin (Achilles) and defensive back Dane Cruikshank (hamstring). Johnson was injured in practice last week and will potentially miss his second consecutive game. Johnson and Cruikshank were ruled out for the Week 4 game.

Not spotted was running back David Montgomery (ankle), who has not practiced this week and was ruled out. That means Khalil Herbert, fresh off a 157-yard effort with two touchdowns against the Texans, will be the primary ball carrier Sunday.

Defensive end Robert Quinn, who was out Thursday with an illness, was on the field and listed as questionable on the injury report.


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Ravens coach John Harbaugh: ‘Couldn’t believe what I saw’ with Dolphins QB Tua Tagovailoa’s head injury

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Ravens Coach John Harbaugh: ‘Couldn’t Believe What I Saw’ With Dolphins Qb Tua Tagovailoa’s Head Injury
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Ravens coach John Harbaugh said he “couldn’t believe what I saw last night” when discussing the head injury suffered by Miami Dolphins quarterback Tua Tagovailoa on Thursday against the Cincinnati Bengals.

The frightening injury, suffered four days after Tagovailoa hit his head in Miami’s previous game, inspired a swift, fierce debate about the NFL’s handling of concussion protocols.

Harbaugh did not analyze the specifics of Tagovailoa’s situation but expressed confidence in the Ravens’ strict handling of head and neck injuries.

“It was just something that was astonishing to see,” he said. “I’ve been coaching for 40 years in college and the NFL. I’ve never seen anything like it before. I really appreciate our doctors, appreciate our owner, appreciate our general manager from the standpoint that there’s two things you have to keep in mind: One of them is, a lot of time players want to play. Sometimes, you just have to tell them no. No has got to be the answer. … Then sometimes, guys might be there physically where they’re sound, but they’re not confident yet. They’re not quite there yet, and we’ve had that this year. We’ve had both those situations this year. You don’t put them out there until they’re ready.”

He noted that the Ravens held out wide receiver Devin Duvernay for the conclusion of their Week 2 loss to the Dolphins despite the fact he had not showed symptoms when he went into concussion protocol, a six-step evaluation by a team physician and unaffiliated neurotrauma consultants.

“I think [our doctors] would probably call themselves conservative, but that’s what they should be,” Harbaugh said. “The other part of it, [what happened] last night, was not something you want to see.”

Tagovailoa hit his head on the ground in the first half of Miami’s game Sunday against the Buffalo Bills. He got up but wobbled and nearly collapsed as he tried to jog back to the huddle. He returned to play in the second half, and the Dolphins said he was dealing with a back injury, not head trauma.

He started four days later against the Bengals but hit his head again when he was whipped to the turf in the second quarter. That led to a frightening scene which ended with an immobilized Tua being driven off the field on a stretcher and taken to taken to University of Cincinnati Medical Center. The Dolphins announced he had remained conscious, with movement in all extremities, and he was discharged later in the evening in time to fly back to Miami with the team.

Speaking to local reporters Friday, Dolphins coach Mike McDaniel said Tagovailoa was cleared “by several layers of medical professionals” of having “any head injury whatsoever” against Buffalo. He was listed as questionable to play entering Thursday’s game with back and ankle injuries.

“If there would have been anything lingering with his head, of course I wouldn’t have been able to live with myself if I prematurely put someone out there in harm’s way,” McDaniel said. “This is a relationship I have with this human being. I take that seriously.”

McDaniel did not have a timetable for Tagovailoa’s return.

“It was scary,” said Ravens defensive tackle Calais Campbell, a 15-year veteran who has served in leadership positions with the NFL Players Association. The union has said it’s investigating the circumstances that led to Tagovailoa returning to the Bills game.

“I think there are a lot of things other than concussions that can cause serious issues as well that we need to evolve on,” Campbell said. “I’m not a doctor. I don’t know what the response was with Tua that made him think he should be comfortable playing football. But I do know that something was wrong, and from the looks of it, he shouldn’t have been out there. And we definitely need to take a look at that, to figure out how a player who was in a compromised situation was put on the field and put at risk for more serious injuries. That’s not OK. The league has to take a strong look at that.”


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